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How To Become a Financial Counselor

Published By Team Setmycareer on Aug 19, 2023

How To Become a Financial Counselor

Financial Counselors help individuals, groups, families and organizations develop sound financial strategies. They advise clients on issues such as saving for retirement, decreasing debt, managing investments and income tax preparation. An academic background in accounting or finance and superb analytical skills are some of the tools prospective counselors need to get started in this profession. Financial Counselors help clients understand insurance policies, mutual funds, stocks, bonds and tax returns. By analyzing a client's accounts and financial needs, they can help strategize a financial plan for the future. These workers must know how to seek new customers, in addition to maintaining their old clientele. If licensed, Financial Counselors can also sell stocks, bonds and other investment products to their clients. Some financial counselors can also be private bankers to clients with notable wealth. They may work with a client's team of accountants, lawyers and financial analysts in order to manage the client's funds. Financial counselors may work in investment companies, banks, securities/commodity brokers and insurance carriers. They may also work for themselves in independent financial consulting firms. The duties of Financial Counsellor includes to interviews client with debt problems to determine available monthly income after living expenses to meet credit obligations, counsels client on financial problems, such as excessive spending and borrowing of funds, establishes payment priorities to plan payoff method and estimate time for debt liquidation. They also explains to individuals and groups financial assistance available to college and university students, such as loans, grants, and scholarships. It also includes to open account for client and disburses funds from account to creditors as agent for client, prepares required records and reports, authorizes release of funds to students and assists in selection of candidates for specific financial awards or aid.


Work Environment

  • Financial Counselors work first and foremost with the customers of a financial firm and try to sell debt-relief services to the client. They may also work for government or non-profit agencies that are dedicated to helping people reduce debt and manage shaky finances. They may need to work extra depending on the work load and need to organize their work to ensure its timely completion. Sometimes, they may work late in the evenings or at nights to complete the emergency work or if need to arrange and attend meetings with clients. Financial managers work closely with top executives and with departments that develop the data financial managers need. Most financial managers work full time.

Is This Career Right For You?

Are you feeling uncertain about your career path? Not sure which direction to take? Take the first step towards a fulfilling future

Entry Level Education

  • Bachelor’s or Master’s Degree in Finance, Business, Accounting, Mathematics and Economics.
  • Portfolio to demonstrate Artist's skills and Special talents.



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