How to become a financial advisor
Official title: Financial advisors
Also called: Wealth advisor, Banking advisor, Financial advisor, Financial planner, Financial consultant, Personal finance advisor, Financial security advisor, Financial services advisor, Personal financial planner, Associate financial advisor, Certified financial planner, Personal investment advisor
Financial advisors counsel individuals on financial decisions such as investments, cash management, and estate planning. They establish personal financial plans according to clients' objectives and guide them through the implementation of the proposed strategies that may be adjusted as the situation evolve. They are employed by banks, trust companies and investment firms, or they may be self-employed.
Main tasks
- Develop personal financial plans for clients covering cash management, finances, insurance coverage, investments, retirement and estate planning, taxes and legal matters
- Analyze clients' financial records, set goals and develop a financial strategy
- Advise clients on implementing the financial plan to help them achieve their goals
- May also arrange for the purchase and sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability
- May help to expand business and attract new clients
How to become one
A bachelor's degree in business administration, commerce, economics or a related field is usually required. The designation Certified Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required. To sell regulated financial products and investments, such as annuities, RRSPs and life insurance, a licence is required from the appropriate governing body. Certification as a Financial Planner is required in Quebec. Various training programs and courses are offered by financial institutes and organizations, such as the Canadian Securities Institute, Institute of Canadian Bankers, CFA Institute, Investment Funds Institute, Canadian Institute of Financial Planning, and Trust Companies Institute of Canada, and may be required by employers.
Ways in
- University: Business & Commerce degrees, Offered by 17 universities in Canada
- Licence or registration: To sell regulated financial products and investments, such as annuities, RRSPs and life insurance, a licence is required from the appropriate governing body.
Pay · Outlook
- Median pay: $70,317 a year The middle half earn $56,550 to $95,550.
- About 118,800 people worked in this job in 2023, and about 136,400 are projected by 2033. (+14.8%)
- Projected labour market to 2033: balance.
Related jobs
- Financial auditors and accountants
- Financial and investment analysts
- Securities agents, investment dealers and brokers
- Other financial officers
Not sure this is for you? Take the 2-minute career quiz
Questions people ask
How do I become a financial advisor?
A bachelor's degree in business administration, commerce, economics or a related field is usually required. The designation Certified Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required. To sell regulated financial products and investments, such as annuities, RRSPs and life insurance, a licence is required from the appropriate governing body. Certification as a Financial Planner is required in Quebec. Various training programs and courses are offered by financial institutes and organizations, such as the Canadian Securities Institute, Institute of Canadian Bankers, CFA Institute, Investment Funds Institute, Canadian Institute of Financial Planning, and Trust Companies Institute of Canada, and may be required by employers.
How much does a financial advisor earn in Canada?
Median full-time pay is $70,317 a year (Employment and Social Development Canada (Job Bank)). The middle half earn $56,550 to $95,550.
Is a financial advisor a growing career in Canada?
Yes. Employment is projected to grow 15% by 2033, from about 118,800 to about 136,400 people (Employment and Social Development Canada).
Do you need a degree to become a financial advisor?
Not always. 59% of people in this job hold a bachelor's degree or higher. Ways in include: Business & Commerce degrees.
Sources
- Statistics Canada: Census 2021: employment by occupation, gender and education (98-10-0449) (2021 Census), Statistics Canada Open Licence, retrieved 2026-10-03
- Statistics Canada: National Occupational Classification (NOC) 2021 (Version 1.0), Open Government Licence - Canada, retrieved 2026-10-03
- Employment and Social Development Canada: Canadian Occupational Projection System (COPS) (2024 to 2033), Open Government Licence - Canada, retrieved 2026-10-03
- Employment and Social Development Canada (Job Bank): Wages by occupation (2025 (revised 2025-11-19)), Open Government Licence - Canada, retrieved 2026-10-03
Updated 2026-10-03