The job of personal financial advisor is a desirable one. Most financial advisors find they are able to earn a comfortable living without having to invest decades of their lives in preparation and training. In the United States, personal financial advisors earn median annual salaries of $90,640. In Australia, financial planners earn average before-tax weekly paychecks of $1,701 for possible annual earnings of about $88,452 AU.

If you want to seek employment as a financial planner, work your way through the following 5 steps to get qualified:

1. Start Your Education

In the United States, most employers seeking to hire personal financial advisors

prefer to interview candidates who have obtained a minimum academic credential of a bachelor's degree. If your goal is to become a personal financial advisor, it makes sense to pursue a college major in a field such as financial law, finance, accounting, business or economics and to take some coursework in each of these academic niches. Some financial advisors also earn MBA degrees or other advanced degrees.

About half of the financial planners in Australia have obtained university degrees, according to the Australian Department of Jobs and Small Business. However, some financial planners in Australia are able to find work after having earned a diploma of financial planning. This training is typically available in Australia's major cities. You can check the current catalog of TAFE courses Melbourne to find options for training.

2. Decide on a Path to Pursue

Financial advisors have numerous options for specializing. Some personal financial advisors are objective third parties who earn their income exclusively from the fees their clients pay them for their financial planning advice. Some personal financial advisors sell securities, insurance policies or other financial products. A significant portion of their pay typically comes from commissions or bonuses earned on successful sales of these products to their clients. Before you begin to look for work as a personal financial advisor, it's beneficial to give this some thought and decide how you want to approach your career. Multiple aspects of your career path and your work life will depend on which of these options you decide to pursue.

3. Seek Introductory Training or an Internship

In the United States, training and work experience are essential for finding work as a personal financial advisor; after all, nobody will want to trust you with their investments if you have zero experience. It's ideal if you can complete an internship with a financial firm at the same time you are earning your degree.

Even if you are able to complete an internship before graduation, do not be surprised if your first employer requires you to complete a supervised training program before they will allow you to work directly with their clients. This is typical.

In Australia, you will most likely need to satisfy an experience requirement before you will be allowed to obtain your Australian Financial Services (AFS) license. You can accomplish this by working as an authorized representative under the supervision of a current AFS license holder.

4. Obtain Any Necessary Licenses

In the United States, state licensure is required before you are legally able to sell some types of financial products. For example, you will need to get licensed if you want to sell insurance.

In Australia, the government closely monitors and regulates financial services. You will most likely need to obtain an AFS license to legally work as a financial planner. Some finance professionals might also need to obtain a credit license.

5. Comply With Securities Regulations

Both the USA and Australia have regulatory agencies that govern the laws about sales of securities. Financial advisors in the United States who sell securities are required by law to register with the Securities and Exchange Commission. The corresponding governing body in Australia is the Australian Securities and Investment Commission (ASIC).

The steps above give you an overview of how you become qualified to seek work as a personal financial advisor. Once you've worked your way through these 5 steps, you'll have fulfilled the most important requirements necessary to help clients with their finances.