Finance

How to become an independent financial advisor

Financial analysts and personal financial advisors provide analysis and guidance to businesses and individuals to help them with their investment decisions. Both types of specialists gather financial information, analyze it, and make recommendations to their clients.

Though no direct formal degree is required to become an independent fianancial advisor, having a degree will serve as an advantage both against competing candidtates for the job, and will also help in the role itself, as a degree tends to provide some of the analytical experience that comes in handy.

Below are few skills required to become an Independent Financial Advisor

Degree

Minimum education is a college degree in business administration, accounting, statistics, finance or something similar.

Knowledge of accounting policies and procedures, financial analysis methods and corporate budgeting is desirable

A master's degree will always be an added advantage. Advanced courses in pricing and bond valuation will prove beneficial.

Mathemetical and computing skills

Mathematical, analytical, computer and problem solving skills are essential. These do not have to be of very high standards but good level of knowledge is a must.

Good communication and interpersonal skills are also a must as a financial advisor has to directly interact with clients. These may be individuals or companies and should have an ability to convince his/her clients.

Selling financial products/services

A good deal of an independent financial advisor's role is to sell products and services to clients, so good sales abilty is required.

There are a few certifications which will help an individual financial advisor to enhance his professional standing such as :

.  Chartered Financial Analyst

.  Certified Financial Planner credential[CFP(R)]

As such there is no license required to practice as a financial investment advisor but incase one deals in mutual funds, stocks, bonds insurance et,. you may have to apply for a license to perform these activities