Financial Advisor is a job title given to professionals who advice people on investment related matters, such as investing in a particular stock, bond or mutual funds. When a person is nearing the end of his career, he/she is often searching for options to invest his savings in viable plans with good returns. In cases like these, financial advisors are required. They have the knowledge and expertise to guide people in terms of beneficial investment opportunities and help them secure solid returns.
Generally speaking however, financial advisors sell their service and product, related to investment, in order to earn income. The process is indeed rewarding, but the challenges are greater given the economic uncertainty prevalent in the world.
As with any other career, you need to make up your mind first. Being a financial advisor is complex job which acquire certain qualities in order for anyone to succeed. Make sure that you are good with numbers, and are up-to-date with all the financial happenings anywhere in the world, as only then you can advise clients on investing their money. Moreover, you will need to market yourself properly, and deal with all types of clients.
Your process however, will start much earlier as you will need to get a relevant degree. A degree in finance, economics will be great as it will familiarize you with all the terms and procedures you will go through in the practical world. Keep in mind that attaining a degree is just a stepping stone and you will need to enhance your knowledge by working closely with other people and analyze the market yourself.
You may need to look for an internship before you eventually get a full-time job. That process is very helpful as it will allow you to assess how financial advisors carry out their work. Apply in a bank, brokerage firm or any other financial institution to get a head start. Do some training and be prepared to work your socks off.
Also you need to have a professional license which shows your clients that you are not just another advisor but take your work seriously. Specialize in a particular field such as becoming A Chartered Financial Analyst (CFA) which will eventually become necessary if you want to climb up the ladder. You can further become a Certified Financial Planner or a Registered Investment Advisor but make sure to take into account all the proper procedures.