How To Become a Registered Financial Advisor!

Josh Olfert is a professional CFP wealth advisor and the Founder of Haven Wealth based in Canada. Through this channel Josh shares his knowledge of wealth accumulation and personal finance to the world, in an effort to improve financial literacy and help advisors and their clients achieve their financial goals.

All numbers and figures discussed in this video are purely for illustrative purposes and are not to be taken as financial advice.

Josh Olfert is a professional CFP financial advisor and the Founder of Haven Wealth Management investment fund based out of Winnipeg Canada. Through this channel Josh shares his knowledge of wealth accumulation and personal investing to the world, in an effort to improve financial literacy and help everyone achieve their financial goals.

All numbers and figures discussed in this video are purely for illustrative purposes and are not to be taken as financial advice.

[savannaboston]

I am less than a year away from finishing my bachelors degree in finance with the hopes of becoming a financial planner. I wish I would have known earlier to try and switch up my concentration to work on those soft skills that you had mentioned--looking back, I believe they would have helped me just as much in the industry! Thankfully, I'm taking a marketing elective soon, which should at least help me with my skills in sales.

I'm a sucker for self-learning about finances. I consume all the podcasts, books, essays--anything I can get my hands on! This is actually what led me to look into financial planning and advising, where I have a natural inclination to help others with their financial literacy and goals.

Thank you for this video; it's shown me that i'm moving in the right direction with both my personal and professional studies. It's the feedback I've been needing!

[NickVetter]

I'm a finance major, but I started out in math. Now I'm taking sales classes to help become more well rounded, but I have a little experience because I have small business. I also am studying for my sie right now and have some people close to me working as advisors.

[shaolinprince]

Not to be that guy, but you did actually forget one license that's required after passing the Series 7. It's either the Series 63 or the Series 66. Most firms here in America require their financial advisors to have one or the other. Great video though.

[NBA]

Thank you for making this video. This tells all us newbies exactly the path required to become a Certified Financial Planner. I have my Bachelor's degree and just got a position with a financial institution. They will pay me to study for my SIE, Series 7 and 66. I want to be a CFP, so this is pretty exciting. I also have no experience in finance. My Bachelor's is in IT.

[juanrivera]

I'm 24, I work security. I only have a high school degree. I have been working on own my finances these past years. Helped my older brother with his finances by increasing his investments. I like reading bank statements the know hows about money. I want to help low income families like mine, educate them about money, and allocate their money as well. Are these the qualities for a financial advisor or something else?

[nat]

If you are in the United States you don’t need a sponsor to get the SERIES 65! (Which is the most important licence for advising!) You can take it by yourself.

To be honest, unless you don’t have Finance background and you wanted to see if this is the right path for you. You don’t even need the SIE. The SIE is a prerequisite for the Series 7 and that usually leads to the broker dealer model. Which is more sales and less Financial advising. Plus you still need a Series 66 to do the broker dealer models. Most that go into this route burn out fast!

(Note the Series 66 is a qualifying substitute for the Series 65)

If you want to do true financial planning and advising and you have the drive to succeed. Just apply for entry level Paraplanner, or client service associate jobs at an independent RIA firm and most of those firms can pay for your Series 65. But it’s hard to get those jobs (competition is high), so if you have the means, what I would do is just study for the Series 65 and seat for the exam, and you will be highly marketable for independent RIA firms and they pay decent starting out! (And this will be a better route than the wire-house model of going through SIE, Series 7 and Series 66.)

Then when you get into these independent RIA (Registered Independent Advisor) firms. Most have reimbursement option for your CFP education cost which can go up-to $10, 000 and you also have the opportunity to get the 4000 or 6000 apprenticeship hours experience needed to get the CFP credentials while working there! So for me it’s SERIES 65 and CFP!

I understand most won’t be lucky to get a firm that want to invest in them or lack the money to take these exams so unfortunately have to suffer through the broker dealer/Wire house model. That is taking a sponsored SIE, Series 7 and 66 exams route. Just make a plan to move to an RIA after 6 month to 1 year experience. Now you have 1 year experience RIA’s will be open to you. Trust me your mental health will thank you later!

[deltawavestm]

This was probably the greatest video I’ve seen on YouTube. Thank you

[wolfgang_lupos]

So in summary:
1) Get SIE (U.S.)
2)Get Bachelors (*sad noises)
3) Document the whole experience online (build online presence)
4)Get Series 6&7 (gotta get both?)
5)Pass CFP Exam
6)Get Sponsor (6k hr intership?)
7)Do a Kapstone project/get credentialed
8)Start your own business cus working for some one else is bootycheeks
9)Get the military to pay for most if not all of this (applies to me/ people in my position)
10) Celebrate by taking a long ass vacation
I think I got it all but, please correct me if I miss ordered anything/ forgot something.

[davezoller]

Great ideas on content creation, Josh! After providing great service to our clients, CREATING CONTENT has been the single best thing we've done for the growth of our financial practice.

[nathanielwarren]

Thank you for laying out steps and a pathway for those of us interested in this career!
Currently at college and looking down this career path. Trying to figure out how to best go about getting certifications and qualifications has been pretty confusing. (Lots of white noise on the internet)
Knowing the general steps needed is a big help. As I can now apply this to my life, and tweak things as needed!

Also thank you for being someone who provides an answer to the question “why?” in all your videos. I appreciate the context you give when providing information and your opinions.

[jackmorris]

Cfp offers certain bachelors programs that allow you to sit for the cfp exam upon graduation without professional experience

[prodcdebeatz]

first time watching this channel, but quality content. will be back.

[ChaimS]

Thank you for breaking this down, but I'm curious why you didn't mention the Series 65 route in the US? That doesn't require any education, any sponsorship, and is a great way to get started on your own. Yes, you can't actually sell investing products, and if you want to do that down the line you can go that route, but you can look into seeing if you even like this line of work without all that stuff, at least at first.

[ncheanye]

I just started my carrier as a financial consultant. Looking forward to become a financial advisor.

I learn alot from you sir.
Thanks.

[GabrielRodriguez-xdtb]

Books:
1. Rich Dad, Poor Dad
2. The little book of common sense investing
3. The intelligent investor
4. Security analysis

[rewiredbyadhd]

I agree with you. I'm have been studying the Accounting and Finance courses of edX for 3 months on my own, seeing the ones offered by MIT opencourseware and I have printed some books that offer the study plan of the FIU Finance career, already have Corporate Finance and Finance Math. I was studying Physics but the pandemic made me discover other things and I left university, I don't regret it, I love studying at home for free🙂 I only wish that in the future, they would make tests without asking for the 150 hours of a course validated by the corresponding entity. I mean, if I have the knowledge and you could make me like 5 or 10 different test, man just do it.

[roshnipatel]

Thank you! This video is super helpful! 🙌🏽

[Grayzful]

Another amazing video Josh. UR THE MAN

[andreslozano]

I feel relieved I found your channel. My dream has always been to start my own investment business, and after a lot of work, I got fully licensed last week. Though I've been sponsored by the same firm for years, I've been doing everything on my own (no salary / I've paid every single expense). I'm taking a couple of days to breathe because getting licensed has been time and energy consuming. I still don't have my first client, but I'm hopeful I'll do great with the experience and dedication I have. Not having anyone in the same spot as me has been hard at times, and watching your videos has been empowering. Have a great day!

[soloUplifters]

I’m going into it I’m so scared but excited