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How To Become A Financial Consultant

become a financial consultant

Knowing how to become a financial consultant is essential for individuals wanting to pursue this career. A financial consultant’s duty is to provide clients and companies with financial advice, which includes guidance on savings, investments, pensions, and insurance products. 

As a financial consultant, you’ll have the opportunity to work with a wide range of clients and businesses. Become a financial adviser if you are good with statistics, enjoy working with people, and have a keen interest in investing and financial planning.

For those interested in becoming a financial adviser, this article provides step-by-step guidance on what it takes to become a financial advisor and answers frequently asked concerns regarding this career path.

What does a financial consultant do?

A financial consultant is a professional who supports many aspects of personal finance, such as budgeting, saving, investing, and retirement planning. Clients rely on financial consultants to assist them in navigating their finances and achieving their financial objectives. Certain financial counsellors work with corporations as well as individuals.

A financial advisor’s day-to-day responsibilities might include the following:

  • Discussing monetary matters with clients. Clients meet with financial advisors to review their present financial condition and long-term financial plans.
  • Financial advisers are frequently responsible for creating their own client lists, which entails promoting their services through seminars or webinars, attending events, and networking.
  • Providing regular reports. An essential aspect of a financial advisor’s job might be to provide financial reports that show how the goods they sell are progressing or are likely to perform in the future. they sell.
  • With reports, financial advisers spend a significant amount of time generating individualised recommendations to assist their clients in achieving their financial goals, frequently through recommending investments.
  • Financial consultants can buy and sell financial goods on behalf of their customers, bargaining with suppliers of these products to secure the best rates for their clients.
  • A financial advisor’s clients rely on them to keep an eye on their investment portfolios and make modifications to help them achieve their financial goals.
  • Financial advisers must keep up to speed on the newest financial products and new rules and regulations that potentially affect their clients’ success.

Skill requirements for becoming a financial consultant

To be a successful senior financial consultant, you need the following skills:

Knowledge of financial products

Having a background in finance or accounting is essential, but financial consultants also need to have a general knowledge of the products and services they’re marketing. To assist consumers in making intelligent decisions, senior financial advisors should have a solid grasp of the items and services they’re marketing. A customer’s financial status might be affected by understanding the advantages and disadvantages of various options.

Problem-solving skills

With customers, financial advisors may confront difficulties. They need problem-solving abilities. For example, a client may struggle to pay off a substantial debt. Their debt may be solved by consulting with a senior financial advisor.

Good communication skills

Financial consulting positions need strong interpersonal and verbal communication abilities. Communication with clients might occur in person, over the phone, or via email. You may also need to contact other financial advisors and management to provide information or discuss your clients’ needs. Communicating effectively with coworkers and customers is essential for any job.

Excellent leadership qualities

Managing a group of young financial consultants may fall to senior financial consultants with strong leadership qualities. Motivating your team to meet deadlines is easier when you have strong leadership abilities on your side. Leadership skills may also be used to teach and develop younger financial consultants.

Critical thinking skills

Critical thinking is the capacity to assess a problem and make an informed choice. As a financial advisor, you may be required to propose a client’s financial strategy. Clients’ existing financial condition can be analysed, and recommendations for how to improve it can be made. Senior financial consultants are often tasked with making major financial choices on behalf of their customers, thus they must be able to do so in the best interests of the company and its stakeholders.

Step-by-step guide to become a financial consultant

To become a financial adviser in the United Kingdom, you must have at least a level 4 certification recognised by the Financial Conduct Authority in financial counselling. In order to complete the process, below are some further steps:

1. Pursue a college degree or a higher-level apprenticeship.

Begin by earning a bachelor’s degree in a financial-related field. A lot of financial consultants choose to pursue degrees in accounting, financial services, or management. It is common to need two or three A-levels (or an equivalent) in order to be considered for a degree programme.

An alternative route to becoming a financial adviser is to enrol in an advanced or professional degree apprenticeship in the financial services industry as your first step. A*-C GCSEs are normally required for a higher apprenticeship, whereas A-Levels or an equivalent qualification is required for a professional degree apprenticeship.

2. Showcase relevant qualifications and experience on your resume.

You can work as a financial advisor after completing either a degree programme or an apprenticeship. A paid internship or an entry-level career in the financial services industry is the next logical step for you to take. When applying for a position like this, you’ll need to put up a resume that showcases your relevant abilities.

The applicable talents from the list above, such as customer service and attention to detail, can be highlighted on your CV even if you don’t yet have professional experience in this field.

3. Successfully complete a training phase

An internship with an experienced financial adviser is a requirement for most entry-level financial services employment. Learn about the company’s workflow and the abilities required to suggest financial products, grow customer lists and generate high-performing investment portfolios from your colleagues. The length of your training period will be determined by the organisation you work for, but as you get more expertise, you will be able to work on your own initiative more frequently.

4. Develop your expertise and your client base.

The abilities described above will be further developed when you begin to work as a financial adviser, notably your knowledge of current financial products and how to construct efficient investment portfolios for your customers. As part of your soft skills training, you’ll learn to better understand your clients’ needs by actively listening.

Developing trusted professional connections with your clients is the most essential benefit of working with them for a long period of time. Increasing your customer list is possible by spending time networking, such as by attending events.

Alternative pathway to becoming a financial consultant.

By starting as an entry-level employee at a bank as a customer service or financial services administrator, you may work your way up the ranks of a financial adviser without a bachelor’s degree. To practise financial consultancy, the Financial Conduct Authority requires that you have a level 4 financial advisory certification. To put it simply, a bachelor’s degree begins at level 4. As a part-time student, you may be able to complete this certificate while still working.

It’s also possible to earn your certification as a financial advisor while you work. This implies that many financial advice businesses will pay for you to get your degree while you work as a trainee and learn the practical skills needed to succeed in the field.

How much does a financial consultant earn?

The average salary of a financial consultant is 33,217 in the United Kingdom and $72,000 in the United States. The pay range depends on numerous factors like location, employer, company, and roles.


Becoming an exceptional financial consultant who proffers solutions to problems is an excellent goal to set. Get the necessary certification, be a lifelong learner, acquire skills and experience, and watch your career sky-rocket! 

The Hawkish Institute can help you further your career in financial consulting. Training in personal and public banking, tax consultancy and other fields is available through our company. For further information, please contact us at the toll-free number +44 7746 308575.