Being a financial advisor is a daunting job to take but at the same time, it also has a very lofty paycheck. You might be wondering right now how does a regular person can become a financial advisor and dictate someone’s financial assets and liabilities through mentorship and other professional assessment and approach to their clients.
It is a great profession that someone who is driven to achieve a successful path in terms of career because this kind of job is very relatable to our daily lives. Financial advisors can help a person who isn’t decided to buy something or invest in something such as purchasing a new house, paying debts, availing life insurance policies and etc. You see, we are constantly facing a lot of financial challenges that need to be addressed and what more effective way to address these but by a professional advisor.
Financial advisors have a very lofty paycheck amounting to $40,000-dollars up to $200,000 dollars annually depending on their client’s portfolio; meaning the richer their client, the bigger paycheck they’re gonna get. Aside from paychecks, they have also professional advisory fees and commissions depending on their clients.
When it comes to educational background, financial advisors are mostly graduates of business and finance related course and a lot of them pursue master’s degree to further improve their credentials which makes easier for them to attract clients. Some of these advisors initially studied finance related courses and after they graduated and earned a degree they often proceeded to business-related courses but nowadays, more and more universities around the world offer financial planning degrees.
In order to become a financial advisor or a financial planner, a person must be expert in helping people seeking financial stability and to guide them in the right path for their future investments that is why a bachelor’s degree related to financing and business courses is essential to be not just knowledgeable but also expert when it comes to these matters.
In a study conducted by the Financial Planning Association in 2009, more than 80-percent of financial planners and advisors started to work in a completely different field which is contrary to their professions and eventually shifts to financial planning services by applying to a financial firm.
The names financial planner and financial advisor can be used either way even though the proper term for these professionals are Certified Financial Planner which requires a certain course of study to earn it. In order to become a Certified Financial Planner, one must undergo a three-year tenure in the field of financial planning and will proceed to undergo a two-day examination.
When it comes to reliable financial planning, the New Jersey-based financing solutions company, Yorkville Advisors Global LP has its own roster of experienced and very reputable financial advisors and financial planners. Yorkville Advisor is a financial solutions company that specializes in alternative investment management, flexible and innovative debt and equity investments in various sectors such as shipping, technology, healthcare, mining, oil, gas, real estate and manufacturing.