Article

What does a Financial Counselor do?

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

Photo of Brenna Goyette
Brenna Goyette
Certified Professional Resume Writer, Career Expert

Published 3 min read

A financial counselor is a professional who helps people manage their money. Financial counselors work with people to create budgets, save money, and make wise financial decisions. They may also provide counseling services to help people deal with debt, credit, and other financial issues.

Financial Counselor job duties include:

  • Meeting with clients to discuss their financial goals
  • Assessing a client's current financial situation
  • Developing a financial plan tailored to the client's individual needs
  • Recommending specific investments or financial strategies
  • Helping clients implement their financial plan
  • Monitoring the progress of the client's investments and making adjustments as needed
  • Providing ongoing support and guidance to clients
  • Keeping abreast of changes in the financial industry and keeping clients informed
  • Identifying opportunities for additional products or services that may benefit the client
  • Referring clients to other professionals as needed

Financial Counselor Job Requirements

There are no formal education requirements for financial counselors, although most have at least a bachelor's degree. Financial counselors typically have experience working in the financial industry, although some may have experience in other fields such as counseling or social work. Financial counselors must be certified by the National Association of Certified Financial Counselors (NACFC).

Financial Counselor Skills

  • Money management
  • Financial goal setting
  • Debt reduction
  • Savings plans
  • Credit repair
  • Retirement planning
  • Tax preparation
  • Investment strategies
  • Insurance planning
  • Estate planning
  • Small business accounting

Related: Top Financial Counselor Skills: Definition and Examples

How to become a Financial Counselor

A financial counselor is a professional who helps people manage their money. Financial counselors work with people to create budgets, save money, and make wise financial decisions. They may also provide guidance on investment opportunities and retirement planning.

Becoming a financial counselor requires completing a bachelor’s degree in finance or a related field. Many financial counselors also have certification from professional organizations such as the National Association of Personal Financial Advisors or the Certified Financial Planner Board of Standards. In addition to formal education, financial counselors should have strong people skills and be able to help clients manage their emotions around money.

If you are interested in becoming a financial counselor, start by researching educational programs and professional certification options. Once you have completed your education, consider working for a financial planning firm or bank to gain experience. You may also want to start your own financial counseling practice after gaining some experience.

Related: Financial Counselor Resume Example

Related: Financial Counselor Interview Questions (With Example Answers)