Financial Consultant Career Profile

In today's world, most professionals or businessmen depend on their financial consultant or adviser for all matters concerning the financial plans for managing the money in their business. Being a financial consultant involves working with a lot of financial products and advising clients of which of them serve their best interest. This could involve tax and audit matters, investment advise, raising of funds for expansion and generally finding solutions for their customers on all matters concerning money.

What are the Qualifications Needed?

A Certificate in Financial Planning is a must for making a start as a financial consultant. Once this basic qualification is obtained, a financial consultant can go for further specialization depending on the sector of the business world he is intending to specialize in. These can vary from investment management, pensions, insurance, mortgages, or many other fields that seem to have a constant demand from interested customers.

Basic Role of a Financial Consultant

As a financial consultant you would be called upon to provide advice to the companies or individual clients for producing financial statements and analyzing them to help them make sense to the laymen clients. The financial consultant may even be asked for advice on sales targets and the financial implications of the same. They would also have to analyze the financial dealings of the company or clients and ensure that they are within the realms of law, while as the same time in the client's best interests. Occasionally a client may default in financial matters and it is up to the financial consultant to advise on how to mitigate the errors made and ensure a system that prevents recurrence. A financial consultant could also advice clients on audit and other matters concerning the IRS.

Setting up Shop as a Financial Consultant

You can opt to practice independently or tie up with an established company. Both have their advantages and disadvantages.
If you opt to start on your own, you would have to make an effort to sell your services. This may not be easy when you are first starting out, as credibility could be a problem. The advantage of starting on your own is that you would be your own boss and can set your own rules and working methods.

Tying up with an existing company allows you to tap in to the resources and client base of the company without having to go around looking for clients. The disadvantage of working for a company is that you would not have the freedom to advise your clients and may have to confirm to the guidance given by the company.

It is always the best to work for a company for some time, as this would allow you to easily get into the business and find your own bearings before you decide to branch out on your own.


Financial Consultants are very widely respected and can command a good salary if you join a company. As an independent consultant it will be up to you to charge the clients what they are willing to pay, and general standards in the industry are quite lucrative. Expanding on this and taking your earnings to the levels that you want would depend on your own capacity for hard work and the expertise that you are able to show.