How to become a financial advisor?

[Alphathree33]

I have an engineering degree but I've suddenly discovered this passion I have for managing money.

Right now I'm only managing my own money, but I absolutely love it for some reason.

I also really enjoy helping and teaching, and I think I have something to contribute when it comes to money.

This would be essentially a career change for me -- except that I'd slowly start my own business, not go work for someone else.

In other words, I'd probably do it part time for quite a while as I built up a list of clients.

Obviously investments and securities are a highly regulated area. Does anyone know what sorts of licenses and/or certifications it takes to do legitimate work in this area?

 

[BigJ]

Google "CFA"

 

[Ns1]

Being a financial advisor has little to do with how much you know but everything to do with how well you can sell.

 

[Alphathree33]

Ns1 - point taken. I'm not asking what I need to know; I'm asking what I need to have to do this legally and legitimately.

BigJ - I Googled "Chartered Financial Analyst". Question: *MUST* I become a CFA, or is it simply a nice-to-have?

 

[chusteczka]

No license is necessary to be a financial advisor. Anyone can do it. However, earning a CFA license would help very much.

 

[BigJ]

Originally posted by: Alphathree33
Ns1 - point taken. I'm not asking what I need to know; I'm asking what I need to have to do this legally and legitimately.

BigJ - I Googled "Chartered Financial Analyst". Question: *MUST* I become a CFA, or is it simply a nice-to-have?

From what one of my professors said, it's not something you must have to do any advisory work, but he said it will certainly help you advance in the field.

My advice is to talk to someone in the Business School at your college.

 

[dirtboy]

Get a degree in marketing, knowing anything about money management won't help you get clients. Good marketing > *.

 

[vi edit]

Originally posted by: chusteczka
No license is necessary to be a financial advisor. Anyone can do it. However, earning a CFA license would help very much.

If you are giving advice on securities and other types of investment vehicles you will require a Series 7 at the most basic level and possibly a 66 and any number of others if you are actually selling securities.