Overview
Financial advisors counsel individuals on financial decisions such as investments, cash management, and estate planning. They establish personal financial plans according to clients' objectives and guide them through the implementation of the proposed strategies that may be adjusted as the situation evolve. They are employed by banks, trust companies and investment firms, or they may be self-employed.
This group performs some or all of the following duties:
Develop personal financial plans for clients covering cash management, finances, insurance coverage, investments, retirement and estate planning, taxes and legal matters
Analyze clients' financial records, set goals and develop a financial strategy
Advise clients on implementing the financial plan to help them achieve their goals
May also arrange for the purchase and sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability
May help to expand business and attract new clients.
Employment prospects
Annual salary
$48,136
$74,873
$151,519
Job openings
Use this interactive map to explore job openings in different regions across B.C.
British Columbia
2,691expected job openings (5-year forecast)
Education and training
Employment requirements
A bachelor's degree in business administration, commerce, economics or a related field is usually required.
The designation Certified Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required.
To sell regulated financial products and investments, such as annuities, RRSPs and life insurance, a license is required from the appropriate governing body.
Additional information
While these kinds of positions require a high degree of training and qualifications, persons who occupy them must continually update their skills and pursue professional development.
Progression to financial management positions is possible with experience.
Certification requirements
Mandatory: You need the following certifications to practice as Financial advisors in B.C.
- Training through the Canadian Securities Institute (CSI) - Financial Advisors
- Insurance Council of British Columbia - Financial Advisors
Optional: The following certifications are optional to practice as Financial advisors in B.C.
- Certified Financial Planner® (CFP®) Certification - Financial Advisors
- Chartered Financial Analyst® (CFA®) - Financial Advisors
- Membership with the Investment Funds Institute of Canada - Financial Advisors
- Membership with the Canadian Institute of Financial Planning - Financial Advisors
Training through the Canadian Securities Institute (CSI) - Financial Advisors
Confirm with the certifying body that your intended program qualifies you for this certification.
To sell regulated financial products in Canada, you must be licensed through the Canadian Securities Institute. Once educational, ethical and work experience licensing requirements have been met, the application for registration is handled by either your employer or, if you are working independently, by a sponsoring financial services firm.
Insurance Council of British Columbia - Financial Advisors
Confirm with the certifying body that your intended program qualifies you for this certification.
To work as an insurance agent, salesperson, or adjuster in B.C., you must be licensed by the Insurance Council of B.C. Eligibility is achieved by meeting education and licensing requirements.
Certified Financial Planner® (CFP®) Certification - Financial Advisors
Confirm with the certifying body that your intended program qualifies you for this certification.
To work as a financial planner in B.C., you may choose to earn the Certified Financial Planner® certification through FP Canada. To obtain the CFP designation, candidates must complete a rigorous education program, pass a national exam, have a post-secondary degree and demonstrate three years of qualifying work experience.
Chartered Financial Analyst® (CFA®) - Financial Advisors
To work as a financial analyst in B.C., you may choose to earn a Chartered Financial Analyst (CFA®) designation. You can earn the designation by completing the CFA® Program and acceptable work experience requirements.
Membership with the Investment Funds Institute of Canada - Financial Advisors
To work in the investment industry in B.C., you may choose to become a member of the Investment Funds Institute of Canada. Eligibility is achieved through employment at an eligible firm.
Membership with the Canadian Institute of Financial Planning - Financial Advisors
To work as a financial planner in B.C., you may choose to become a member of the Canadian Institute of Financial Planning. Eligibility is achieved by following the steps on the Canadian Institute of Financial Planning website.
Post-secondary programs in B.C.
Explore programs related to this career offered at post-secondary institutions in B.C.