To become a financial advisor, good qualifications are paramount to get an interview, let alone a job. Gone are the days where banks and brokerages hired people with a diversity of educational backgrounds, relying on in-house training rather than impressive qualifications.

College qualifications

Today, to become a financial advisor qualifications must include, at the very minimum, a Batchelor’s degree in a finance-related subject For instance, Financial Planning, Business, Economics, Accounting, and so on. In a addition, grades must be impressive, not mediocre.

With this level of qualifications, you will find competition for Financial Advisor positions is fierce. To gain an edge, and a greater likelihood of obtaining the most desirable positions, it is advisable that prospective Financial Advisors extend their qualifications to include a Masters degree. This should be in the same or similar finance-related subject as the Bachelors degree.

To reduce time spent at college, a sensible option is to enroll in a college with dual Bachelor and Masters degree programs. These allow you to study for and graduate with both degrees at the same time, shaving about two years off time at college.

Experience

To be considered as a Financial Advisor, educational qualifications are just the beginning. You will also need to qualify in terms of experience. Most prospective employees will look for at least two years finance-related work experience. This will be gained in part through internships in financial positions completed to fulfill degree requirements.

Once hired, most employers spend considerable amounts providing further experience and in-house training. Consequently, they are extremely selective at the recruitment stage. This is why, if you want to boost your prospects of being hired as a Financial Advisor, excellent qualifications are essential.

Professional qualifications

Once hired, you will need to obtain a further set of qualifications. You will not be able to practice as a Financial Advisor until you become certified and licensed. To do this, you will need to pass the Series 7 Stockbroker’ s and Series 66 Uniform Combined State Law Exams.

Most employers will sponsor you through these exams – one of the expenses that necessitates a highly-selective approach to recruitment. You will need to refresh these qualifications yearly, to demonstrate continued competence as a Financial Advisor.

Clearly, as a prospective Financial Advisor, qualifications are the key to recruitment and progress. To achieve the quality and extent of qualifications that today’s employers require, you will need to be prepared to work hard at the expense of your social life.

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