What Does It Take To Become a Financial Advisor | Common Sense Investing with Ben Felix



Have you ever wondered what qualifies someone to use the title Financial Advisor? Watch my video to find out.
——————
Visit PWL Capital:
PWL Capital Blog Post:
Follow PWL Capital on:
– Twitter:
– Facebook:
– LinkedIN:

Follow Ben Felix on
– Twitter:
– LinkedIn:
——————

Video channel management, content strategy & production by Truly Inc.
– Website:
– Twitter:

31 comments

  1. I wish I had watched this before I hired financial advisors who charge 1.25% of managed assets (assessed quarterly), put me in .5-1% funds, an also sold me whole-life insurance. I did zero research before agreeing. At least I'm better off than I wouild've been in a savings account, and I now know better.

  2. I am very confused you say it takes nothing to become a financial planner but then you contradict yourself saying it does take a bunch of licences so which one is It

  3. I came to Canada as an immigrant two years ago and a lot of these insurance agents came flocking to our home since we arrived. I was sold into these expensive insurances i barely understood but I have managed to pull out myself a year after. Going forward I have continuously educated myself with Canadian Investments since I started listening to Canadian Investment Youtubers and got to know more about it while learning with Brandon Beavis and Ben Felix. I just recently started my Investment portfolio and I manage them myself through due diligence.

    Now that I am trying to work my way through Canadian Finances I have decided to thrive for my CIM designation as I start with CSI's CS Course. I am however scared about this process as I have no financial related job history in Canada and have no idea where or what to do next after I am through CSC. I definitely want to learn though which is why I am starting from scratch.

  4. Do you need to be a Canadian citizen to get these licenses, or do you just have to perform your business activities in Canada?

  5. Can you do a video on Dollar Cost Averaging? πŸ’° and on increasing your investment in down periods of the market. Would definitely be a cool videoπŸ€žπŸ€žπŸ‘πŸ‘

  6. How does your training in Mechanical Engineering hejp you as a Finance guy. This is NOT a sarcastic question. I understand that Engineering does require an intense respect for detail.

  7. Honestly, this video is very broad and isn't really a key to understanding who you're taking advice from. Passing several "exams" doesn't let the consumer or the retail investor know that you have in terms of education and the right exams.

  8. It's true that people should be getting advise from appropriately licensed individuals, but it is incorrect that licensed insurance agents are not held responsible for their actions. Insurance agents can actually lose their license and get sued if they act unethically (e.g. acting as though, or even suggest that they do, hold a license that they don't). You should be careful when you make statements like this especially when you have the following that you do. There is a code of conduct that insurance agents are held to and you can see this in various news articles about agents losing their licensing for not acting ethically. Having said that, consumers do need to educate themselves in case agents (all levels of agents) do not abide by the code. So, do your homework and ask the agent what their qualifications are. Agents should have their licenses visible in their offices. So, if they're hesitant to show you upon request, mark that as a red flag and find another agent. Here's the code for anyone who wants to know more: https://www.insurancecouncilofbc.com/Website/media/Shared/PDFs/Code-of-Conduct-13Sep2016.pdf

  9. Thank you for this video. I have had my insurance agents license for 10 years (I'm 45). I plan to retire in 5 years years and was looking into doing that full time. I'm currently not because I don't want to be in the business of screwing people. I do Insurance on the side, and only by referral, then only what people really need. On a personal level I have been been an investor for years. I have been helping friends and relatives for over 20yrs with things like opening a Roth, investing in REITS, etc. I would like to take the Series 65, but I don't want to just cram a study guid, pass, and call myself an advisor. I have 5 years until I retire so can you please recommend any classes/courses I should take, or books I should read? Thank you for any help. I would hate to give someone the wrong advice that could ruin their life just because I passed a test.

    Thank you.

  10. Thanks for the video. Very helpful. How do i determine who would be a good Portfolio Manager or CFP? Is it possible to see their body work? I am looking to move most of retirement fund to something better then what the big banks have to offer.

  11. Hello im very interested in become a financial advisor im active crypto and stock trader but with the years everytime people keep asking me for how trade but i need the license

    I guess is something i want to do how you can star where you go to get a job

  12. Hi Ben. I know I'm late to the party. I just discovered your channel. I feel you provide very honest and balanced views.
    I have a question about becoming a financial advisor. I recently immigrated from the US and I live in Montreal. In my mid-30s, I currently work at a non-profit helping immigrants tackle problems and reach the Canadian dream. I love my job. I just completed the CSC and I want to transition into finance but I don't want to go directly into entry-level. Is there a way I can avoid this? Perhaps another course recommendation? The CFA?

  13. "technically nothing" as a person who clainms to have all your designations, how can you state this??!! This is far from accurate! If you begin to give financial advice without proper certification, you could be sued! What is your problem giving the advice that it takes "nothing". I'm flagging you.

  14. With little to no experience, it's easy for people to get advice from the wrong place.

    One of my first experiences with "investing" was when an insurance sales person came peddling funds. I did buy in for a small amount, but got out in a year or so when I realized they didn't have my best interests in mind. A couple years later an insurance agent I was already buying insurance from came around with his newly acquired securities license peddling funds. I told him I didn't like his funds, and could he sell me funds from another family that I thought were better. I told him I was not interested in buying load funds he get a commission on, but would consider no load funds and pay him a fee for services. He was initially dumb founded, and didn't seem to even understand what a no load fund was or how that would work. He had to go check with his company and he later came back and said said no, he could only sell loaded funds from a particular fund family…that was the end of that conversation. Not too long after that I opened an account at a discount brokerage and haven't relied on the advice of an advisor since. That's not to say I haven't consulted with advisors at the brokerage I use (at no additional cost) to bounce ideas around or for a sanity check, but I've never relied on others to make financial decisions for me. No one will look after your money as well as you have the potential to do.

  15. How Do I begin the courses to become a financial advisor? This a long term dream for me. However, I do now have a financial company backing me up. I NEED INFORMATION!

  16. Thanks for the information Ben! I think this was very helpful for anyone with little knowledge or just wanting general knowledge. I'mma check out your other videos. Thanks Again!

Leave a comment

Your email address will not be published. Required fields are marked *