How to Become a Financial Coach

With more Baby Boomers on the cusp of retirement, the need for a financial adviser, or financial coach, is ever increasing. A financial adviser is a professional consultant who uses market experience and expertise to suggest investment options for long-term profits.


    • 1

      Locate an established broker to sponsor you so that you may take the required proficiency exams to gain certification. The broker must belong to a financial company registered with the Financial Industry Regulatory Authority (FINRA). There are two exams, the Series 7 Stockbrocker's Exam and the Series 66 Uniform Combined State Law Exam; both of these exams have a passing cut-off of 70 percent. If you don't pass, you may retake the exam in 30 days.

    • 2

      Search the Internet for free practice exams. The Series 7 exam is a complex and challenging assessment with 250 questions over a six-hour period. Since each exam may cost you between $250 and $400, it is advisable to prepare as much as possible before the exam. Practice exams for both the Series 7 and Series 66 exams can be found through You will be required to sign up as a member, but otherwise the exams are free.

    • 3

      Request an internship from your broker. After you have successfully acquired certification, your financial company will most likely offer you an internship that will include an intense training course that may span between one and three years. Generally, these sorts of internships have a commission-based pay system and will act as an incentive for you to meet the weekly/monthly constraints.

    • 4

      Devote more hours toward your internship than your colleagues. Sponsoring rogue candidates to become a financial adviser requires a lot of time and money, and companies are highly selective. Although your weekly schedule will require around 40 hours of work, try and spend approximately 50 to 60 hours per week toward projects and building your client base.

    • 5

      Contact your current clients and maintain a strong and common relationship with frequent interaction. As you receive a permanent position with your financial company, you must retain a strong client base. Use the pyramid model to build your social network and brandish your name and reputation in the community.

Tips & Warnings

  • Becoming a financial adviser requires time and commitment, so you should be prepared for both.

  • The certification exams are exceptionally challenging and require significant practice and preparation.

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