How to Become Personal Financial Advisor-How to Become an Independent Financial Advisor-Pros-Cons-Salary-Wikipedia of Finance

How to Become Personal Financial Advisor – Independent, Pros, Cons, Salary


Financial advisor could suggest many items, it works at customers to evaluate their current financial position plus next plans, to recommend financial plans, financial conditions and forecasts etc. Here we will answer few questions related to how to become the personal financial advisor? or should I become a financial advisor? along with how long does it take to become a financial advisor? We will also cover few more about pros and cons of Being a financial advisor, how to become an independent financial advisor? and what does a financial advisor do?

Definitely, just by learning what is finance is not sufficient for being a financial advisor. You require proper education, certifications to give professional suggestions to people. For Example, if you Believe you want to assist people manage their funds and match their financial goals, that is how you become thinking how to become a financial planner. Process defers as per what type of suggestion and plans you prepare to become the personal financial advisor.

What Does a Financial Advisor Do?

The role of Financial advisor is to guide customers with what is investment properly along with strategies for higher growth and returns which can be either insurance options, retirement planning, difference between stocks and bonds and several investment techniques. 

Financial advisor possesses knowledge of insurance, shares, bonds, banking along with associated areas to assist the financial plan. Networking and Advertising are of the most extremely important aspects of their task, to bring more and more clients.

How Long Does It Take to Become a Financial Advisor?

To become a financial advisor, it takes less than 5 years to 7 years based on the course you take towards become the financial advisor, along with bachelor’s degree and gaining required experience. To become certified financial planner 3 years of Work experience is required along with your bachelor’s degree.

How to Become a Personal Financial Advisor?

To become a successful financial advisor, you have to be updated as per market requirement and go on learning new things. Also, you need to understand how to assist customer and what are customer requirement thoroughly.

You can do a job or become an independent advisor, in any case bachelor’s degree along with certification is compulsory. Let’s see how to become the financial advisor?

Education Requirements

To become a financial advisor minimum bachelor’s degree is requires. Courses and learning of what is accounting, economics, finance, what is financial planning, etc looks convenient, though not mandatory. MBA degree plus degree in legal studies or law can increase possibilities to get job.

Certification Required

Financial Planning guidelines Board (FPSB) of India is actually the major licensing system. They provide CFP Certification at India with an agreement at FPSB Ltd., Denver, USA. It is internationally accepted and prestigious Financial Planning certification recognized around the world.

This certification highlights the quality of people who meet their criteria with respect to experience, assessment, ethics and education. Their Certification will definitely be useful for men and women who wish to become a successful financial planner and make their career in the financial service industry.

How to Become an Independent Financial Advisor?

In order to become IFA (Independent Financial Advisor), you should have good knowledge about the market to suggest on financial matters to your customers plus recommend them with best investment options in India with right information.

There are procedures to become an Independent Financial Advisor. You have to give Mutual Fund examinations which provides what is mutual funds and basics training. You need to register with NISM (It is founded by SEBI) and then get ARN Card registration. AMFI is a unique number to individual financial advisor, agents, intermediaries and brokers for buying and selling of Mutual Funds.

Should I Become a Financial Advisor?

This job is suitable for people who like to create distinction within the life of other people as well as making long term relationships. Top Financial advisers have qualities like caring, competence, integrity, reading best finance websites in world, etc with reputation for overcoming adversity.

Financial Advisor have a good experience for long years which they have learned in order to realize how financial, personal and professional aspects can alter or change which a massive advantage.

It’s difficult to begin a job being a financial advisor as it’s not only having expertise in financial market and guiding people but bringing in more and more customers. Sometimes you might have to do outdoor activities by marketing, calling, networking, seminars etc. to increase your customers.

When you are looking for answer of your question should i become financial advisor, its also wise to know Pros and Cons of Being a Financial Advisor.

Pros and Cons of Being a Financial Advisor

Advantages of being a financial advisor go beyond best personal finance tips as well as returns. As per Bureau Labour Data it has been estimated 15% increase rate to which is higher than 7% average job. Let us see some of the advantages as well as disadvantages of being a financial advisor.

Advantages / Pros of Being a Financial Advisor

Check out important advantages of being a financial advisor. Below is list of pros of being a personal financial advisor.

  • Starting your own financial advisory firm can be done at minimal cost.
  • You get opportunity to have an Independent Clients.
  • There are no office hours. You can work anytime from anywhere.
  • There is no limit on your earnings as it depends on number of clients.
  • Its good prospect to engage with other people.
  • Assisting other business / individual to accomplish their financial goals.
  • You should be creative to serve clients with new financial ideas.

Disadvantages / Cons of the Financial Advisor

There are worst financial mistakes to avoid as a financial planning. Generally there are many good benefits of being a financial advisor, however its necessary to look into cons of being a financial advisor as a profession. Still we will look into disadvantages of being a financial advisor mentioned below.

  • To satisfy clients you need to be one step closure to their requirement.
  • Follow government regulations with new changes becomes challenging task.
  • Clients trust should be fulfilled with correct and accurate information.
  • It will be challenging to explain and convince on financial products.
  • Initially there will be lot of pressure / stress to build confidence in clients.
  • Patience is most important part of this profession. Since its money matter.
  • One wrong step can lose clients confidence in financial matters.
  • Update with financial trends, news, economy is must for financial advisor.
  • Find new tricks and techniques for new clients, as its really difficult.  

Financial Advisor Salary in India

Primary duties of financial advisors are to guide customers regarding financial institutions like banks, insurance policies, mutual fund businesses, income tax regulations and more. Since it’s a money matter task, financial advisor salary in India is also good. Let’s see salary of financial advisor in India based on trusted sources below.

  • Low Base Salary Scale: 240,000 Rupee per annum.
  • Average Base Salary Scale: 620,000 Rupee per annum.
  • High Base Salary Scale: 1,850,000 Rupee per annum.

Financial Advisor Salary in USA

Generally, they evaluate customers financial needs to achieve financial goals for their business or for their retirement income. Financial advisors help client’s strategy for the both to achieve short-term as well as long-term goals. Let’s see salary of financial advisor in US (United States of America) based on trusted sources below.

  • Low Base Salary Scale: 30,000 US Dollar per annum.
  • Average Base Salary Scale: 61,000 US Dollar per annum.
  • High Base Salary Scale: 112,000 US Dollar per annum.


Simple answer for how to become the personal financial advisor? or Should I become a financial advisor? Is be loyal with your clients to gain trust and growth of your customer base. Usually when you offer insurance as well as investment products to family and friends, you should deal with little caution. It could ruin relationships with wrong guidance or one wrong step and they may be trapped with consequence for years. When you are looking answer for what does a financial advisor do? or how to become an independent financial advisor? and even Pros and Cons of Being a Financial Advisor?  Then let me tell me, just be little patient, truthful and advice correctly, you will definitely enjoy being a personal financial advisor.

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