Financial advisors typically need a bachelor's degree. A master’s degree and certification can improve chances for advancement in the occupation. Although employers usually do not require a specific field of study, a degree in finance, economics, accounting, business, mathematics, or law is good preparation for this occupation. Courses in investments, taxes, estate planning, and risk management are also helpful. Programs in financial planning are becoming more available in colleges and universities.
Financial advisors who directly buy or sell stocks, bonds, insurance policies, or specific investment advice need a combination of licenses that varies based upon the products they sell. In addition to those licenses, smaller firms that manage clients’ investments must be registered with government regulators, and larger firms must be registered with whatever federal government agency regulates these services.
Financial advisors should be good at mathematics because they constantly work with numbers. They determine the amount invested, how that amount has grown or shrunk over time, and how a portfolio is distributed among different investments.