Qualifications Required to Become a Financial Advisor

Financial advisors help people plan for their future.

Financial advisors help people with investments, taxes and insurance policies. They guide consumers on where they should invest their money for maximum growth. The field is expected to grow by about 30 percent through 2018, according to the Bureau of Labor Statistics.

Minimal Education Requirements

A bachelor's degree is the minimal requirement to work as a financial advisor. Most firms do not require a particular major, but degrees in finance, accounting, banking, economics or even law are beneficial. Some colleges and universities are now offering degree programs in financial planning specifically designed for students interested in financial advising.

Additional Coursework

Courses in tax law, estate planning, risk management and investments are also beneficial to a financial advisor. Many financial advisors take in-house courses offered by their firm that cover these topics. It is important that the financial advisor stays current because the financial world is constantly changing.

Licensure

Financial advisors will need state licensure depending on the products they sell and where they work. Their firms need to be registered with the state regulators and the Securities and Exchange Commission. Specific exams and licensure paths will depend on the state. The North American Securities Administrator Association contains the licensure requirements for each individual state.

References

• The Bureau of Labor Statistics: Financial Advisors