Become a financial consultant

Become a financial consultant if you have a financial background and are interested in the benefits of being a consultant.

In the simplest terms, financial consultants offer advice about financial matters. Most financial consultants have a background in economics and experience working with banks, trust companies, mortgage companies, brokerage firms, mutual funds, or other financial management organizations.

There are many possible specializations to consider if you decide to become a financial consultant:

  • accounting;
  • insurance;
  • finance law;
  • comprehensive financial planning;
  • retirement planning;
  • pension analysis;
  • bankruptcies;
  • risk management;
  • debt management;
  • investment management;
  • will and estate planning; and
  • cash management.

Depending on specialization, a financial consultant’s clients may include individuals, families, corporations, trusts, and privately owned firms. When some financial professionals become consultants they specialize in a client group, such as female or retired clients.

Many financial consultants are accredited or hold membership in relevant organizations, such as being registered financial planners (RFPs), certified financial planner licensees (CFPs), and certified financial consultants (CFCs).

Financial consulting can be a lucrative career. Find out more about how to set consulting fees here.

The steps involved in becoming a financial consultant are similar to what is involved in starting most business consultancies. For help starting a financial consulting business, check out this series on how to become a consultant.

There are many types of business consultants, and becoming a financial consultant is just one option. If you’d like to learn more about your unique skills and are wondering whether to become a financial consultant, consider taking the course Discover Your Inner Consultant.

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