Financial advisers provide guidance to individuals and businesses regarding their financial affairs. It’s a highly respected role, always growing in popularity.
The scope of advice given varies from client to client – from simple investment advice to complex tax and estate planning. Regardless of the advice required, the same key skills and regulatory requirements apply. We’ve outlined everything you need to know here.
As an adviser, much of the day will be spent speaking to clients and effective communication is key here! You’ll need to be able to listen to your clients needs, objectives and even their hopes and dreams – so it often takes a meaningful conversation or two to build up some trust before giving financial advice.
Advisers are personable, flexible with their time and easy to talk to – and that’s just the soft skills. Technical ability is also fundamental. Advisers need to be level 4 qualified, with a deep understanding of financial products, the market and regulations; plus the analytical ability to draw sensible conclusions and the communication skills to explain them clearly. Compliance is a must too - advisers need to remain up to date with legislation as laid out by the FCA.
To become a financial adviser, you need a level 4 qualification in financial advice as recognised by the FCA. To get the edge over other candidates, it can help to study other relevant subjects in financial services that help provide a well-rounded view. Below, we’ve pulled together some training modules that are a good fit – all of which can be completed online.
Financial advisers often move into specialisms, including pensions and tax planning. Others choose to move into paraplanning, or choose management roles in which they oversee other advisers and business development.