November 13th, 2012
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Become a Financial Advisor
To become a financial advisor in South Africa, individuals must obtain the right education and work towards earning working experience before anyone will trust them with funding. A financial intermediary, which is another term for an advisor here, have the goal of helping individuals and businesses to protect their investments, grow their assets and to ensure that no losses occur. The advisor will work to understand the goals and needs of the client and then find the most ideal financial investments for that individual to make to achieve goals. In this type of job, these individuals are able to earn an income through the successful investments they help to make.
About Being a Financial Advisor
In South Africa, many people afford themselves the goal of working to build financial wealth. Doing this on their own can be difficult, but with the help of a financial advisor, it may be possible. Those who wish to provide these financial opportunities to those in need will find that the career can be rewarding. Though individuals in this field must be dedicated and knowledgeable about financial investing, they also have to be people-oriented and economically-inclined.
Financial Advisor Training
To work in the field of financial advising in South Africa, individuals need to have formal training. To do so, individuals must have a licence. Under the country’s Financial Advisory and Intermediary Services Act, a national law, it is a requirement for anyone who is working in this field providing financial services to other people that they have a state-approved licence. To do so, individuals must obtain appropriate education in the form of a university degree. They must then apply for an FSP Licence. This licensing requirement is detailed in Section 8 of the FAIS Act.
Financial Advisor Jobs
Jobs in Financial Advisory Careers
In South Africa, individuals can work in the field of financial advisory in various capacities. Most commonly, they will work with individuals. The job is to provide individuals who wish to invest with the ability to do so. They provide advice to individuals about which types of investments may be ideal for their needs and then help the individual to make these required purchases.
Additionally, some individuals work within financial institutions providing advice and guidance not to individuals but rather to investors. These individuals may help companies to find the funding necessary for capital improvement projects or they may work to advise banks on which investments to make to achieve the goals of the financial institution. These positions often are more lucrative, but they also require additional training in fields such as mergers and acquisitions.
Those who wish to work as a financial advisor in South Africa should seek out proper education first. This requires a university degree with a focus on finance or related topics. Most employers do not hire those who do not have a degree in the field. Most prefer hiring those who have ample experience as well, though some may work in entry-level positions. As a lucrative career field with plenty of opportunity, those who work in this field can expect a prosperous career.