How To Become An Independent and Successful Financial Advisor

The truth is: not everyone who wants to become a financial advisor becomes successful in this endeavor. It is a long and arduous road and yet many people find themselves constantly being enticed to this position. Being an independent financial advisor actually carries a lot of promise. For people in search of a job with more time flexibility, this might be a viable option. Also, the potential for high-earning in this fast growing industry is almost limitless.

Nonetheless, there are people who see this job through rose-colored glasses. Being an independent financial advisor is anything but romantic. This job may have its perks; but according to some researches, the more successful financial advisors are usually under constant worry and stress. Those who do not, usually also do not have as much client base or as much profits raking in.

However, if you really want to become a successful financial advisor, there are certain things you should really consider, like completing your papers, building up your CV, and creating your own client base.

Completing Your Papers

As an independent financial advisor, you will need to secure yourself almost all the same papers any working professional should have – certification, license and yes, even a college degree.

Two examples of certifications you may want to acquire are: certification for chartered financial analyst; and certified financial planner credential or CFP. If you have your own “office” you may have to apply for a license or permit to operate from the local government to make your position legal. Also, if you are dealing with bonds insurance, mutual funds and stocks, you may have to acquire a license to become a financial investment advisor dealing with exchanges.

There are some people who claim that a financial degree is not necessary, but this hardly seems true in our competitive world. Remember that somewhere out there, there will always be other financial advisors who have more impressive resumes, fighting to gain control of as much a client base as you are. If nothing else, a college degree (any college degree) with extensive working experience in financial sector may give you the edge.

One advantage of getting a financial degree includes getting to learn the established financial analysis methods, accounting policies, and corporate procedures in accounting practices, business administration, finance, and statistics. Plus, it also looks great on your CV if potential customers ask for it.

Building Up Your CV

Speaking of your curriculum vitae, it is important to have as much working experience as possible. If you are fresh out of college, look quickly into bank openings and any other financially related work descriptions. It does not matter if your first few set of jobs is almost invisible in the wider world of financing, as long as you steadily develop it, it will help impress the right people.

Make sure that you also attend as much seminars as possible since these ought to also reflect in your CV. However, nothing can be more impressive than building up your career with an accumulation of awards and merits you have achieved over your college and working years.

Creating Your Own Client Base

Naturally, when you start working as an independent financial advisor, you need to reach out to as many people as possible. This is the only way you can build up a substantial client base to make your operation worthwhile. Although one or two well-paying clients ought to make your life comfortable, these aforementioned clients may be difficult to come by – especially if you are only beginning your practice. So start off small, maybe 2 to 5 clients with equally small commissions. From there, steadily build up your client base with more high-profile clients. And nothing attracts attractive clients than an impressive showing of shrewd financial decision-making on your part.

It also will not hurt to ask your existing clients to refer you to other people who may be in need of an independent financial advisor.


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