How difficult is it to be a financial advisor (broker)?

Answer 1

* State registration. Many states also require that financial planners be registered and have passed exams. State insurance or securities licensing will also be needed if your advisor is going to sell those products. Your state securities office can tell you if a financial professional is licensed to trade securities and whether any complaints have been filed against any securities trader. Call the North American Securities Administrators Association at 202-737-0900 for the local number in your area.
* Certified Financial Planner (CFP). This designation is awarded to people with at least three years of work experience in the financial planning field, who have completed an approved course of study, passed a rigorous exam on financial planning and met certain other educational and ethical requirements. It is offered by the Certified Financial Planner Board of Standards.
* Chartered Financial Consultants (ChFC). A ChFC certificate is awarded to people who have completed a designated course of study and passed the exams on personal finance offered by The American College in Bryn Mawr, Pennsylvania.
*
Certified Public Accountant (CPA). CPA certification alone ensures you that a person has passed a stringent examination on accounting and tax preparation, but it does not indicate training in other areas of finance. For that, you'll want to find out if a CPA has also been certified as a Personal Finance Specialist (PFS), a designation awarded by the American Institute of CPAs to those who meet certain requirements in the area of personal financial planning.
* Chartered Life Underwriter (CLU). People with CLU certification have completed course work and taken exams regarding life insurance. They do not necessarily have training in investments.

Answer 2

There are tests and designations, sure. But that's the easy part. The toughest part about being a financial advisor is succeeding at it. Only about 20% of the people who start out in the business actually make it. You pretty much have to start from scratch, and get hundreds of rich people to trust you with their life savings. And you don't get much help, if any. You're pretty much on your own.

Answer 3

You appeared to be puzzled. there's a brilliant distinction between an broking service, an adviser, and a planner and how they're paid. A broking service is paid by making use of commissions, an adviser might get fee and expenditures and a planner is paid by making use of expenditures. you will possibly be able to desire to accomplish a little extra analyze during this section concerning CFP, CLU, CPA, SEC and a lot of extra.

Answer 4

Have you ever though about trading for a living?? If so check out our company www.rematatrading.com