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Financial Advisor

Who is a Financial Advisor?

  • Financial planners advise customers on how to save, invest and increase their money. Some specialize in retirement or estate planning, others advice on various financial matters. 

  • Financial planners are different from Accountants who can help you lower your tax burden,

    • Insurance agents who could lure you with complicated life insurance policies, or

    • The person in your local fidelity office who prompts you to buy mutual funds.

  • Financial Advisors do not offer all meaningful financial planning services. Some do not offer investment advice and only offer financial planning. Many do not have the training and expertise to be competent in retirement planning.

  • Peoples' finances become more complicated, either as a result of a new job or an inheritance. Others want personal advice to increase their savings or reduce debt.

  • Financial advisors act as quarterbacks between professional advisors. They would be

    • accountants,

    • business attorneys,

    • insurance brokers

    • real estate attorney.

  • Financial advisors lead entrepreneurs to cost savings and lead the way to profitability.

What do they do?

  • A financial planner creates a personalized plan that you can use to manage your budget and achieve your financial goals.

  • You are an expert. You give knowledgeable and helpful tips on how to deal with one of the most important aspects of your life.

  • You identify areas to work on, such as Excessive expenses or bad savings habits.

  • The main services they offer are comprehensive wealth management and investment advice. These are then divided into five separate subcategories: investment portfolio management, financial planning, asset allocation, financial advice and pension advice.

How to become a financial advisor?

Financial advisors levy financial services to clients based on their financial situation. In many countries, they have to undergo specific training to get a license.

  • Certified Public Accountants (CPA): Focus on money management and tax planning.

  • Real Estate Attorneys: Estate planning.

  • Chartered Life Underwriter (CLU): Insurance and pensions.

  • Certified Financial Planner (CFP): Familiar with all areas of financial advice. Certified Financial Planner is the most important form of identification. A CFP passes a test conducted by the Certified Financial Planner Board of Standards. The tests check candidates on the specifics of personal finance. The CFP commits to continuing education in financial matters and ethics classes. This is needed to maintain their designation.

The lack of specialist knowledge should not rule out the commitment of one person. You should pursue any course unless it affects success in the areas that are most important to you.

How can I qualify as a financial advisor?

A bachelor's degree is required for a career as a financial advisor. Majors in finance, economics, business, statistics or similar fields are acceptable. Financial advisors can be generalists, or they may specialize in one of several areas, including retirement, taxes, estate planning, or insurance and risk management. 

Some Top Courses for Financial Advisors are

  • Seminar on Financial and Fiscal Planning

  • Organizational Development Professional

  • Financial Strategies for Successful Retirement 

Colleges offering Financial advisor course

  • International College of Financial Planning, Delhi

  • The Indian Institute Of Financial Planning

  • RNIS College Of Financial Planning

  • IFM-The Institute Of Finance & management

  • NIFM Lajpat Nagar - NSE SEBI Stock Market training Institute

How much does a Financial Advisor make in India?

  • Average Salary for a Financial Advisor in India is Rs 359,202/yr

  • The average salary of a Financial Advisor with less than 1 year of experience is Rs 266,663/yr

  • The average salary of a Financial Advisor  1-4 years of experience is Rs 305,437/yr

  • At Senior level (5-9 years of experience) a Financial Advisor in India makes Rs 488,730 /yr

  • With 10-19 years of experience, Financial Advisor in India makes Rs 988,696/yr

  • And after 20+ years of experience, a Financial Advisor in India makes Rs 2,095,238/yr

What are the Books and Study material available?

For study material related to Financial Advisory course, click here