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Career as Financial advisor

Last Updated On 14 May, 2020

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Career as a Financial advisor

About Financial advisor

A financial advisor is a person who provides financial advice and guidance to the clients. He is responsible for building trusts with the costumers and providing them with the service they want. A financial advisor can offer many different services such as investment management, tax planning and estate planning. Besides this, he also helps the clients to plan long-term as well as short-term goals such as retirement, education expenses and investments. People also hire financial advisors for tax services and selling insurance. A career as a financial advisor is perfect for the candidates who are interested in providing services to the costumers as per their need and requirements. Besides this, candidates who enjoy analysing the financial market and playing with numbers are also suitable for this profile. Since the financial market is growing rapidly, people are moving to help fo financial advisors to manage their financial expenses and savings. This has led to an increase in the demand for qualified and skilled financial advisors. Candidates who are looking for a career as financial advisor may pursue any master degree related to finance and then they can apply for a job.  

Eligibility to become Financial advisor

Candidates should satisfy the minimum eligibility requirements decided below

Education: Every firm has its own eligibility requirements. Candidates may check the job description of any company to know the minimum requirements for the job. Some of the companies require candidates with a master degree in a finance-related stream while brokerage firms might hire candidates on the basis of their performance in the bachelor degree. 

Experience: An experienced financial advisor will surely be rated before the freshers. Since most of the people prefer taking advice from an experienced financial advisor, candidates should gain some experience before moving further. They can start their career by applying as an intern so that they can get familiar with all the terms and strategies related to financing. This will also help them to gain some experience in the field. 

Skills: Besides the academic requirements the financial advisor must own some additional skills also. Having some skills related to financial management will help the candidates to stand ahead of the other candidates. Some of the important skills are listed below.

  • Interpersonal skills
  • Communication skills
  • Confidence
  • Organisational skills
  • Enthusiasm
  • Customer service skills
  • Entrepreneurial skills
  • Proactive attitude
  • Presentation skills
  • Salesmanship
  • Analytical Thinking

Types of Job Roles Financial advisor

There are many job roles available for a Financial advisor. Candidates may select any role that suits their interest and skills.

  • Financial Advisor
  • Senior Financial Advisor
  • Investment Consultant
  • Wealth Management Planner
  • Budget Analyst
  • Financial Manager
  • Financial Analyst
  • Financial Consultant
  • Wealth Manager
  • Investment Planner

Employment Opportunities for Financial advisor

Financial advisors are in demand in many sectors. They are hired by both private and public agencies. Besides this, people also consult them for taking financial advice. Some of the major sectors where they can apply are listed below.

  • Banks and building societies
  • Financial planning firms
  • Independent financial advice companies
  • Insurance companies
  • Investment firms
  • Fund managing companies
  • Wealth managing firms

Top Recruiting Agencies for Financial advisor

Some of the major recruiting companies hiring Financial advisors are

  • HDFC
  • HSBC
  • Kotak Mahindra
  • LIC
  • Aditya Birla group
  • Bajaj finserv
  • Life Insurance Corporation of India

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Pay Scale/Salary of Financial advisor

The annual salary of the Financial advisor depends upon the skills as well as experience of the candidates.  The initial salary of a financial advisor might not be good but the situation completely changes with experience.   


Starting Salary per annum (in INR)

Mid Level Salary per annum (in INR)

Senior Level Salary per annum (INR)

Financial advisor




Financial Analyst




Finance Manager




Books & Study Material to Become Financial advisor

Since the people take advice from the financial advisor, it is important that the financial advisor has good knowledge about the field. There are many books available for a financial advisor. Some of the recommendations are listed below:

  • Storyselling for Financial Advisors by Scott West and Mitch Anthony
  • The Million-Dollar Financial Advisor by David J. Mullen Jr.
  • Questions Great Financial Advisors Ask by Alan Parisse and David Richman
  • Ineffective Habits of Financial Advisors by Steve Moore and Gary Brooks
  • No Excuses! The Power of Self-Discipline
  • Gratitude Marketing by Michael F. Sciortino
  • The Pocket Guide to Sales for Financial Advisors by Beverly D. Flaxington
  • The Supernova Advisor by Rob Knapp
  • Endless Referrals by Bob Burg
  • The Art of Selling to the Affluent by Matt Oechsli
  • The Nature of Investing by Katherine Collins
  • How to Master the Art of Selling by Tom Hopkins
  • Investment Leadership by Jim Ware, Beth Michaels, and Dale Primer

Pros of becoming a Financial advisor

  • Financial advisors get flexibility in work hours. They can choose when to meet the clients.
  • Financial advisors have the potential to be innovative in expanding their client base.
  • There is no limit on their earning. The income of the financial advisors is based on the amount of business they create in a year. 
  • People consult them for taking meaningful advice. 
  • Financial advisors may work for private or public companies. They can also opt for self-employment and work from home option.

Cons of becoming a Financial advisor

  • Financial advisors can experience a lot of stress at the start of their careers.
  • As we all know that the clients always prefer to take advises from experienced persons. Thus it becomes necessary that financial advisors are qualified and licenced. 
  • Work hours of the financial advisors are not limited. Sometimes, they will have to work at the weekend also. 

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