If you run a financial advisor business, you may be wondering which types of financial advisors to hire. Well, this depends on your business needs and goals. Each type of financial advisor has different expertise and experience. They can offer your clients different types of advice and services. Here are six financial advisors to consider hiring for your business, what they do, and what they can provide for your business and clients.
1. Certified Financial Planner
A certified financial planner is a financial advisor who helps clients with comprehensive financial planning. This includes retirement, estate, investment, and insurance planning. Certified financial planners must have a bachelor’s degree and pass a rigorous exam to earn their certification.
2. Chartered Financial Analyst
A chartered financial analyst is a type of financial advisor who focuses on investment management. They provide advice on things like stocks, bonds, and mutual funds. To become a chartered financial analyst, one must have a bachelor’s degree and pass three exams: the Investment Management Exam, the Global Investment Performance Standards Exam, and the Chartered Financial Analyst Program.
3. Investment Advisor
An investment advisor is a type of financial advisor who provides investment advice. They can help with things like choosing stocks, picking mutual funds, and making decisions about 401(k)s and IRAs. Investment advisors must have bachelor’s degrees and pass the Series 65 or 7 exams.
4. Wealth Manager
A wealth manager is a type of financial advisor who provides comprehensive financial planning and management for high-net-worth individuals. This includes investment management, estate planning, tax planning, and retirement planning. Wealth managers must have a bachelor’s degree and pass the Certified Financial Planner exam.
5. Portfolio Manager
A portfolio manager is a type of financial advisor who manages investments for individuals, businesses, and organizations. They make decisions about things like stocks, bonds, and mutual funds. Portfolio managers must have a bachelor’s degree and pass the Series 65 or 7 exams.
6. Broker
A broker is a type of financial advisor who buys and sells securities on behalf of their clients. They can help with things like stocks, bonds, and mutual funds. Brokers must have a bachelor’s degree and pass the Series 7 exam.
Conclusion
And there you have it! These are six types of financial advisors to consider hiring for your business. Hopefully, this article helped you determine which types of financial advisors would be a good fit for your company and bring the most benefits to your customers.