How to become an Financial Advisor?
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Answer:
At the bottom-most rung, you only need to pass the NASD exams. But you'd be surprised how many can't.
The top-most rung is the ChFC. Ten graduate level college courses and an examination. CFP has more marketing exposure, but they only take half the courses and the exam is nothing like as hard.
But qualifications are only part of the game. You've got to be sharp, and you've got to be honest with yourself and with your clients. You have to make a habit of thinking about all the consequences of everything. I know ChFCs and CFPs that I wouldn't trust with a nickel, and baby Series 6s I'd trust with everything, because ethics and mental habits are everything.
I think you become one of the best by realizing it's a financial advisor, not an financial advisor.
First, paper trade. Below are a few links on where and how to do it.
Find a mentor.
Use math.
Be honest.
Let's make money!
Good luck
Marc
Check with your state securities agency on the qualifications and NASD exams you need to become a Registered Investment Adivosr. To be an adivisor you will probably need the NASD Series 6 and 65 or 63 exam. Thats the easiest way to become an advisor. A more prestigous and more difficult certification is the Certified Financial Planner.
1. Locate a firm which would assess your abilities as certain personality characteristics are preferred.
2. Get the basic insurance licenses, then NASD licenses such as the 7 and 66 would be best. These licenses will need to apply to the states in which you conduct business.
3. Get hired by a reputable firm and then mix in a lot of good training and mentorship with time. Eventually you can get all of those nice letters behind your name too.
4. It is tough being a financial advisor or everyone would be doing it!
Eduation and taking certifications aside, there is a certain degree of salemanship involved. To be a good one, you have produce result that meet or exceed the expectation of your clients.
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