How to Become a Financial Adviser
1) Evaluate your existing skills
If you are considering a career in financial advice, you should firstly reflect on the skills you currently have, evaluating how far they are compatible with those of the role specifications.
There are certain skills that are necessary for a successful career in financial advice, with perhaps the most important being excellent communication, interpersonal and listening skills.
Some of the other essential skills expected from financial advisers include:
- Being able to explain complex information in a simple, clear and concise manner
- Strong research and analytical skills
- Good time management, self-motivation and organisation skills
- Customer service skills
- The ability to network and establish healthy and positive relationships with clients
- A good level of numeracy and IT skills
- Having a target-driven mindset and a flexible approach to work
- Showing discretion and an understanding for the need of client confidentiality
- Displaying an ethical and professional approach to work
- Having good negotiating and influencing skills as well as determination and tenacity
If you find yourself to be prominent in the majority of the above skills, then you already have a strong foundation to build towards your financial adviser career.
2) Become certified to enhance your industry knowledge
Once you have identified the skills, the next step is to establish and showcase your expert knowledge and applied skills through gaining a highly-sought after industry qualification.
More specifically, the Diploma for Financial Advisers (DipFA), offered by the London Institute of Banking & Finance (LIBF), is a great place to start!
Financial advice is regulated by the Financial Conduct Authority (FCA), which requires all advisers who want to provide advice in the UK must attain a relevant professional qualification before they can do so.
Considered an industry benchmark, the Diploma for Financial Advisers meets the Financial Conduct Authority’s (FCA) qualification requirement for retail investment advisers and is designed to equip you with the knowledge and skills required to offer financial advice.
The diploma covers 6 modules:
- Module 1: Financial Services Regulation and Ethics (FRSE)
- Module 2: Advanced Financial Advice – Taxation (AFAT)
- Module 3: Advanced Financial Advice – Investment (AFAI)
- Module 4: Advanced Financial Advice – Protection (AFAP)
- Module 5: Advanced Financial Advice – Retirement Planning (AFAR)
- Module 6: Advanced Financial Advice – Coursework (AFAC)
Each of the modules above is individually assessed, and must each be completed to gain the diploma. Upon completion of the qualification, you’ll be entitled to become a Member of the London Institute of Banking & Finance (MLIBF), as well as gain access to LIBF’s Continuing Professional Development (CPD) services.
If that’s not enough, we are proud to launch our new partnership with The London Institute of Banking and Finance (LIBF) and bring you the new LIBF Digital Academy powered by ICS Learn.
Offering the DipFA 100% online, this innovative virtual learning platform offers learners the opportunity to study the Diploma for Financial Advisers (DipFA) remotely and at their own pace along with access to a variety of built-in benefits, including:
- Paperless learning
- Multi-device access
- Engaging and easy to absorb content
- Live online and recorded webinars
- End-of-unit quizzes, and
- Dedicated tutor support