Are you looking for a new career that will earn you major cash? Why not become a financial consultant? Finances are at the forefront of everyone’s mind, especially since the recession. Americans are forming a much closer relationship with their money and want to have competent leadership guiding their decisions. But in order to be a successful financial advisor, you don’t have to have a degree in financial management. According to a recent study, 88% of financial planners and advisors worked in a different profession first. This means that any persistent, money minded individual is able to succeed in this profitable market.
Many eligible financial consulting candidates receive professional development training from large firms like Wells Fargo Advisors and Merrill Lynch Global Wealth Management, without requiring tough advisory certifications. They prefer to put trainees through financial advising programs that help them achieve the necessary regulatory licenses to perform financial advisory duties. And most trainees are compensated well for their time, earning between $3,000 and $8,000 a month. Others forgo large firm training and find less formal avenues of training while working their full time jobs.
Although financial advisors should seek great financial training, they must also develop the personal skills that individuals have come to expect from their money managers. To be successful in today’s market, financial advisors must develop a deeper understanding of wealth management tools, the market, and be able to predict where the market will go.
Successful and comprehensive financial coaching will utilize these elements:
Coaching as a Process: Financial coaching is a slow paced, marathon.
Coaches must be committed for several months or even years to help clients fulfill short and long term financial goals.
Educational: Great financial coaching is based on education. Clients and financial advisors must work together to learn how their money can work for them. Smart financial coaches must learn how to select the right clients in order to establish a reputation.
Wealth Growth: The goal, and true indicator, of successful financial coaching is growth in client wealth. Without measurable growth, clients and financial advisors will be unable to learn which methods work best for the financial team.
The demand for financial coaching is on the rise. Individuals with a money, management, or financial background, should strongly consider building a financial advising business, and starting a financial consulting merchant account with eMerchantBroker.com. Our professional managers will process your client transactions and help expand your business.