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How to Become a Financial Adviser/Planner - Career Salaries, Job Stats & Education

How to Become a Financial Adviser/Planner - Career Salaries, Job Stats & Education

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/ How to Become a Financial Adviser/Planner - Career Salaries, Job Stats & Education

Thinking of a Financial Adviser Career?

Give your career and motivation a boost by embarking on the road to success as a Financial Adviser – no matter if it’s as a Financial Planner, Financial Consultant, Investment Planner or Adviser – whatever you label it, we’re here to give you the tools to take care of business. 

Exciting competition in the business world means that the market is broadly positive for people in Finance, with salaries rising as organisations compete for the best performers to help strengthen their businesses. If you have the relevant qualifications, becoming a CFP (Certified Financial Planner) can be a solid and profitable career move.

Job Prospects for a Financial Planner

                   financial adviser outlook

The graph shows historical and projected (to 2020) employment levels (thousands) for Financial Advisers.

Employment for CFPs has risen very strongly (in percentage terms) in the past five years, and the long-term (ten year) view is also very positive. In the future, employment for Financial Advisers to November 2020 is expected to grow very strongly.

Source: *Job Outlook Government website. Source: ABS Labour Force Survey, Department of Employment trend data to November 2015 and Department of Employment projections to 2020. Estimates have been rounded.

Financial Adviser Salary     


This graph shows median weekly earnings for the occupation compared with the median across all occupations, for total employment and for full-time workers. The research shows that Financial Advisers earn well comparative to the average income. A full-time worker in Finance can earn about $1753 per week or $91,156 per year. A Finicial Adviser salary review might vary state to state. 

Note: Earnings are before tax and do not include employer superannuation contributions. These figures are indicative and cannot be used to determine a particular wage rate. Source: *Job Outlook Government website. ABS Characteristics of Employment Survey August 2014 cat. no. 6333.0. lists the average annual wage for a Financial Advisor as being between around $71 000 to a maximum of above approximately $100 000.

Weekly Work Hours for Financial Advisers    

                      financial adviser hours                     

The graph shows the average weekly hours (by gender and full-time and part-time) worked for this occupation, compared with all occupations. Finance professionals do work slightly more hours per week than the national average for all occupations (42.8) however, CFPs also gain higher rates of compensation.

Source: *Job Outlook Government website. Source: ABS Labour Force Survey, annual average.

How old is the average Financial Adviser?

                               financial adviser age chart

The Finance industry has a strong appeal across many age groups, which makes it both a dynamic and knowledge filled work environment. An increasing amount of young people are being drawn to a career as a financial consultant or CFP. The majority or workers in this profession are aged between 25 and 54. 6.7% of workers are aged over 65, making this a well reprsented job for older workers. 

Education Levels for Finance Professionals

                      financial adviser education levels chart

This graph shows the highest educational attainment (per cent share of employment) for this occupation compared with all occupations. CFPs tend to value education in their profession, with 38.3 per cent having a Post Graduate/Graduate Diploma or Graduate Certificate. 11.4% of the workers in this profession have a Year 12 qualification as their highest. 

Source: *Job Outlook Government website. ABS 2015 Survey of Education and Work (SEW). Estimates have been rounded and consequently, some discrepancies may occur between sums of the component items and totals.

Finance Skills Trends: A World of Opportunity for a CFP

Australia is experiencing a surge in demand for financial advice according to the Investment Trends Advice & Limited Advice Report. As Australians pay more attention to their finances, the number of active financial clients is on the rise, reaching 2.5 million in 2014.

In the future, the demand for financial consultants is set to grow strongly, according to the report, with 1.9 million Australian adults saying they intend to seek out a (new) Financial Planner within the next 2 years. 

Financial Planner Courses: Becoming a Financial Adviser 

Certificate IV in Business Administration (with finance electives)

This course provides a comprehensive qualification for those seeking to gain basic knowledge of finance for their business career, or those looking to build on current skills in the financial sector. By combining the finance component with business administration, you’ll have skills and insider knowledge that will keep your job in-demand and interesting. This is simply a great all-round qualification and a real way to get ahead.

Certificate IV in Accounting and Bookkeeping

This entry-level course is designed to give you accurate knowledge of the core elements of bookkeeping and a good working knowledge of general financial concepts and bookkeeping practice. It could also offer you a direct pathway to further studies in the financial services field. The course includes the requirements as set out by the Tax Practitioners Board (TPB) for registering as a Business Activity Statements (BAS) agent.

Why Study Finance through Open Colleges?

Open Colleges' Finance courses aim to give students fundamental knowledge of financial and economic systems. This forms the underpinnings of a financial professionalism that you can bring to bear on a local or global scale. You can see a snapshot of your potential career path in Finance in this infographic.

The choice of certificates and short courses allow students to gain detailed understanding of financial markets by examining mathematical financial modelling and macro and micro economic effects. Open Colleges offers popular and accredited courses with top-level course materials and quality trainers. 

For example, if you’re a keen number cruncher, then take a look at our Periodic Table of Accounting Elements – we created it so you can easily spot and identify the most valuable components of the accounting system.

If you want to get ahead in the Finance industry, you need the opportunity to learn from its best minds. With this in our sights, Open Colleges has partnered with reputable and established industry experts to design all our courses. You can read some of their advice right here.

So, whether you’re just starting out in the finance sector or already established, Open Colleges has the Finance course to help you to secure that dream position. Check out these 20 pieces of advice for Accounting graduates. These courses are totally flexible; you structure your learning around other commitments and work through the units and assignments at your own pace. On top of this, you can start at any time of year and arrange payments in a way that suits you.

5 Minutes with a Finance Professional

Wally David, Certified Financial Planner

Wally David

Certified Financial Planner® @Financial Planning Matters, and blogger at The Smart Money

In two sentences, tell us a bit about your role? 

I advise clients and manage a financial planning practice on the Mornington Peninsula in Victoria. I’m also author of a personal finance blog ( which publishes information on all things pertaining to money.

What does a Financial Planner do on a day-to-day basis?

A typical day is made up of meeting with clients, to discuss their future plans and establish how you may be able to assist, or to review clients’ plans that you have already put in place to see if they’re on track. In between meetings, you prepare by working on the relevant analysis and research to formulate the appropriate strategy.

What are the best parts of the job for a CFP?

You can’t be a Financial Planner if you don’t enjoy dealing with people. It’s an essential skill and an aspect that I certainly enjoy. It is also an area that is forever changing, whether that is due to government regulation, investment markets or people’s individual circumstances. So it keeps you on your toes from a professional learning angle.

What skills/attributes do you need to have?

Communication skills – both written and verbal. You will inevitably produce vast amounts of written documentation throughout your career which needs to be presented in a professional manner.

Face-to-face confidence - You also need to communicate well on a face-to-face basis with clients. This is one job where you will need to be confident in front of various stakeholders. 

Attention to detail – much personal information is collected from clients and you need to ensure that this is recorded accurately, as it forms the basis of your recommendations. You also need to ensure that anything you provide to a client is accurate and without error.

What are your favourite things about working in Finance?

Money and finance have been a passion of mine since I opened my first “Dollarmite” account as a kid. I love working with numbers and more importantly, I enjoy educating people on the topic of money throughout their journey in life.

Thanks, Wally, for sharing your story with Open Colleges.

Ready to begin a career in Finance? 

Whether you’re after a change in your career direction, you want to run your small business better, or you’re aiming at a stronger grounding in Finance, Open Colleges has several course options that give you the chance to invest in your future!

There’s no time like the present for building your skills, whether your aim is to better balance the books, keep clients happy and in the black, or take the Finance world by storm. Fill in your details below to receive a course guide and a consultation with an Enrolment Consultant.


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