Financial Advisors
Formal Description
“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.” (NOC 2021)
Sample Job Titles
This category includes a variety of job titles that may not necessarily be reflected by the category title. For a full index of job titles, see the category entry on the ESDC site. Example job titles include:
Account Manager
Associate Investment Advisor
Banking Advisor
Financial Planner
Financial Security Advisor
Investment Specialist
Securities Analyst - personal finances
Wealth Advisor
Typical Employment and Education Requirements
The requirements listed for each occupational category will tend to vary across particular roles, job titles, and contexts. {This text can be swapped to either column for balance.}
The following typical requirements are listed on the ESDC’s 2021 entry for this occupational category:
- “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 license 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.”
Success with a Social Sciences Undergraduate Degree and Beyond
When reviewing typical requirements, please remember:
- Degree and diploma listings often end with a purposefully open-ended phrase (“or a related field”, “or a similar discipline”) that acknowledges the variety and applicability of social sciences and liberal arts degrees.
- Employers often focus less on the name or title of a candidate’s degree, and more on how they articulate their transferable skills and experiences.
- Many qualifications and certifications are available as post-graduate certificates aimed at recent university graduates; these can make an excellent further education option for a social sciences or liberal arts degree.
Related Sectors
Whereas Economic and Social Development Canada’s ‘occupational’ categories tend to focus more on the duties and functions that people play in specific roles, exploring careers by ‘sectors’ helps us to sort by employer type, industry, or general field of work. Here are just a few of the sectors that may be relevant to this category:
Academic Program Connections
As you select your program of study and the courses you will take, you can chart a path towards success in this sector from any one of our social sciences departments and programs. Here are just a few examples of academic disciplines that have connections with this sector:
Economics Learn More
An Economics degree provides a solid foundation for a career as a financial advisor, giving a student the analytical, theoretical, and practical skills to help clients make smart financial choices.
Political Science Learn More
Knowing how global trends, policies, and markets interact, helps to create financial strategies.
Sociology Learn More
Sociology teaches how to analyze complex systems, enabling the ability to consider all aspects of a client’s life when designing financial plans.
Work & Labour Studies Learn More
Understanding how industries evolve and the impact of labour market changes enables a student to provide helpful financial advice to future clients.
