Are you an EPFL student looking for a semester project?
Work with us on data science and visualisation projects, and deploy your project as an app on top of Graph Search.
Concept
Financial adviser
Summary
A financial adviser or financial advisor is a professional who provides financial services to clients based on their financial situation. In many countries, financial advisors must complete specific training and be registered with a regulatory body in order to provide advice.
In the United States, a financial adviser carries a Series 7 and Series 66 or Series 65 qualification examination. According to the U.S. Financial Industry Regulatory Authority (FINRA), qualification designations and compliance issues must be reported for public view. Details of formal compliance issues can be found on the Investment Adviser Public Disclosure (IAPD) website and details of non-formal issues can be found on Onesta. FINRA specifies the following groups who may use the term financial advisor: brokers, investment advisers, private bankers, accountants, lawyers, insurance agents and financial planners. Financial advisors need to be able to take the full picture of the client's financial situation into account.
Financial advisers typically provide financial products and services, depending on the qualification examinations they hold and the training they have. Financial advisers are registered, not licensed. For example, a licensed insurance agent may be qualified to sell both life insurance and variable annuities, because the insurance agent holds an insurance license and holds the Series 7 qualification examination. A broker (Series 7) may also be a financial planner. Any advisor can say they are a financial planner; they do not have to hold the CFP (Certified Financial Planner) designation to do so. A financial adviser may create financial plans for clients or sell financial products, or a combination of both. They may also provide insight on savings.
A financial adviser is generally compensated through fees, commissions, or a combination of both. For example, a financial adviser may be compensated in one or more of the following ways:
An hourly fee for advisory services
A flat fee, such as 5,000 for a financial plan.
Official source
About this result
This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.