How to become a Financial Advisor

How to become a Financial AdvisorHow to become a Financial Advisor

If you are passionate about investment, finance, stocks, mutual funds etc., you can make your career as financial planning advisor.

What is financial planning?

Every investor would be willing to invest in good investment options and plan for their future. However an individual may not be to research the investment options and get best out of it. The element of planning may be missing. He would depend on experts to make his investment decision. Here the role of a financial advisor would come into place

How do financial advisor help the investor?

Financial advisor would help the investor in putting his finances in place and advice him for good investment options and help him to achieve their financial goals in pre-defined period within the available investment.

Is there any demand for such financial advisors?

With the growing population and increasing awareness about financial planning, there is very good demand for financial advisors.

Also read: How to start a website / blog and become your own boss

How to become a financial advisor?

1) Qualified financial advisors Vs General financial advisors: In India, legally, there is no specific qualification to be possessed by a financial advisor. However it would be a good advice that an individual who is interested to make his career as financial advisor goes through the financial planning certifications like certified financial planner (CFP). It would give more weight age for an individual by doing such certifications.

2) Understand various investment options: You should be passionate about the capital markets, various investment options and latest tax laws to work as a financial advisor. There are various investment options like Stocks, Mutual funds, PPF, Bank fixed deposits, company / corporate fixed deposits, small saving schemes. You should be familiar with those terminologies and how they work.

3) Understand various risks: If you know various investment options, it may not be sufficient. You should know various risks involved if one invests in such investment options. You should study various trends for such investment options so that it gives an idea as how an investment option behaves in various economic conditions.

3) Start your website / own blog: Once you are well versed with the terminologies, you can start your own website or blog and advertise about your financial advisor services. You can keep writing articles so that people can trust you and approach you for the advices.

4) Use paid adveritising: You should advertise with pay per click advertisement programmes (e.g. Google PPC) and spend some money to get new customers. You can do banner advertisement in various investment websites to attract customers.

5) Start with low service charges: When you are initially starting financial advisory services, customers may not trust you. You can start attracting customers by offering low charges. Once your business grows, you can start increasing your fees.

6) Conduct contests / quiz: One of the important ways of promoting your business is conduct contests and quiz on your site to create awareness among customers. I have done this earlier and was successful in getting new customers.

7) Make a follow-up call with your members: As a financial advisor, your role would not end up once you provide advisor services and collect your fees. You should enquire your customers about their financial planning and keep providing suggestions.  

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How to become a Financial Advisor