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While a business degree from a reputable institution does not mean that the individual is the financial advisor for you, it does imply that the person has a limited level of proficiency. It is important to determine the area of study. Does he have a business degree? Was the concentration in finance? Accounting? A degree unrelated to business should not automatically rule the person out as an advisor. For example, a degree in psychology when dealing with a client experiencing a divorce or the loss of a loved one can be very beneficial. The following is a listing of degrees the advisor might have.
- BA-Bachelors of Arts-A study of liberal arts disciplines such as philosophy and psychology. Requires four to five years to complete.
- BS-Bachelors of Science-A study of applied disciplines such as finance and engineering. Requires four to five years to complete.
- MA-Masters of Arts-A continuation of liberal arts studies after the BA or BS is completed.
- MS-Masters of Science-A continuation of applied studies after the BA or BS is completed.
- MBA-Masters of Business Administration-A continuation of studies after the BA or BS is completed. A MBA candidate, while concentrating in one field, will take classes in other areas of business. The MS business candidate will take classes exclusively in one concentration. A MST (Master of Science in Taxation) is an example.
- Doctoral-After completing a masters level program, the doctoral candidate works towards achieving the highest educational degree offered. A research paper in his field may be required. Three or more years may be needed to receive this degree. These people tend to be employed as professors and researchers after graduation.
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