A good question to ask financial advisors with every conversation is, "What's new in the industry?". It takes a lot of working hours to get started. We all know that clients are the biggest wealth destroyer of all and we don’t manage money (anymore) we manage people. Registered in England and Wales. Performance chasing is like a patient going to see a doctor for more drugs. A financial advisor should have a CFP® or CFA credential and a four year degree in a supportive field such as finance, financial planning, or economics, etc. However the client in front of us thinks we’re managing his/her money, when really the majority of my focus is in managing them. After doing necessary research, it’s time to start on the lists. To create successful financial plans, financial advisers need to be aware of their strengths and skills and manage their clients’ misconceptions, says Andy Hart, financial planner and founder of thevoyantist.com. Humble people often seek help, which is encouraging. Modern media and access to ‘free’ information is maybe our biggest threat and our client’s most destructive influence. Lines and paragraphs break automatically. You can keep going as high as you want to go. The career also has a slew of drawbacks that range in severity and duration. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Here is a look at the pros and cons of being a financial advisor. There is an unlimited earning potential in working as a financial advisor. The benefits of a career as a financial advisor go well beyond compensation. Being able to sell their services across the entire spectrum of financial planning, from investment management to estate planning, is necessary for financial advisors to be successful. You really can earn what you’re worth. You may need to develop a client base from scratch and spend some money on marketing your firm or individual brand, but over time your hard work, reputation, and brand awareness can help you earn what you’re worth. The actual initials don’t matter, so virtually any field-related long-distance certification program will work. Regardless of how well we think we’ve trained our clients, they will still make most of their decisions on emotion over logic. Other weaknesses could be low market share, over-dependence on a small number of customers, unreliable suppliers and so on. After lists are prioritized and trimmed, they can be set side by side to gain insight into how the strengths, weakness, opportunities and threats may be related. Strengths include any internal features of the business that give it an advantage over competitors. This can be expanded to all areas of life, you should be wary of someone who can answer any question without missing a beat. You should (without any guidance) rate each other in terms of a strength or weakness for every quality, and you’ve got to be brutally honest. We all know money is like a bar of soap, the more you touch it the less you have. Weaknesses are internal features of the business that could put it at a disadvantage. As is the case with other brainstorming sessions, the emphasis is on an efficient and free flow of ideas, not on being selective about which viewpoints to include or exhaustively exploring any topic. However being professionally authentic is crucially important in reaching the top of this mighty profession. What does a financial advisor do? There can be a lot of uncertainty in the first 5 years that can be difficult to accept if there isn’t supportive income from another source. This is why the key to assessing your strengths and weaknesses is to involve other people—and it doesn’t have to be a therapist or coach. This may result in uncomfortable discussions, maybe even clients leaving you.

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