What Financial Advisors DON'T Tell You About Being a Financial Advisor

When you hear the term "financial advisor", what comes to mind? Most likely, you picture a sharply dressed individual in a glass-paneled office, managing million-pound portfolios and guiding clients to financial success. While this image isn’t entirely wrong, it doesn't tell the full story—especially if you’re thinking of becoming a financial advisor or simply want to understand the unseen aspects of the industry. Just like with renovating a home, there's a lot behind the polished paintwork. Let's peel back the layers.

The Job is More Sales Than Strategy

Most financial advisors won’t tell you that a significant portion of their work, especially at the beginning of their career, revolves around sales—not financial planning. Despite the client-first branding, many entry-level advisors begin by cold-calling, networking, and selling products to meet their quotas.

If you're imagining days spent analysing stock charts or building unique portfolios for clients, you may be disappointed. Instead, many new advisors chase leads, close deals, and market investment products such as insurance policies, mutual funds, or managed accounts. Their performance is often measured more by revenue generated than by client returns.

This sales-driven atmosphere can often conflict with what's best for the client, especially if an advisor is incentivised to push certain financial products. Much like choosing the right materials for a home renovation, you want tools that truly suit your project—not just what the store is promoting this month.

Now, that doesn’t mean all financial advisors are 'just salespeople.' Many genuinely strive to act in their clients’ best interests. However, it's important to understand that career progression in financial advising is often closely tied to how much you can sell, not always how well you guide.

Certifications Vary Greatly in Quality

Another thing you won't hear often: not all certifications are created equal. Just as anybody can claim to be a handyman online, the title of "financial advisor" is loosely regulated in the UK. There's no single universal standard or qualification required to use that title.

Some advisors undertake years of rigorous study to earn chartered statuses from institutions like the Chartered Insurance Institute (CII) or the Chartered Institute for Securities & Investment (CISI), while others may operate with only minimal regulatory exams passed through the Financial Conduct Authority (FCA).

For clients, that means doing your homework. Would you let someone rewire your kitchen without checking their references? Treat your financial future with the same caution. Always ask about an advisor’s specific qualifications and membership bodies, and don’t be swayed by snappy job titles or expensive business cards.

The truth is, behind a professional exterior, many advisors still work for firms that train them to sell first and plan second. Understanding their level of knowledge and education is crucial to ensuring you're getting unbiased, informed advice—not just well-practiced sales pitches.

The Pressure to "Produce" Can Be Overwhelming

Even in the most prestigious firms, financial advisors live under constant pressure to generate business. This is especially true in the early stages of one's career, where many drop out within the first two years due to burnout or lack of clients.

Unlike many careers in finance or design, being a financial advisor often means you're running your own business within a firm. That might sound exciting, but it also means dealing with all the uncertainties of sole trading—without the freedom to set your own rules.

There are long hours, strict performance targets, and job security that hinges on client retention. Many advisors work evenings and weekends to accommodate their clients' schedules, juggling dozens of accounts and dealing with constant market changes in between.

Sound familiar? Anyone who runs their own joinery or design business might relate—being your own boss isn’t always the dream people imagine. Financial advising is as much about managing your workload and emotions as it is about managing money.

Higher Returns Don't Always Mean Better Advice

It’s a common misconception that if your advisor picks winning investments, they must be giving great advice. But just like choosing flashy fixtures over long-lasting quality materials, chasing short-term gains can often hurt in the long run.

Many of the best financial advisors spend more time talking you out of risky decisions than pushing you toward them. Their real value lies in helping you build long-term strategies, handle taxes effectively, pass wealth to your children, and stay calm during market dips—not in hitting high quarterly returns.

But here’s the secret: those services don’t always make for flashy success stories. They're not easy to highlight in a two-minute pitch. As a result, many advisors avoid mentioning that the best thing they can offer is not dazzling market-beating returns, but peace of mind and long-term financial stability.

Just like a well-executed bathroom renovation, you may not see the plumbing, but it’s the difference between smooth mornings and costly repairs.

They Might Not Be Legally Required to Act in Your Best Interest

Shocking, right? While financial advisors in the UK are bound by some regulatory standards via the FCA, not all follow a fiduciary duty. This means they may not be legally required to recommend the absolute best solution for your specific needs—they just have to recommend something "suitable."

This fine print allows room for commissions, conflicts of interest, and incentives that push some advisors toward recommending one product over another, even when it’s not the most cost-effective or efficient choice for the client.

It's similar to a tradesperson installing a more expensive kitchen because they receive a bigger kickback from the manufacturer—not necessarily because it's best suited to your space or budget.

Be wary of these “grey zones” in the industry. Ask direct questions: How are you compensated? Are you paid a flat fee, hourly, or by commission? Do you receive incentives from product providers? If the answers sound vague or hesitant, consider shopping around.

You’ll Need to Be a Psychologist… Kind Of

Advising clients about money isn’t just numbers prep. A huge part of the job involves managing emotions, expectations, and sometimes outright panic—especially during market downturns.

People make emotional decisions around money, just like they do when designing their dream home or choosing a paint colour. A good financial advisor must be able to talk someone out of irrational, fear-based decisions and help them stay the course.

This emotional load can be intense. Advisors regularly walk clients through divorces, inheritances, and even unexpected job losses, often becoming a trusted confidant in the process. But this side of the job is rarely advertised or taught in exams.

It’s one of the most rewarding, yet draining, aspects of the profession—and unsurprisingly, very few people entering the industry know it’s coming.

Are Financial Advisors Still Worth It?

Despite these little-known truths, qualified and ethical financial advisors can deliver immense value, especially for clients with complex financial needs or long-term goals. Just like working with a great interior designer, their advice can help you avoid costly mistakes and create a plan that reflects both your budget and lifestyle.

But whether you’re hiring one or becoming one, understand the full picture. Don’t let slick branding or industry lingo distract you from asking the tough questions. After all, financial planning is part of personal well-being—treat it with the same scrutiny and care as you would your home.

Remember: in finance, as in DIY, the best outcomes come from people who are more interested in solving your unique problem than selling you a solution off the shelf.