Did you know that around 88% of all new financial advisors have come from other careers and not straight out of college? With such high statistics there is no reason that if you are looking for a change in career path that you cannot opt for a new career in financial planning and advice.
Financial advisors like offer businesses and individuals the opportunity to save and invest money based on their wealth of knowledge and experience and it is a job which can be both professionally and personally, incredibly rewarding.
If you think the time has come for a career switch and fancy yourself as a financial advisor then here is what you need to do in order to make it happen.
Are You Capable
The first thing to consider will be your capability, you may like the idea of being a financial advisor but actually doing it and being good at it is another thing entirely. Financial advisors need to not only know the inner workings of the financial world, they also need to be able to compute and deduce large amounts of financial data, be able to make sound judgements and have the confidence to be strong in their convictions. Financial advisors also need to be good salesmen and you need to be able to communicate well with your clients in order to give them confidence in what you are advising them to do. Take a look in the mirror and ask yourself honestly if you have what it takes to do the job.
Back to School
Most companies will need you to have passed the Certificate in Financial Planning exam which can take up to 3 years to study for and culminates in a tough exam. If it has been many years since you studied anything then you will need to be prepared to work hard and open up your mind to new pieces of information.
The likes of Merrill Lynch and Wells & Fargo do not request that you have the CFP certification and they have their own, in-house methods of teaching financial planning. If you feel that you have what it takes then apply to these companies before embarking upon your course.
Look to Volunteer or Take an Internship
If you want to boost your chances of landing a good job and look to improve upon your knowledge when it comes to financial planning then you should look at the possibility of gaining an internship or doing volunteer work in the industry. If you have a full time job that you cannot leave to do this then look to use your free days and your evenings to work in the sector. Depending on your previous experience, doing an internship will really impress any company who is looking to hire you and it just may be that you can beat the competition as a result of your dedication to learning and to offering your advice.