As a financial advisor, you will be dealing with a wide range of issues, all regarding money, and all aspects of it from debt to investments. A financial advisor should hold a high level of business administration education and this is why an MBA is the suggested degree to pursue.

There is one thing to keep in mind, however, when working with individuals or business directors in the capacity of a financial advisor. You will be offering advice that can make or break them financially, and so you should also see yourself as a mentor – someone who really cares that they succeed.

What Kind of Interest Do You Have in Their Growth?

Your counsel should be aimed at growth and stability in all things financial, and the advice should be specific to the growth of client you are working with. As a financial advisor, there is no generic approach because each person’s finances are different and each person’s goals are different.

Whether that person is making personal financial decisions or choices for the company he or she represents, you are offering advice that can, again, make or break them. It boils down to that. So what kind of interest do you have in their success?

Are You Prepared to Be a Mentor?

If you have any doubts as to whether or not that MBA will give you the background you need to be a financial mentor, ask yourself about the quality of the education you will be getting. Is the online MBA as rigorous as the campus-based MBA program? If so, then you know that pursuing your degree online will give you the tools you need. Also, not all MBAs are created equal.

There is a variety of specializations within the industry and so, can online MBA pursue a specialization such as the background a financial advisor needs to do the job well? If so, you have the educational requirements, but beyond that, are you prepared to take a personal interest in those you advise? It is the opinion of many seasoned financial advisors that you should take a personal interest in each and every client because their future often depends on decisions you help them make today.

Reducing Debt and Growing Wealth

There are some people who seem to live in debt. As a ‘mentor’ you will need to help that person understand why they never seem to be able to get a handle on their finances. Sometimes they just can’t separate the wants from the needs and where they wouldn’t readily accept what a financial advisor tells them, they would listen to a mentor. A financial advisor is seen as a disinterested party whereas a mentor is seen as someone who cares.

Adopt the mentality of a mentor and you will have a greater impact on each and every client you advise. Be that one person who has the knowledge and expertise to lead them into sound financial decisions, and a person who cares whether or not they succeed. They are not just another client you charge by the hour or by the service, but someone you care about. That’s the difference between a financial advisor and a financial mentor. Which one are you?

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