FAQ
Financial Advisor FAQ
Answers to the most common questions about working as a financial advisor.
Straight answers to the questions people ask most about becoming a financial advisor: pay, training time, degrees, certifications and whether it’s a good career.
9 questions about financial advisors
What is a fiduciary?
An advisor required to act in the client’s best interest.
How long does the CFP take?
Education, an exam and several years of experience.
Do advisors need licenses?
Yes, to sell securities or give investment advice.
How much does a financial advisor make?
The median annual wage for financial advisors was $105,070 ($50.51 per hour) in May 2025, according to the U.S. Bureau of Labor Statistics. The lowest 10% earned less than $50,190 and the highest 10% earned more than $357,020.
How long does it take to become a financial advisor?
Most people need about Long-term on-the-job training of training. A bachelor’s degree in finance, economics or business is typical, plus licensing exams.
Do you need a degree to be a financial advisor?
Usually, yes. BLS lists a bachelor's degree as the typical entry-level education, although skills, certifications and experience can sometimes substitute.
Is financial advisor a good career?
It can be, depending on your goals. Employment is projected to change +1.4% from 2025–35 (slower than average), with about 17,100 openings each year. Upsides include high earning potential; a common challenge is that building a client base is hard.
What skills does a financial advisor need?
Key technical skills include financial planning, investments, retirement planning, and tax basics. Employers also value trust-building, listening, and communication.
What certifications are available for financial advisors?
Common credentials include CFP, Series 65 or 66, Series 7, and ChFC. Advisors who sell securities or give investment advice must pass FINRA or state exams such as the Series 7, 65 or 66.
Still deciding?
Try the Financial Advisor fit quiz, compare with Financial Analyst, or explore Financial Advisor training.
Sources
- U.S. Bureau of Labor Statistics, BLS Occupational Employment and Wage Statistics (OEWS), May 2025, SOC 13-2052 (Personal financial advisors).
- U.S. Bureau of Labor Statistics, BLS Employment Projections, Table 1.2 (2025–35).
- O*NET OnLine summary for Personal financial advisors (U.S. Department of Labor).
- BLS Occupational Outlook Handbook.
Reviewed by the Career Education Institute Curriculum Team. Pay figures are national estimates; local pay varies. See our editorial policy.