How to Become a Financial Advisor

Do You Have What it takes to Be a Financial Advisor

So, you have decided to become a financial adviser and to be the chief counsel to people and their finances or money, right? But come to think of it, what is your understanding of the concept of money?

Do you view it as wads of notes that enable you to buy what you need and want? Or are you of the opinion that money is akin to leverage that you can use to further enhance your economic and social standing?

What Is A Financial Planner And How Do You Become One?

These questions are the templates by which you can accurately gauge whether or not you are suitably qualified to navigate the topsy-turvy world of Financial services/consulting/advising.

It must be emphasized that money/finances should be your watch word in this instance. If and when people do meet you for financial advice or go the whole length of commit their hand earned funds into your care, then you must have the right attitude and temperament to make the most of the portfolio that you have.

So, if you have really decided to tow this path of financial advising, then you will do well to ponder on the following points of reference to achieve financial goals:

Are you financially literate?

Do you really want to be a financial adviser? You can only give what you have; what you must have in this sense is proficient knowledge in the methodologies and tools used in the manipulation and interpretation of financial data.

While possessing a higher degree in financial matters might be viewed as a necessary condition, it is not entirely sufficient, as history has shown that some past and present trail blazers in the finance world did not take a university course in finance.

Potential clients will only listen to you and part with their funds if they see you have demonstrable expertise in financial matters and whether your counsel will see their wealth increase or not.


Do Numbers Tickle your Fancy?

If you really have what it takes to be a financial adviser, then the world of numbers will take on a special attraction for you. You will practically live, talk, breathe and literally eat numbers.

Stock numbers, forex numbers, GDP numbers, investment figures, historical data and economic numbers-the whole gamut- will be your personal play ground.

As a financial adviser, these numbers must be at the tips of your fingers; so much so that you are able to recall them at a moment’s notice or retrieve them within a relatively short time.

Your passion for gathering, interpreting and manipulating financial numbers should form a part of your broader strategy in ensuring that your clients are given value for engaging your services.

If numbers do not tickle your fancy, then it might be that a career path in financial advisory services may not be ideal for you.

Do you possess a Personal Diversified Investment Portfolio?

So, what you really want to become a financial adviser? Then at this juncture, the saying “show me what you have in your hands, and we will tell the kind of person you are” will suffice. If you will earn the reputation of being a financial adviser, then you must provide tangible fruits of the application of your financial knowledge.

What portfolios do you have? How diversified are they? Do they span the spectrum of the local and global economic space- ranging from stocks to mutual funds to foreign exchange trading to real estate investment? How big have your investments grown?

The application of your expertise must reflect in your own dealings, where you can confidently point potential clients to your assortment of investments that are predicated on your financial prowess.

Any situation less than this, and you will have people doubt the veracity of your claims to being a financial expert, which could also mean that you are not cut out for the role of a financial adviser.


Are you a Sucker for Information?

The world of financial investment thrives, in fact, exists on the wheels of information, which is often by the minute and in real time. Do you crave information that helps refine your thought process and puts you in the loop of current events and happenings?

Are you subscribed to online financial journals and publications? Are you a member of financial think-tank groups and policy setting bodies?

As a financial adviser, your mantra should be “give me more information or let me die”. It is that important because your clients are depending on the clarity of your thought process to help them make wise business decisions or to invest their funds in high yielding ventures whilst mitigating losses.

If you lack this trait or you show anything less than an enthusiasm for information, then it might point to the fact that maybe you are not meant to be a financial adviser.


Who are you When no one is Watching?

What this point is trying to pass across is this: are you a person of integrity? Are you bound by your words and by accountable codes of financial conduct?

You must understand that people will wager on your sense of judgement and may even commit their funds into your care.

You must abide moral and ethical standards in your dealings, in order to earn and ensure the trust of your clients. Your goodwill is very crucial here to become a financial advisor.

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