How To Become a Financial Counselor

A financial counsellor is considered to be a coach that is ready to whip a person in shape when it comes to finances.  A financial counsellor is a professional that can help people achieve what they want financially whether they are badly in debt or simply want to make the most of the money they currently have through investments. In order to become a financial counsellor, you will need to learn as much as you can about the financial industry including all aspects and variables about it.  You must know the intricacies of the whole industry of investments, from stocks to real estate to insurance.  At the same time, you must be familiar with debt problem-solving which includes knowing the ins and outs of the banking and credit industry.  Basically, you will want to be the all-around utility man when it comes to financial advice and counseling.  These being said, in order to become an effective financial counsellor, you will have to acquire various licenses to build up your credentials as an expert and recognized professional in the field.  Here are some steps on how you can get from a mediocre financial wizard to a licensed financial wizard.

  • Take an insurance training program.  One of the initial steps in becoming a financial counsellor is to be well versed in the insurance industry.  This program trains you to know the intricacies of the insurance industries and is the stepping stone you need to take in order to become a licensed insurance professional who can actually sell insurance policies.  As a financial counsellor, you would do well to become knowledgeable and licensed in this area since most of your future clients will definitely want to get their hands on a bunch of insurance policies to stabilize their economic futures.  The program is being offered in a number of schools and colleges.  If you do not fancy the school environment, you may take the program online as well.
  • Pass the licensure exam.  After completing your insurance training program, the next step will be to get the license that the program trained you for.  Register, take, and pass the Insurance-Producer licensure exam.  This exam is administered and required by all states in order for you to be able to sell insurance in the state.  The license will now allow you to sell various forms of insurance, from health and life insurance to disability and long term care insurance.
  • Be a securities broker.  Another facet of financial counseling will be the ability to analyse and trade in the market.  Stock market trading is still one of the major investments that any person will make because of its economic viability.  Well, your future clients will surely look into this arena so you need to be well-versed in this field and if possible, licensed as a broker or dealer.  Now, in order to do this, you will first need to get a licensed broker or dealer to sponsor you for the exams you will need to take in order to become a broker or dealer yourself.  The exams you will need to take and pass the Series 6 and 7 exams.  However, you will need to be sponsored by an existing licensed broker to be able to register for these exams.  Furthermore, you will definitely need to enrol in securities training programs to learn the intricacies of the industry and to prepare you for the exams as well.

These are the major requirements you will need to obtain if you really want to be an effective financial counsellor.  Anyone can actually coach a person on how to spend or invest his money but only the chosen few will be able to actually provide the investments and solutions needed by a person in order to climb the ladder of financial success.


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