" How to succeed as a financial consultant" is an article by Neil R. Williams. He’s a financial consultant by profession and a writer in the finance niche. He consults people on personal finance issues such as on debt problems, credit repair, debt settlement and so on. He has articles posted in many financial blogs or sites. The following article is his opinion.
In the present economic market, becoming a financial consultant is considered one of the most lucrative career opportunities because any job that has to do with money and finance carries a high premium. Keeping in mind the present competitive job market, you need professional qualifications, an analytical mind, logical though process and certainly some professional qualifications. You also require a strong foundation to find the right information on the prospects, benefits and criteria for becoming a successful financial consultant. Read on for the roadmap to becoming a financial consultant.
Educational qualifications and experience required for being a financial consultant
The job of a financial consultant is soon becoming one of the top opportunities for earning loads of money. There are some educational qualifications and professional experiences required for being a successful financial consultant. Check out some of them.
- You may need a bachelor’s degree in Business Administration: If you are keen on becoming a successful financial advisor, you need to have a bachelor’s degree in financial areas like accounting or financial management. If you have a major degree in financial management or even accounting, it will cover a large portion of what you need to do as a financial consultant. You can take up some introductory economics classes to facilitate the process of grasping knowledge on finance.
- You require a state financial advisor’s license: In the US, if you have got a bachelor’s degree in Business Administration, the next thing that you need to obtain is a State Financial Advisor’s license or other regional license. In the US, most states follow a rule that states all financial consultants should obtain a state license before practicing. There are various requirements for state licensing depending on the products that are sold by the advisors.
- You require work experience: In order to become a successful financial consultant, you need work experience. Most financial consultants start off as being self-employed and work from home. The job of a financial consultant is to meet clients and give financial advice in accordance with his present financial status.
- Continue your education and prepare for certification: If you continue your studies on financial advising, you can stay updated about the recent changes in the finance industry. Some of the most happening topics that always keep changing are real estate, investment management, personal finance management, planning for retirement and tax planning.
- Get the required certification: In the US, the CFPBS (Certified Financial Planner Board of Standards) certifies all the financial advisors. A prospective candidate of financial consulting will have to appear for an examination and if they qualify, they’ll be awarded the certificate of a financial consultant. The certification exam tests areas like risk management, debt management, liability planning, retirement planning and handling of emergency funds.
Some valid reasons for becoming a financial consultant
You might be wondering why it is so important and profitable to become a financial consultant. There are multiple benefits of being a financial advisor. Here are some benefits of being a financial advisor.
- To gain business prestige: No other business offers prestige as does being a financial consultant. You have power and the ability to earn a huge amount of money for a luxurious living. It has been estimated that a professional financial consultant earns an average $170,000 per annum.
- Lots of prospects in the sluggish US economy: With the present sluggish state of the US economy and with the huge consumer debt level, there are an increasing number of people who borrow money. This is where your role comes in. You can help such debtors arrange the right kind of financial loans and this way you can earn huge fees and keep the entire amount to yourself.
- Lending loans is much easier: The AAA has made the task of looking for lenders easier for financial consultants. Like before, you need not make the search yourself. Your demand will also be boosted by the fact that you have acquaintances with lenders who are funding various kinds of loans.
According to the recent statistics given by the US Bureau of Labor, there will be a 30% increase in the employment opportunities for financial consultants between the year 2010 and 2019. The senior citizens will be looking for more financial assistance regarding retirement planning and personal investment management. Therefore, if you’re still confused about choosing this as your career, shun off all your confusion and go ahead in choosing this as your career. Consider the qualifications, experiences and benefits of being a financial consultant so that you can emerge successful.