2 answers
Cole
Student
Grundy Center, Iowa
3
Questions
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What kind of schooling would I need to do to become a financial adviser planner?
#FinancialAdviserPlanner
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2 answers
Brett Goodwin
Project Manager
2
Answers
Atlanta, Georgia
Updated
Brett’s Answer
Hi Cole, while I'm not a Financial Planner myself, I have looked into the subject as a possible second career so I can provide some guidance. The first step will be to get a Bachelors Degree from a University. There is not a specific "Financial Advisor" degree - you should just look for a program in Business. Some types of business degrees that would work include:
* Economics - Learning about overall trends across states, countries, and the world
* Accounting - Learning how to balance the books and keep track of incoming and outgoing money for a company
* Finance - Learning about banking and loans
Personally I studied Computer Information Systems, which was part of my school's business program. This allowed me to study both computers and business!
Your University should be able to help you understand what you need to do next, but you will likely need to take and pass a certification exam. The two major categories are CPA (Certified Public Accountant) and CFA (Certified Financial Advisor) - they are different but do similar types of work and both require an exam.
Finally, you will need to get experience working in a junior position at a company that provides Financial Advice. This would introduce you to the field. Once you have enough experience and have passed the exam, you will be a fully certified Financial Planner!
Graduate High School
Get a Business Bachelors Degree at University
Pass a Certification Exam
Get Real World Experience
* Economics - Learning about overall trends across states, countries, and the world
* Accounting - Learning how to balance the books and keep track of incoming and outgoing money for a company
* Finance - Learning about banking and loans
Personally I studied Computer Information Systems, which was part of my school's business program. This allowed me to study both computers and business!
Your University should be able to help you understand what you need to do next, but you will likely need to take and pass a certification exam. The two major categories are CPA (Certified Public Accountant) and CFA (Certified Financial Advisor) - they are different but do similar types of work and both require an exam.
Finally, you will need to get experience working in a junior position at a company that provides Financial Advice. This would introduce you to the field. Once you have enough experience and have passed the exam, you will be a fully certified Financial Planner!
Brett recommends the following next steps:
Casey Finneran, CFA, CAIA,CIMA®
Institutional Account Manager
3
Answers
Waldwick
Updated
Casey’s Answer
It is important to understand that the term ‘Financial Advisor’ is very broad. It could mean working with individual investors on financial planning and retirement planning, working with companies on establishing and running their 401k plans, providing guidance to business owners on potential mergers and acquisitions, or working with people to build budgets. Each area comes with slightly different education requirements.
If you are interested in working with individuals for personal financial planning and retirement planning, the minimum qualification will be an associates degree but most advisors will have a bachelors or higher. Many advisors also pursue professional designations such as Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC), Certified Investment Management Analyst (CIMA), or Chartered Financial Analyst (CFA). Depending on the company you are employed by there are also registration requirements that involve passing a series of exams (SEI, Series 7 , Series 63/65/66). Regarding courses of study, these financial advisors come from a host of different majors and field of studies. In order to build a book of business you will need to have a strong network, be entrepreneurial, and have marketing skills. The most common majors would be business degrees including economics, accounting, finance, business administration, and marketing.
If you are interested in working with individuals for personal financial planning and retirement planning, the minimum qualification will be an associates degree but most advisors will have a bachelors or higher. Many advisors also pursue professional designations such as Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC), Certified Investment Management Analyst (CIMA), or Chartered Financial Analyst (CFA). Depending on the company you are employed by there are also registration requirements that involve passing a series of exams (SEI, Series 7 , Series 63/65/66). Regarding courses of study, these financial advisors come from a host of different majors and field of studies. In order to build a book of business you will need to have a strong network, be entrepreneurial, and have marketing skills. The most common majors would be business degrees including economics, accounting, finance, business administration, and marketing.
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