Become a Financial Adviser

Career Guide

Job Stability

How to become a financial adviser

Welcome to the world of financial advising, a rewarding and dynamic career that allows you to make a meaningful impact on people’s lives while building your own financial success. As a financial adviser, you’ll play a crucial role in helping individuals and businesses achieve their financial goals, manage their investments, and secure their financial futures.

In this guide, we aim to provide you with a clear introduction to the path of becoming a financial adviser. Whether you’re a recent graduate exploring career options or someone looking to make a career change, your ability to build trust with clients will be the key to your success and we hope this overview will help you understand the essential skills and certification needed to embark on this exciting and rewarding career.

So, let’s get started on your journey to becoming a financial adviser!

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Benefits of becoming a Financial Adviser

Becoming a financial adviser can offer several benefits, both personally and professionally. Here are some of the advantages:

  • Job Stability

    Financial Reward

    Financial advisers often earn a competitive income, which can increase significantly with experience, making it a potentially lucrative career.

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    Job Stability

    The demand for financial advisers tends to remain stable even during economic downturns. People continue to seek advice on managing their finances, investments and retirement planning regardless of economic conditions.

  • Flexibility


    Many financial advisers have the flexibility to set their own schedules and work arrangements, which can be appealing for those seeking a favourable work-life balance.

  • Entrepreneurial Potential

    Entrepreneurial Opportunities

    Some financial advisers choose to start their own practices, giving them a chance to build and manage their business.

  • Client Interaction

    Client Relationships

    Advisers often develop long-term relationships with their clients. These connections can be personally fulfilling and lead to referrals and repeat business.

Wealth Management Market

By working as a financial adviser, you become part of an industry that plays a crucial role in the financial system, providing stability and longevity to your career.

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The wealth management and Independent Financial Advisor (IFA) industry in the UK boasts an annual revenue of approximately £6.3 billion.

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There are currently over 5,000 financial advice businesses in the UK employing over 35,000 people.

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The average age of a financial adviser in the UK is currently 57. As these experienced individuals begin to retire, there is an increasing demand for a new generation of qualified professionals in the field.

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Numerous consumers continue to keep funds in cash, which could potentially be invested to yield higher returns.

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The primary motivation prompting consumers to seek financial advice is retirement planning.

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The UK financial advice market has experienced a consistent increase in demand for advisory services.

Did You Know?

Did you know that financial advisers in the UK are regulated by the Financial Conduct Authority (FCA)? The FCA sets standards for financial advisers’ qualifications and the service they offer.

A day in the life of a Financial Adviser.

Qualifications Explained

It all starts with DipFA!

If you want to work as a financial adviser in the UK, you must hold a suitable qualification recognised by the Financial Conduct Authority (FCA).

The Diploma for Financial Advisers (DipFA) is FCA approved and the perfect first step along your new career path. It will equip you with the skills and knowledge required to begin advising clients on retail investment.

Simply Academy’s DipFA courses are delivered by our team of highly experienced trainers who specialise in financial services. You’ll learn online in small groups through our successful live webinars, which give you the opportunity to interact with your tutor and fellow students.

Considering a career change?

Freedom - Becoming a financial adviser grants you the ability to set your own work schedule.
Rewarding - Witnessing a client achieve success is truly gratifying.
Unlimited income - The income potential of financial advisers is limitless, driven by their capacity to take on more clients.

Upon achieving the DipFA certification through Simply Academy and obtaining the status of a certified financial adviser, you have the option to continue your learning by undertaking the following.

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Adviser Skills

Succeeding as a financial adviser goes beyond mere qualifications; a diverse set of interpersonal skills is crucial. This CPD-accredited program is tailored for recently certified advisers and is equally beneficial for experienced professionals seeking ongoing development to uphold high standards in their profession.

Find out more
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Level 3 Certificate in Mortgage Advice & Practice (CeMAP®)

Obtaining the CeMAP qualification after becoming a financial adviser can expand your knowledge base, improve your marketability, increase your earnings potential, and allow you to offer more comprehensive advice to your clients. It’s a strategic move than can benefit your career and the clients you serve.

Find out more

Why study with Simply Academy?

What makes Simply Academy the ideal place to pursue your financial adviser education, especially if you’ve already determined that this career path is right for you?

Important Notice:

With the growing prominence of DipFA, there has been an influx of unregulated training providers in the industry currently promoting subpar courses via platforms such as Google and Groupon. These courses potentially lack current information and essential content and the individuals hosting them may not have the requisite expertise or industry experience to deliver DipFA training.

If you wish to discover the key factors to weigh when choosing a DipFA training provider, we encourage you to contact our friendly student support team.

Frequently asked questions

How do I become a financial adviser?

Becoming a financial adviser in the UK typically involves a structured process. Firstly, an individual must attain a necessary qualification, such as the Level 4 Diploma for Financial Advisers, which can be obtained through Simply Academy’s accredited courses and examinations. Next, they must seek employment with a financial services firm authorised and regulated by the Financial Conduct Authority (FCA) in either an employed or self-employed capacity.

Can career changers become financial advisers?

Certainly, individuals from various backgrounds have the opportunity to transition their skills into financial advisory roles. While a background in finance can be advantageous, it is not a strict requirement. Many financial advisory firms value diverse perspectives and skills that career changers can bring to the profession.

Are financial advisers in demand in the UK?

Yes, there is a continued demand for financial advisers in the UK. As individuals and business seek to navigate complex financial landscapes, plan for retirement, invest wisely, and address tax and estate planning, the expertise of financial advisers remains highly valuable. Economic uncertainties and changing regulations also contribute to this demand.

What skills and qualities are essential for a financial adviser?

Successful financial advisers possess a diverse set of skills and qualities, including:

  • Excellent Communication: Effective communication is crucial for building trust and explaining complex financial concepts to clients.
  • Ethical Conduct: Maintaining high ethical standards and acting in the best interest of clients is a fundamental requirement.
  • Empathy: Understanding and empathising with clients’ financial concerns and goals is key to providing personalised advice.
  • Adaptability: The financial industry evolves, so advisers must stay updated on industry trends and adapt to changing client needs.
  • Sales and Marketing Skills: Attracting and retaining clients often requires effective sales and marketing techniques.
  • Time Management: Balancing multiple clients and tasks while meeting deadlines is essential.

How do financial advisers earn income?

Financial advisers earn income through various methods, including:

  • Commissions: Some advisers receive commissions for selling financial products.
  • Fees: Advisers may charge fees for their services, either hourly, flat fees, or as a percentage of the assets they manage.
  • Salaries: Some financial advisers, particularly those working in larger financial institutions, earn a fixed salary.
  • Combination: Many advisers use a combination of these methods, receiving commissions on certain products and charging fees for financial planning or portfolio management services.
  • Performance-Based Fees: In some cases, advisers may charge a performance fee based on the return on investment they generate for clients.
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Simply Academy awarded the Highest Rated Courses Brilliance Award 2019 from CourseCheck
Simply Academy is FSQS (Financial Services Qualification System) registered

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