Financial advisor
What does a financial advisor do?
Financial advisors help individuals and businesses make informed decisions about managing and growing their finances. They provide guidance on areas such as investments, superannuation, insurance, retirement planning, and wealth management, helping clients understand their options and choose suitable financial solutions. Financial advisors assess a client's financial circumstances and goals, provide tailored recommendations, and support the implementation and review of financial strategies.
Financial advisors may work in banks, accounting or advisory firms, wealth management companies, or operate in private practice. Their role requires a strong understanding of financial products, market conditions, regulations, and ethical responsibilities.
Is a career as a financial advisor right for me?
A career in financial advice may suit you if you enjoy working with people and helping them plan for the future. Useful skills and attributes for this profession include:
An ability to analyse and interpret information.
Clear written and verbal communication skills, supported by strong interpersonal skills.
Proficiency in using technology, digital tools, and relevant software.
The capacity to lead through effective decision-making, accountability, and support for others.
Effective time-management and prioritisation skills.
The ability to take initiative, demonstrate personal drive, and maintain a professional attitude.
A sound awareness and understanding of industry and trends.
How to become a financial advisor
If you are exploring how to become a financial advisor, the pathway in Australia involves meeting education and professional standards set by the financial services regulator. This typically includes completing an approved bachelor's degree, passing a national exam, and undertaking a professional year of supervised practice. Ongoing professional development is required to maintain compliance and remain current with regulatory and industry changes.
Every journey to study is individual, and there are several pathways to building a career in financial advice depending on your background and goals. A common path to becoming a financial advisor:
- Complete a bachelor degree in finance, business, commerce or a related field.
- Meet the education requirements for financial advisers in Australia.
- Gain practical experience through internships, placements or entry-level financial services roles.
- Develop expertise in financial planning, investments, superannuation and risk management.
- Pursue professional development and continue building industry knowledge throughout your career.
Professional requirements
To provide personal financial advice in Australia, financial advisers must meet education and professional standards requirements set under Australian law. This typically includes completing an approved qualification, passing the Financial Adviser Exam administered by the Australian Securities and Investments Commission (ASIC), meeting ongoing continuing professional development requirements, and complying with the Financial Planners and Advisers Code of Ethics.
How long does it take to become a financial advisor?
Completing a bachelor's degree typically takes around three years of full-time study. Following this, graduates must complete a professional year and pass the national exam before providing unsupervised financial advice. The total timeframe can vary depending on individual circumstances.
Start your journey with UniSQ
Build the knowledge and professional skills needed to become a financial advisor with a UniSQ finance or business degree, helping clients navigate investments, risk and wealth management decisions.
Responsibilities and work settings
Meeting with clients to assess their financial needs and investment preferences.
Providing advice on investment, superannuation, insurance and wealth management products.
Recommending financial solutions tailored to clients' circumstances and risk profiles.
Analysing market conditions and investment opportunities.
Assisting clients to implement financial strategies and investment decisions.
Monitoring portfolio performance and recommending adjustments when needed.
Building trusted client relationships and providing ongoing financial guidance.
Ensuring advice and recommendations comply with financial regulations and professional standards.
Banks and financial institutions
Accounting, consulting and professional services firms
Government agencies, departments and councils
Non-profit, charity and community organisations
Mining and resources companies
Manufacturing and industrial companies
Financial advisor FAQ's
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