How to be a licensed financial advisor

Financial Advisor Application

A financial advisor is a very rewarding job but it is also a job that requires lots of patience and hard work. Just like any other business, you need to dedicate time and money to run this kind of business. The income is small at first but if you continue to sell regularly, your income will start to grow. The income potential is endless! You can earn whatever amount you want but you need to put the right kind of effort to make it work.

Financial Advisor Application

Steps to become a licensed financial advisor

  1. Choose an insurance company that you believe in
  2. Contact a financial advisor from your selected insurance company
  3. Secure an agent’s training program from the company
  4. Take the licensing exam in Insurance Commission
  5. Submit the agent’s application requirements to the insurance company

Once you’ve passed the licensing exam and upon submitting the application requirements, you can now start your career as a financial advisor.

Choosing the company to join

The first step to become a financial advisor is to choose an insurance company that you believe in. You need to do your research so that you won’t join a company based only on your first impression. Find out what their products are and how their investment funds are performing. Find out how long they have been in the insurance business. You can also ask people you know who bought their products and ask them about their experience. By learning more and more about the company, you will be more confident in selling their products. In the Philippines, there are many reputable companies that you can join. AXA, Sunlife and PRU Life are among the top reputable insurance companies to name a few.

Contacting a financial advisor

There are two ways to apply as a financial advisor. The first way is by applying directly to the company. This process is applicable in all companies but this usually takes time because they will still need to connect you to an agent. The second way is to contact a financial advisor directly. In this way, he can guide you with the application process. He will provide you a list of requirements that you need to submit to the insurance company. Normally, the agent will also present to you the benefits of joining the company.

Agent’s Training Program

Each company have a different way on training their applicant. In AXA Philippines, the training is done via online. You will be watching videos that give you the basic information that you need to have in order to pass the licensing exam. At the end of each training module, there is a practice exam that you need to pass so that you can secure a printable examination permit. This printable permit is a requirement when taking the licensing exam in the Insurance Commission.

Taking an Insurance Licensing Exam in the Insurance Commission

The insurance licensing exam is a multiple-choice exam of about 50 to 60 items. Be sure to bring a photocopy of your valid government ID and the examination permit. The Insurance Commission also have a dress code in their office. Avoid wearing shorts, slippers, and sandals to prevent inconvenience. Proper semi-casual business attire is a must before you can take the exam. The examination result will be available right after you took the exam. Be sure to get a copy of the result because this will be one of the application requirements of insurance companies.

Application Requirements for Financial Advisor

After passing the licensing exam, the last step is to submit the requirements. Each company have different set of requirements but there are 5 requirements that are common to all and these are:

  1. Filled up application form (provided by the company)
  2. Photocopy of unexpired valid government ID
  3. Exam Result with a Passing Grade
  4. Professional Tax Receipt (secure from your City Hall)
  5. TIN

Once you’ve completed the requirements, you will be given an agent code and you now be a licensed financial advisor.

About David Bernabe 4 Articles
David is a licensed financial advisor and a professional digital marketer. While most digital marketer thinks out of the box, David sees no box. He believes that successful people have the craziest ideas and dreams big enough that only they can see. David also loves teaching. During his free time, he attends to younger generation teaching financial literacy.

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