Comments on: Q&A: Personal Finance Advisor?

By: TG

TG — Wed, 24 Aug 2011 12:34:32 +0000

I didn’t go to college but I have a Life Lic. Mortgage Certified and studying for my Series 6 & 63 as well as a great understanding of the market. Business mgt and marketing don’t teach you a dam thing about personal financial service, only how to to work for some big company and take care of their books. Call and talk to a CFP, ask them what they did. Go to Citi Bank and talk to their Smith, Barney rep. Ask your teach if they know the Rule of 72. Yes there are state and Federal test you have to take. Good Luck it can be done.

By: Gary S

Gary S — Wed, 24 Aug 2011 12:03:09 +0000

I was recently hired on as a financial advisor with Edward Jones in Arkansas. They have 17,000 applicants a month nationwide, yet only hire about 235 of those who apply monthly. I have a Bachelor in Business with a sales background. To be qualified, you should have some sort of Business or Accounting degree AND have sales experience. You have to get people to buy from you and invest with you. The potential customer must be able to trust you that you will take care of them 100% of the time. Good luck.

By: moneyblogreport

moneyblogreport — Wed, 24 Aug 2011 11:09:37 +0000

A history degree is always a great Bachelors to have. So many things you can do with it; law, teaching, CPA, etc.

Most Professional Finance Advisors hold advanced degrees. I don’t believe you’ll get enough academic experience at the undergraduate level.

By: RPizzle

RPizzle — Wed, 24 Aug 2011 10:53:35 +0000

The standard for a personal finance adviser is the CFP (certified financial planner) designation. This requires an extensive examination, and 4 years of college education to take.

While anyone with a college education is eligible, accounting would give you a leg up, however, there isn’t anything wrong with general business. CPAs may be able to test out of some areas of the exam, as well a command a higher salary due to the multiple specialties.

Also, Masters degrees are available at various universities in personal finance which incorporate the CFP exam and training within. Plus, Texas Tech (I think), just started the first doctoral program in personal finance (Ph.D.) A Chartered Financial Analyst (CFA) is another option if you ever want to deal with businesses and their investments. This has a three year, multi-tiered test, but can command a 100k plus salary.

Overall, while accounting may be good, personal finance has a lot more to it, such as securities, real estate, investments, funds etc. Go with what makes you happy, because realistically, college is just the stepping stone.