Finance

How to become a Financial Advisor

From no experience: every step, how long it takes, and the credential it earns.

Time to get there

6–18 months

Typical pay

$55k–$110k

Starting from

No experience

Pay is an estimate of typical US entry-level pay for this role and varies by state, employer and shift. The timeline assumes you are starting from no experience and includes any licence or programme legally required — not just course length.

The route

1. 1

   1–3 months

   Get hired by a firm that sponsors you

   You need a sponsor to sit the securities exams. Nobody does this alone at the start.

2. 2

   3–6 months

   Pass the SIE and Series 7

   SIE can be taken unsponsored; Series 7 requires a sponsoring firm.

   ◆ FINRA SIE and Series 7

3. 3

   Add Series 66 and insurance licences

   Needed to advise on managed accounts and to sell annuities or life cover.

   ◆ FINRA Series 66, state insurance licence

4. 4

   2–4 years

   Build a book of clients

   Said plainly: the first two years are prospecting, and most new advisors leave in them.

5. 5

   Work toward CFP

   The credential that shifts you from selling products to genuine planning work.

   ◆ CFP (CFP Board)

6. ✓

   Destination

   Financial Advisor

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