Even though there seems to be a financial collapse due to the US subprime woes, a career as a financial advisor is in high demand right now.
Financial experience will still be in demand, and it will be one of the first professions to recover when the economy improves. So brace yourself for a lucrative future in finance, and get ready for the banking industry to make a comeback. Get more informations of Honolulu Financial Advisor Association
Financial advisors must have a college education and a comprehensive knowledge of the complex financial markets. Furthermore, conducting technical financial studies necessitates a thorough understanding of the financial industry’s ever-increasing complexity. It is not enough to provide a thorough understanding of the industry. The company of financial advisors is all about individuals. If you want to make a living as a financial planner, you must gain your client’s trust.
A licence to operate is one of the requirements for financial advisors. There are particular exams that must be taken and passed in order to receive that certificate. You will be able to serve clients with the licence. However, various states can have minor variations in licencing standards. Much, however, would necessitate support from brokerage firms like American Express or Fidelity.
The NASD, or National Association for Security Dealers, administers the licencing test for aspiring financial advisors. The General Securities Registered Representative Examination, or the Series 7 Examination, is another name for it. After passing the test, the applicant must work for at least four months for a licenced brokerage firm before being allowed to work independently.
In several states, the financial advisor must also pass a secondary test. It focuses on evaluating the candidate’s general knowledge of securities and stock market business, as well as a comprehensive understanding of consumer protection rules, procedures, and liabilities. Since the applicants are normally working people, these courses are usually administered over the internet.