The Path to Becoming a Financial Advisor

Who is a financial advisor?

Before we get into the mainstream definition of who a financial advisor is and what they do, you need to know that it is an umbrella term for various other roles that fall under it, which are:

  • Financial planner
  • Mutual fund dealer
  • Portfolio manager
  • Insurance advisor
  • Financial coach

A financial advisor is someone who advises their client on how to better manage their finances. Not only do they guide you on the ways their clients can increase their income and manage their savings, but they also help them rise out of challenging economic times.


What Do You Need to Become a Financial Advisor in Toronto?

You don’t particularly need a master's degree to become one, but there are specific certifications you must have under your belt to become one. Though it helps to have a background in finance or some related field, you can always take on courses such as asset allocation, taxation, portfolio management, etc.

The Canadian Securities Course (CSC), taught by the Canadian Securities Institute (CSI), is the minimum requirement for most financial services professions and is a must for one to start on their path to becoming a financial advisor in Toronto. It is also a prerequisite to obtaining a securities dealer license.

Certification Required

Every financial advisor must complete the Canadian Securities Course (CSC) to qualify to offer financial advice. In addition, you will have to pass exam requirements for the specific area of practice you want to pursue or are interested in. Here are some examples of the additional exams you may need to pass:

  • Canadian Investment Funds Exam (CIF)
  • Canadian Investment Manager (CIM) designation
  • Chartered Life Underwriter (CLU) Exam
  • Chief Compliance Officers' (CCO) Qualifying Exam
  • Investment Funds in Canada Course (IFIC) Exam
  • Examine for Mutual Fund Dealer Compliance (MFDC)
  • Life Licence Qualification Program (LLQP) Exam

You can register for all of these exams throughout Canada, as CSI Global Education has exam centers all over the country. It is a must for you to pass all securities exams within three years of applying for registration.

Experience needed

Before submitting an application for a securities registration, you must have at least 12 months of experience working as a securities advisor. You ought to choose a job that will allow you to gain experience in a field that is relevant to the career you intend to pursue when you register.

The Path to Becoming One

After reading this article on the subject, you may have come to the realization that becoming a financial advisor in Toronto cannot be accomplished in a matter of mere months. Depending on the practice you want to pursue, there are a number of levels involved in this professional path, and you will essentially establish the skills required in the speciality of the field you go for.

You can go through the link provided below to get more hands-on information on how to become a financial advisor in Canada and what is needed for you to do. www.allegiantcg.com


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