Search over 27,600 MOOC courses
enter subject, university name or course name
Career Evolve is your partner in online learning and career development. Search our catalog of 28,000+ courses from over 21,000 top colleges and universities. Our partners have helped over 2 million students and continue to enroll over 30,000 students each month. Career Evolve provides you with access to free and affordable online training.

You can take courses in subjects varying from Philosophy to Computer Science or even Advanced Fiction Writing to Becoming a Physical Therapy Aide. Learn at your pace anytime and anywhere.
Career Evolve also integrates with LinkedIn to profile your achievements to potential employers.

Whether you are searching for micro learning from providers, such as Coursera, EdX or courses from leading Universities like MIT, Stanford and Peking University, Career Evolve is the answer for affordable learning and shrinking training budgets.

Invest in yourself with Career Evolve.

Discover your next learning opportunity from just one of our many Universities



Massachusetts Institute of Technology Georgetown University University of Queensland Boston University McGill University
Harvard University UC Berkeley Cornell University University of British Columbia Hong Kong University of Science and Technology

Tuesday, 10 May 2016

How to Become a Personal Financial Advisor

How to Become a Personal Financial Advisor

Personal financial advisors
Personal financial advisors must establish trust with clients and respond to their questions and concerns.
Personal financial advisors typically need a bachelor’s degree. A master’s degree and certification can improve one’s chances for advancement in the occupation.

Education

Personal financial advisors typically need a bachelor’s degree. Although employers usually do not require personal financial advisors to have completed a specific course of study, a degree in finance, economics, accounting, business, mathematics, or law is good preparation for this occupation. Courses in investments, taxes, estate planning, and risk management are also helpful. Programs in financial planning are becoming more available in colleges and universities.

Training

Once they are hired, personal financial advisors often enter an on-the-job training period. During this time, new advisors work under the supervision of senior advisors and learn how to perform their duties, including building a client network and developing investment portfolios. This training usually lasts for more than a year.

Licenses, Certifications, and Registrations

Personal financial advisors who directly buy or sell stocks, bonds, or insurance policies, or who provide specific investment advice, need a combination of licenses that varies with the products they sell. In addition to being required to have those licenses, advisors in smaller firms that manage clients’ investments must be registered with state regulators and those in larger firms must be registered with the Securities and Exchange Commission. Personal financial advisors who choose to sell insurance need licenses issued by state boards. Information on state licensing board requirements for registered investment advisors is available from the North American Securities Administrators Association.
Certifications can enhance a personal financial advisor’s reputation and can help bring in new clients. The Certified Financial Planner Board of Standards offers the Certified Financial Planner (CFP) certification. For this certification, advisors must have a bachelor’s degree, complete at least 3 years of relevant work experience, pass an exam, and agree to adhere to a code of ethics. The exam covers the financial planning process, insurance and risk management, employee benefits planning, taxes and retirement planning, investment and real estate planning, debt management, planning liability, emergency fund reserves, and statistical modeling.

Advancement

A master’s degree in an area such as finance or business administration can improve a personal financial advisor’s chances of moving into a management position and attracting new clients.

Important Qualities

Analytical skills. In determining an investment portfolio for a client, personal financial advisors must be able to take into account a range of information, including economic trends, regulatory changes, and the client’s comfort with risky decisions.
Interpersonal skills. A major part of a personal financial advisor’s job is making clients feel comfortable. Advisors must establish trust with clients and respond well to their questions and concerns.
Math skills. Personal financial advisors should be good at mathematics because they constantly work with numbers. They determine the amount invested, how that amount has grown or decreased over time, and how a portfolio is distributed among different investments.
Sales skills. To expand their base of clients, personal financial advisors must be convincing and persistent in selling their services.
Speaking skills. Personal financial advisors interact with clients every day. They must explain complex financial concepts in understandable language.

PayAbout this section

Personal Financial Advisors

Median annual wages, May 2015
Personal financial advisors
$89,160
Financial specialists
$67,740
Total, all occupations
$36,200
 
 
The median annual wage for personal financial advisors was $89,160 in May 2015. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $39,300, and the highest 10 percent earned more than $187,200.
In May 2015, the median annual wages for personal financial advisors in the top industries in which they worked were as follows:
Securities and commodity contracts intermediation and brokerage$99,280
Other financial investment activities95,500
Management of companies and enterprises85,210
Professional, scientific, and technical services76,810
Credit intermediation and related activities73,250
Wages of self-employed advisors are not included in the earnings reported here.
Personal financial advisors who work for financial services firms are often paid a salary plus bonuses. Bonuses are not included in the wage data here.
Advisors who work for financial investment firms or financial planning firms, or who are self-employed, typically earn their money by charging a percentage of the clients’ assets that they manage. They also may earn money by charging an hourly fee or by getting fees on stock and insurance purchases. In addition to their fees, advisors generally get commissions for financial products that they sell.
Most personal financial advisors work full time, and about 3 in 10 worked more than 40 hours per week in 2014. They often go to meetings on evenings and weekends to meet with existing clients or to try to bring in new ones.
If you want to continue to evolve your career and access free university courses then http:///www.careerevovlve.com is your source for information.

No comments:

Post a Comment

Featured

Starting a Consulting 

Practice

Starting a Consulting Practice

Find out how you can earn income by sharing your training or knowledge with others.
PMP ® Certification Prep 1

PMP ® Certification Prep 1

Begin a well-paying career as a project manager by preparing to take--and pass--the PMP® certification exam.
How to Get Started in Game Development

How to Get Started in Game Development

Take steps toward a new career in game development by building a foundation to design games in a wide variety of genres for different audiences and platforms.
Accounting Fundamentals

Accounting Fundamentals

Gain a marketable new skill by learning the basics of double-entry bookkeeping, financial reporting, and more.
Conversational Japanese

Conversational Japanese

Whether you want to learn conversational Japanese for travel or just for fun, you'll find this course makes it easy and enjoyable for beginners to master the essentials of the Japanese language.
Introduction to QuickBooks 2015

Introduction to QuickBooks 2015

Learn how to quickly and efficiently gain control over the financial aspects of your business using this powerful software program.

Student Profiles