Personal Financial Advisor Career Path

Personal Financial Advisor Career Path
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Background
Personal financial advisors provide financial advice to clients including decisions on taxes, investments and insurance. Hence, it is necessary to arrange meetings with clients before undertaking financial plans in order to understand the clients’ financial needs and goals. Financial advice then depends on the information provided as the recommended investments are dependent on the identified client goals (Garman & Forque, 2012). Another important aspect of financial planners is that they can help clients to improve, their personal financial situations. Additionally, credentials are important indicators of competence, and hence continuing education helps financial planners to improve their skills. This report focuses on requirements for the profession, beginning salary, potential salary as well as optional career moves.
Requirements for entering personal financial advisory
Ideally, personal finance advisors need to have a background in business courses, economics, law as well as quantitative fields. Additionally, having knowledge on risk management, estate planning and taxes helps to improve competency among advisors. There are also organizations that may seek the Certified Financial Planning (CPR) or the Chartered Financial Analysts (CFA) designation. Even though licenses are not necessary when dealing with mutual bonds, funds, insurance and stocks may require one to be licensed depending on the job descriptions and nature of work. Since personal financial advisors primarily work in finance and insurance companies, interest in financial matters is essential as well as having a good track record in sales and dealing with clients. The acquisition of further certification is a marketing tool, and getting more financial exercise is necessary to even facilitate self-employment.
Beginning salary
The beginning salary of a personal financial advi...