Last Updated On 14 May, 2020
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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.
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.
There are many job roles available for a Financial advisor. Candidates may select any role that suits their interest and skills.
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.
Some of the major recruiting companies hiring Financial advisors are
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)
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: