You're ready for a career change, and you've got your eye on financial services. Maybe you want a higher earning potential, maybe you want to turn your interest in stocks and mutual funds into a career. But no matter what the reason, your first question is probably, "Where do I start?"
Here’s the good news: starting a career in finance is more accessible than you might think! The finance world loves fresh perspectives, and whether you’re a teacher, work in marketing, or a former circus performer (honestly, tightrope-walking experience could be a real benefit in finance!), your past experience is valuable. But to get your foot in the door—and keep it there—you need to speak the language. That’s where finance certifications and credentials come in.
Think of financial certifications and other credentials as your passport. They tell employers and clients, "I know my stuff, and I’m serious about this."So, we're breaking down the best options that can fast-track your career change from "finance hobbyist" to "finance professional."
Finance Certification #1: CFP® Certification
Financial planners work with people to help them understand and manage their finances and reach specific financial goals through customized plans and guidance. This could be helping a young family save for their child's college fund or helping a high-net-worth client reduce their tax burden (and everything in between). Having a CFP® certification proves you not only know and understand all areas of financial planning, but you also understand how to put it all together to create holistic financial plans personalized to the needs of each client. Pretty neat, huh?
What is the CFP® certification?
The Certified Financial Planner® (CFP®) certification is awarded by CFP Board to those who show proficiency and practical understanding of all areas of financial planning, including tax, retirement, insurance, estate, and investment planning. Candidates will also need to understand the psychology of financial planning and, because CFP® professionals are fiduciaries, must also understand and follow a strict code of ethics and standards. This provides proof to clients as well as protects their best interests.
The Requirements
If this financial certification interests you, the next step is knowing how to become a CFP® professional. Getting your CFP® marks isn't a walk in the park, but it's definitely climbable. You need to conquer the "4 E's":- Education: You need a bachelor’s degree (in any field!) and you must complete a CFP Board-registered education program consisting of seven courses and a Capstone course where you prove competency through real-world activities.
- Exam: A comprehensive, 6-hour exam that covers everything you learned in your coursework from investment planning to ethics.
- Experience: You need 6,000 hours of standard professional experience or 4,000 hours of apprenticeship experience.
- Ethics: You have to agree to adhere to high ethical standards. Basically, promise to put your clients first, always.
What Can You Do with a CFP® Certificate?
Having your marks opens the door to working as a financial advisor, financial planner, or wealth manager. You can work for a big firm, a small boutique practice, or even hang your own shingle and start your own business.
Why You Should Do It
Financial planning allows you to dig into finance and help people improve their lives. It’s incredibly rewarding to help a family send their kid to college or retire without worry. Plus, the earning potential is fantastic (CFP® average salary is around $192,000), and the demand for planners is skyrocketing as more people are thinking about saving for retirement and create more secure futures. Plus, with its lower barrier to entry, it's one of the more accessible financial certifications for career changers.
Finance Certification #2: Chartered Financial Analyst®
If the CFP® certification is about people, the CFA® charter is about markets. It is widely considered the most rigorous credential in the investment management profession. It’s for the deep divers, the analyzers, and the people who dream in spreadsheets.
What is a CFA®
A Chartered Financial Analyst® (CFA®) is a designation awarded by the CFA Institute to an individual with proven competence in investment and financial analysis. Chartered Financial Analysts dig into the data of finance. They specialize in investment analysis, portfolio management, financial modeling, and quantitative analysis. "
How to Become a CFA®
Like CFP® certification, becoming a CFA® also requires education, passing an exam, experience, and committing to a code of ethics. But these are a bit tougher.
- Education: A bachelor’s degree in any major (or the equivalent) You can register for Level I of the exam while you are in the last two years of your undergraduate program, but you’ll need to have your degree to register for the other exam levels.
- Experience: At least 4,000 hours of relevant, professional work experience completed in at least 36 months
- Exam: Pass all three levels of the CFA Exam and complete a Practical Skills Module at each exam level
- Ethics: Commit to a code of ethics and submit two to three reference letters
What Can You Do With It?
You’ll find CFA® charterholders working as portfolio managers, research analysts, risk managers, and investment strategists. They often work for hedge funds, asset management firms, and investment banks.
Why You Should Do It
It carries global prestige in the investment world. If you want to work on Wall Street (or Main Street’s version of it) managing large pools of money, this is the ticket. It signals to employers that you have a deep, technical understanding of financial markets.
Financial Certification #3: Enrolled Agent (EA)
Technically, this isn't a financial certification, it's a designation, but it's one that is highly regarded in the finance and accounting world. Taxes are the one thing everyone has to deal with, and they are complicated. Being the trusted tax professional who solves those headaches and saves your clients money makes you a superhero (but swap the cape for a quarter-zip or sensible sweater).What is it?
An Enrolled Agent (EA) is a federally authorized tax practitioner empowered by the U.S. Department of the Treasury to represent clients before the IRS. While this can include preparing tax returns, it can also include assisting clients during audits, appealing a judgment or setting up a payment plan, and fixing incorrect returns prepared by someone else. Unlike CPAs, who are licensed by states, EAs have a federal license and can represent clients anywhere in the United States, including territories.The Requirements
Enrolled Agents have lower barriers to entry than many financial certifications, but here's what you need to do:
- Get your Preparer Tax Identification Number (PTIN): This is mandatory for anyone who is paid to prepare or assist in preparing a federal tax return.
- Pass the Special Enrollment Exam (SEE): This is a three-part exam covering individual taxation, business taxation, and representation practices and procedures.
- IRS Vetting: You'll need to pass a background check and tax compliance check to ensure you're in good standing.
You don't need a college degree or any experience of any kind to earn your EA credential.
What Can You Do an EA Designation?
You can prepare tax returns for individuals and businesses, represent clients in audits, and offer tax planning advice. Many EAs work in accounting firms, law firms, or run their own tax prep businesses.Why You Should Do It
Job security is solid. As long as there are taxes, there will be a need for EAs. It’s also a fantastic "value-add" credential. If you want to become a financial planner, knowing the ins and outs of the tax code gives you a huge leg up. An EA credential and CFP® certification can go hand-in-hand, allowing you to offer tax advice prep as well as tax and financial planning services.
(Not Technically a )Financial Certification #4: Securities Licensing
These aren't certifications in the same way the others are—but let's look at a few licenses that legally allow you to more fully operate in a financial services role. Think of these as your driver’s license for the finance highway.
What Are They?
We're mainly looking at three licenses:
- Securities Industry Essentials (SIE): This is the foundational exam that covers basic concepts across the securities to demonstrate basic competency and readiness to specialize. It's a prerequisite for most other FINRA (Financial Industry Regulatory Authority) registrations and state licenses.
- General Securities Representative: Known as Series 7, this is a broad, FINRA-administered license that allows you to sell securities, like stocks, bonds, and mutual funds. This is considered a core license to move into brokerage roles and general advisory support that involves transaction-based compensation.
- Uniform Combined State Law: More commonly called Series 66, this is also a FINRA-administered license that combines elements of state securities and investment advisory (covered in the Series 63 and Series 65). Having this license allows you to operate as an investment adviser representative and a securities agent in most states, enabling fee-based advisory relationships as well as traditional brokerage activity.
The Requirements for Securities Licensing
- SIE: You have to be 18 to take this exam, and that's really the only main requirement. This is designed to be a universal, baseline check of your knowledge of industry information and ethics.
- Series 7: First, you'll need to pass the SIE Exam and gain sponsorship by a FINRA-member firm to register and take the Series 7 Exam.
- Series 66: You'll need to pass Series 7 first or at least be in the process of taking it. You also need to register through FINRA as well as your state.
What Can You Do With Securities Licensing?
Once you pass the SIE, Series 7, and Series 66 Exams and have your license, you'll be legally authorized to sell securities on behalf of clients and provide fee-based advisory services, which increases your opportunities across broker-dealer firms, RIAs, and hybrid practices.
Why You Should Get Your Series 7 and Series 66 Licenses.
Start with the SIE. Since you don’t need an employer to take it, passing the SIE on your own shows potential bosses that you are proactive, capable, and ready to hit the ground running. It’s a low-cost way to prove you’re serious about the career change. Once you have your Series 7 and 66 licenses, you'll have greater career flexibility and credibility, which increases your opportunities in the financial services field.
The "Chicken and Egg" Problem: How to Get Experience for a Financial Certification
"Job requires experience. Experience requires a job."
It’s the classic paradox that makes career changers want to scream into a pillow. But in finance, there are creative ways to bridge that gap.
1. Leverage the "Transferable Skills" Narrative
Did you work in sales? That’s client acquisition. That’s financial education. Were you a project manager? That’s process implementation. When rewriting your resume, don't just list what you did; translate it into finance-speak. Show them you have the "soft skills" that are hard to teach.
2. Join Professional Associations
Groups like the Financial Planning Association (FPA) or the National Association of Personal Financial Advisors (NAPFA) often have local chapters. Go to meetings. Shake hands. Eat the rubbery chicken at the banquet. Networking is how most people find their first gig.
3. Look for "Paraplanner" or "Client Service Associate" Roles
You don’t have to start as the lead advisor. Support roles like Paraplanning allow you to learn the ropes, handle the paperwork, and sit in on client meetings. It’s essentially a paid apprenticeship.
5. Volunteer
Programs like VITA (Volunteer Income Tax Assistance) let you prepare tax returns for low-income communities. It’s amazing experience, looks great on a resume, and you’re helping people. Win-win-win.
Ready to Take the Leap
Changing careers isn't about erasing your past; it's about building on it. And BIF can help you achieve your goals through CFP Board-Registered Education and our CFP® Exam prep, The BIF Review. Download our free guide, "Become a CFP® Professional with BIF," to learn more!
