Financial advisors are in high demand in Australia, and for a good reason. As more Australians become aware of the importance of financial planning, the need for financial advisors continues to grow. If you are interested in pursuing a career in financial advising in Australia, this guide will provide you with how to become a financial advisor all the information you need.
How to Become a Financial Advisor: 04 Important Steps
Step 1: Obtain a Relevant Degree
The first step to how to become a financial advisor in Australia is to obtain a relevant degree. A degree in finance, accounting, economics, or a related field will provide you with the foundational knowledge you need to succeed in this field.
Step 2: Gain Work Experience
To be a successful financial advisor in Australia, you will need to gain relevant work experience. This can include working in financial planning, investment management, or other financial services roles.
Step 3: Obtain ASIC Approval
Once you have completed your degree and gained relevant work experience, you will need to obtain ASIC approval. This involves passing the RG 146 certification, which covers the required knowledge and skills for providing financial advice in Australia.
Step 4: Join a Financial Advisory Firm
After obtaining ASIC approval, you can start applying for positions at financial advisory firms in Australia. This can include large national firms or smaller boutique firms. You may also choose to work as an independent financial advisor.
What qualifications do I need to become a financial advisor in Australia?
To become a financial advisor in Australia, you will need to complete a degree in finance, accounting, economics, or a related field. You will also need to obtain a financial planning qualification approved by the Australian Securities and Investments Commission (ASIC).
What work experience do I need to become a financial advisor in Australia?
Most financial advisory firms in Australia require candidates to have at least two years of experience in the financial services industry. This can include work as a financial analyst, accountant, or investment banker.
How do I become licensed as a financial advisor in Australia?
To become licensed as a financial advisor in Australia, you will need to pass the ASIC’s Regulatory Guide 146 (RG 146) certification. This certification covers the required knowledge and skills for providing financial advice in Australia.
How to become a financial advisor in Australia requires a combination of education, work experience, and certification. By following the steps outlined in this guide, you can start your journey towards a successful career in financial advising.