To become an online financial advisor, you must receive the appropriate university education, on the job experience, and certification. A bachelor's degree in accounting or a related field usually suffices. The certification process will differ according to the country but in the United States, each state issues a license, and each financial advisor is responsible for securing certification. As a professional who would like to provide online financial advice, you should have good web design and website management skills in order to launch and maintain your own consultancy's site.
During the university years, most aspiring financial advisors major in accounting, finance, economics, or business management. Getting a bachelor's degree will help establish your credibility in the crowded Internet financial services space. Any of these degree programs of study will familiarize you with concepts to which you will routinely refer during your career as an online financial advisor. You will learn how to calculate and manage risk, how to decipher complicated financial statements, and how to optimize even the most dire financial situation.
Some sources recommend that the professional who seeks to become an online financial advisor take a couple of courses in psychology. Financial consulting is as much about calculating numbers and manipulating figures as it is about empathizing with people who are afraid of the consequences of their financial actions. Learning how to effectively communicate with clients who do not have as much financial knowledge as you is very important in establishing trust. If you can understand the state of mind of your clients, who oftentimes are in poor financial health and need assistance, then you will go far in building a rapport with them. Listening and sound, personalized advice will ensure that individuals become regular clients who trust you with all of their financial planning needs.
Experience is quite vital if you want to become an online financial advisor. Internships or entry-level jobs in financial planning are great avenues for exploring the world of online financial services. These jobs will introduce you to the most effective web design for capturing clients' attention. You will learn the skills necessary to assess a client's financial situation, and offer that advice through online means.
Licensing and certification is a part of the professional process. The most serious among those who seek to become an online financial advisor will take the Certified Financial Advisor (CFA) exam. In the United States, this exam is taken over two days and totals ten hours of actual testing time.
