The Role of a Licensed Financial Consultant

Barry L. Bulakites

June 28, 2022



Barry Bulakites asserts that, what is the role of a licensed financial consultant? What educational requirements do you need to become a licensed financial consultant? What is a financial consultant’s fiduciary duty? And what are the compensation options? The answer is an impressive mix. Read on to learn more. We’ve listed the benefits of becoming a licensed financial consultant in this article. And don’t forget to check out our Career Guide! It will give you a head start in your search for a career in financial planning.

Job description

A comprehensive job description for a financial consultant should highlight the essential responsibilities and tasks of the position. The responsibilities section should be the meatiest part of the job description. Instead of stating the mundane and routine tasks of the position. For instance, use strong action verbs that. Similarly, describe the person’s overall performance. The purpose of a job description is to attract qualified candidates who have the potential to become licensed financial consultants. Using bullet points can make the job description easier to read.

A financial consultant works as a dedicated representative of a financial institution or firm. They analyze the market to determine the appropriate products and services for clients. These professionals are trained in various economic tools and stock market operations. Common employers include banks, insurance companies, mortgage lenders, and brokerage firms. Subsequently, licensed financial consultant can also move into managerial roles.

Education required by Barry Bulakites

A Series 7 license is necessary for financial advisors who want to sell investment products to clients. The license allows them to sell nearly any type of investment product, including bonds, stocks, options, futures, and packaged securities. To become a financial advisor, you must pass an exam that covers many of the key functions of the profession, including business development, regulations, and risk management. In conclusion, there are a few additional exam. Certainly that, you will need to take. But in other words most of them can only be taken after you have already been associated with a firm.

In addition, a CFP’s job description involves evaluating alternative. In other words, solutions for different types of clients. Such as retirement plans and investments. They design and implement financial solutions that are appropriate for clients’ unique situations and needs. To become a CFP, you must complete an approved training program and pass the FINRA exam series. To become a CFP, you must also complete. Above all, it will continuing education requirements. For instance, to maintain your designation. Listed below are some of the credentials required to become a CFP.

Fiduciary duty by Barry Bulakites

In Canada, a licensed financial consultant has a fiduciary duty to their clients. This duty differs from the suitability rule; fiduciaries are bound by law to act in the client’s best interests. A fiduciary can be an investment adviser, investment manager, or financial planner, depending on their legal status and client vulnerability. If you have questions about a financial advisor’s fiduciary duty, ask them.

The fiduciary duty of a licensed financial planner or consultant involves avoiding any personal pursuits that may conflict with their client’s best interests. As a result, this means that financial advisors cannot take advantage of the client’s money.  Most importantly interests or even reward themselves for doing so. The fiduciary duty protects investors from any financial professional who fails to act in their best interest. On the other hand, a fiduciary must also provide full disclosure. This means making clients aware of the risks and options that may be relevant to their financial goals.


If you are interested in a career in financial consulting, you may be wondering how much you will earn as a licensed consultant. The answer depends on your location and the services you offer. According to Barry Bulakites, consultants in Chicago earn 15% to 18% . More than those in Denver. consequently the outlook for this field is bright. The Bureau of Labor Statistics (BLS) predicts an increase in jobs for financial consultants of 7% over the next decade. During that time, there project to around 19,100 new jobs. If you have an interest in becoming a licensed financial consultant, you can prepare yourself for the role by earning a master’s degree in finance online.