The job of being a financial advisor is both a lucrative and very daunting job because you have to handle someone’s money and manage it the way they wanted it to be. You might ponder right now how can someone become a financial advisor and control someone’s financial assets and liabilities? One of the effective ways to do this is through mentorship and other professional assessment and approach to their clients.
Financial advisors are one of the many great professions out there in the world of banking and finance and it is always driven towards a successful path in terms of career because this kind of job is very relatable to our daily lives. Financial advisors can help a person who isn’t decided to buy something or invest in something such as purchasing a new house, paying debts, availing life insurance policies and etc. You see, we are constantly facing a lot of financial challenges that need to be addressed and what more effective way to address these but by a professional advisor.
According to financial experts, a regular financial advisor that works in some financial institutions such as banks have a lofty paycheck amounting to AUD$30,000 up to AUD$150,000 dollars annually depending on their client’s portfolio and influence; this means that the richer their client, the bigger paycheck they will receive. Aside from paychecks, they have also professional advisory fees and commissions depending on their clients.
A financial advisor is commonly degree holders of business and finance. Some of these advisors initially studied finance related courses such as Financial Planning & Analysis and after they graduated and earned a degree they often proceeded to business-related courses but nowadays, more and more universities around the world offer financial planning degrees.
For someone dreaming of becoming a financial advisor, according to a trusted financial advisors Australia one should be an expert in aiding people who seeks financial stability and prosperity as well as to guide them in the right path for their future investments that is why a bachelor’s degree related to financing and business courses is essential to be not just knowledgeable but also expert when it comes to these matters.
According to a 2009 study from the Financial Planning Association, almost a hundred percent of financial advisors started their respective careers in a completely different nature of work which is contrary to what they are right now.
The title financial advisor can be used either way even though the proper term for these professionals are Certified Financial Planner which requires a certain course of study to earn it. In order to become a Certified Financial Planner, one must undergo a three-year tenure in the field of financial planning and will proceed to undergo a two-day examination.
This kind of job is very attractive especially to the millennials who are now very aware of the importance of gaining more income in the most convenient way, but that does not mean that becoming a financial advisor is like applying for a regular job, a lot of the most successful financial advisors out there have to work their way up that comes with sweat and tears.