How to be a financial advisor in the Philippines?

Becoming a financial advisor is not as complicated as you might think but you need to put in some work to make it happen. In this page, we will discuss everything that you need to know to become a financial advisor in the Philippines.

Here are some of the topics that we will discuss

  • Requirements to become a licensed financial advisor
  • The duties and responsibilities of a financial advisor
  • Salary or income of a financial advisor
  • Cost to start a financial advisor business

If you are not sure where to start, you can talk to me to learn more about this business. Get a free consultation to learn more. Simply fill up the form below.

 

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What does a financial advisor do?

A financial advisor is an educator! A good financial advisor will journey with his client throughout the client’s lifetime to track his client’s financial situation and help manage his client’s financial portfolio. This is a lifetime partnership built on trust and commitment to the client’s goals and aspirations. 

Financial Status Evaluation

Financial status evaluation involves assessing a client’s current financial situation. Financial advisors analyze factors such as income, expenses, assets, liabilities, investments, and insurance coverage. They use this information to understand the client’s overall financial health and identify areas for improvement or potential risks. This evaluation serves as the foundation for developing personalized financial strategies and recommendations.

Current Financial Needs Management

Financial advisors also assist clients with managing their current financial needs. This involves budgeting, debt management, cash flow analysis, and optimizing tax strategies. Advisors help clients prioritize their spending, reduce unnecessary expenses, and make informed decisions about borrowing and lending money. By managing current financial needs effectively, clients can better position themselves to achieve their long-term goals while maintaining financial stability in the present.

Future Needs Planning

Aside from current financial needs management, financial advisors help clients plan for their future financial goals and objectives. This includes saving for retirement, funding education expenses, buying a home, or starting a business. Advisors consider factors such as the client’s age, risk tolerance, time horizon, and desired lifestyle to create a comprehensive plan that outlines specific steps to achieve these goals. They may recommend investment strategies, insurance products, and other financial vehicles to help clients accumulate wealth and achieve long-term financial security.

Frequently Asked Questions

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How much does a financial advisor earn in the Philippines?

A financial advisor earns based on his productivity. Income can be virtually limitless and is only limited by the time and effort you put into the business. You can even earn quarterly bonuses & enjoy trip incentives with excellent performance. As you stay in the business, you can also take advantage of employee-like perks like an HMO, life insurance & retirement plan.

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Financial Advisor Requirements

Below are the basic requirements to become a financial advisor

  • Find a company that you wish to join (you can join my team and receive free training)
  • At least 18 years old
  • College graduate 
  • Pass the financial advisor licensure exam

If you join my team, I will guide you every step of the way.

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Skills required to become a financial advisor

A financial advisor earns based on his productivity. Income can be virtually limitless and is only limited by the time and effort you put into the business. You can even earn quarterly bonuses & enjoy trip incentives with excellent performance. As you stay in the business, you can also take advantage of employee-like perks like an HMO, life insurance & retirement plan.

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How long does it take to become a financial advisor?

The amount it takes really depend on how much time you will give for the training and submission of the requirements. It usually takes a week or 2 for the training and 1 day for the exam and the rest are just dedicated to submission of requirements. You can finish all of this in as fast as 2 weeks.  

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How to become a financial advisor without a degree?

Not all companies will hire financial advisor without a degree but if you are a self starter and have execellent communication and sales skills, you are free to try,  The same process applies to those who want to become a financial advisor without a degree. 

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How to become a part-time financial advisor?

Part-timers are welcome in this career. Note that even part-timers need to get licensed to sell life insurance and investments in the Philippines.

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How much is financial advisor examination fee?

Here are the expenses that you need to prepare for when applying for a licensed financial advisor:

  • P1,745 for traditional life insurance license
  • P1,200 for traditional life insurance exam fee
  • P1,545 for variable life insurance license
  • P1,010 for variable life insurance exam fee