What does a Financial Advisor Trainee do?

Learn all about Financial Advisor Trainee duties, skills and much more. Get expert advice on how to become a Financial Advisor Trainee.

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Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 4 min read

A financial advisor trainee provides support to a financial advisor by researching and analyzing information related to investments, insurance, and other financial planning products. The trainee also assists with client service tasks, such as scheduling appointments and preparing reports.

Financial Advisor Trainee job duties include:

  • Attending training sessions to learn about financial products and services
  • Studying for and passing exams to obtain licenses to sell financial products
  • Meeting with clients to assess their financial needs and goals
  • Developing financial plans for clients based on their goals
  • Recommending investment products and strategies to clients
  • Monitoring clients' portfolios and making recommendations for changes
  • Reviewing client accounts and updating plans as needed
  • Providing ongoing support and advice to clients
  • Keeping up with changes in the financial industry

Financial Advisor Trainee Job Requirements

A financial advisor trainee is someone who is in the process of becoming a financial advisor. To become a financial advisor, one must have a bachelor's degree in finance, economics, or a related field. In addition, one must pass the Series 7 and Series 66 exams, which are administered by the Financial Industry Regulatory Authority (FINRA). One must also have at least three years of experience working in the financial industry.

Financial Advisor Trainee Skills

  • Analytical skills
  • Profit and loss analysis
  • Financial analysis
  • Budgeting
  • Forecasting
  • Finance
  • Accounting
  • Asset management
  • Financial modeling
  • Investment analysis
  • Portfolio management
  • Risk management

Related: Top Financial Advisor Trainee Skills: Definition and Examples

How to become a Financial Advisor Trainee

A financial advisor trainee is someone who is new to the financial advising industry and is working under the supervision of a more experienced financial advisor. There are many ways to become a financial advisor trainee, but the most common path is to first obtain a bachelor’s degree in business, finance, or a related field. After completing an undergraduate degree, many financial advisor trainees go on to complete a master’s degree in business administration (MBA) with a concentration in finance.

Once you have completed your education, the next step is to find a financial advising firm that is willing to hire and train you. Many firms require that you take and pass a series of exams, such as the Series 7 and Series 66 exams, before they will offer you a position. Once you have passed these exams and have been hired by a firm, you will typically be paired with an experienced financial advisor who will act as your mentor. As a financial advisor trainee, you will be responsible for assisting your mentor with client meetings, preparing presentations, and performing research.

If you are interested in becoming a financial advisor trainee, it is important to start planning your career path early. Begin by taking courses in business and finance in high school and college so that you can develop the skills that are necessary for success in this field. In addition, try to gain experience working with clients or in customer service so that you can learn how to effectively communicate with people. Finally, make sure to network with professionals in the financial advising industry so that you can learn about different firms and find mentors who can help guide you along your career journey.

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