How to Become a Registered Financial Advisor
Financial advising is a challenging and lucrative career opportunity. People at different stages in their financial lives require the help of an expert. You may find yourself called upon to help a young couple save for their first house or for the college education of their children. On another day, you might be helping a recently retired person spend their retirement funds while still figuring out a way to keep money coming in. According to Payscale.com, the average financial advisor makes between $80,000 and $100,000 a year after three years, with the potential for more.
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Instructions
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Find a financial services company you like that offers a complete training program if you are completely new to the field. If you have a background in insurance or real estate, for example, you may find that studying on your own and opening your own office is what you really want to do. For most companies you will need a bachelor's degree in any field to qualify.
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Check with your secretary of state's office or your state department of regulation and licensing to find out what, if any, exams or licenses you need in order to open your business.
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Take your classes and study for and pass your exams. Doing this before you join a financial services company will go a long way toward showing the company how committed you are to your new career. You may find, however, a company that is willing to pay for your classes and get you started in their way of financial advising.
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Practice your new career by managing your own portfolio or perhaps a relative's. Consider taking a job at a bank to get your feet wet in the financial world. If you find a company willing to help you become trained as a financial advisor, you will have a head start with a possible base salary and benefits.
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Take continuing education classes. Your license will need to be audited every 2 years or so in accordance with your state's law. Make it a habit to keep taking continuing education classes so that your license stays up to date.
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Register with an association like the Registered Financial Planners Institute (RFPI), after passing your exams and receiving your license from your state. Organizations such as these offer classes and conferences that will keep you informed about your growing career. They also offer designations that you can show your clients.
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