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Financial Advisor Development Program information

See Chicago, IL salary details

$37.1K

$105.2K

$148.3K

How much do financial advisor development program jobs pay per year?

As of Jun 9, 2026, the average yearly pay for financial advisor development program in Chicago, IL is $105,213.00, according to ZipRecruiter salary data. Most workers in this role earn between $77,300.00 and $134,900.00 per year, depending on experience, location, and employer.

What are the key skills and qualifications needed to thrive in a Financial Advisor Development Program, and why are they important?

To thrive in a Financial Advisor Development Program, you generally need a bachelor's degree in finance, economics, or a related field, strong analytical abilities, and foundational knowledge of investment principles. Familiarity with financial planning software (like eMoney or MoneyGuidePro), CRM systems, and obtaining licenses such as the Series 7 and 66 are typically required. Exceptional interpersonal skills, active listening, and resilience make candidates stand out when building client relationships and navigating challenges. These skills and qualifications are crucial for effectively guiding clients, complying with industry regulations, and achieving long-term success in financial advisory roles.

What Is a Financial Advisor Development Program?

A financial advisor development program (FADP) prepares new employees for a career in financial planning. These professional development programs, operated by financial planning firms and companies, provide training to recent graduates and those new to the industry who want to work as financial planners. In these programs, you learn how to provide investment planning and wealth management services to clients through hands-on experience in advising and client relations and mentorships with experienced Certified Financial Planners (CFPs). FADP participants usually perform entry-level or administrative duties in different departments or areas within a company while training to get a fuller understanding of the roles of various team members who contribute to the company.

What is a Financial Advisor Development Program?

A Financial Advisor Development Program is a structured training initiative offered by financial institutions to prepare individuals for careers as financial advisors. Participants typically receive a combination of classroom instruction, mentorship, and hands-on experience in areas such as investment strategies, financial planning, and client relationship management. These programs are designed to help aspiring advisors develop the knowledge, skills, and certifications required to succeed in the financial services industry. Completion of the program often leads to placement as a full-time financial advisor within the organization.

What is the difference between Financial Advisor Development Program vs Financial Planner?

AspectFinancial Advisor Development ProgramFinancial Planner
CredentialsEntry-level certifications, such as Series 7, Series 66, or CFP prepTypically holds CFP certification or similar credentials
Work EnvironmentTraining programs within financial firms, focusing on client acquisition and salesIndependent or firm-based, providing comprehensive financial planning services
Employer & Industry UsageUsed by financial firms to train new advisorsUsed by financial planning firms and independent practitioners
Search & Comparison IntentUnderstanding entry pathways into financial advisingSeeking detailed financial planning services or career info

The Financial Advisor Development Program is a training pathway for aspiring financial advisors, focusing on skill development and firm-specific training. In contrast, a Financial Planner is a professional who provides comprehensive financial planning services, often with advanced certifications. The program prepares individuals for a career in financial advising, while Financial Planners typically serve clients directly with tailored financial strategies.

What can I expect from the mentorship and training structure in a Financial Advisor Development Program?

Most Financial Advisor Development Programs offer a blend of classroom learning, online modules, and hands-on experience under the guidance of seasoned advisors. You’ll typically be paired with a mentor who provides ongoing feedback, helps you build client relationships, and supports you through licensing exams. This collaborative environment not only accelerates your learning curve but also helps you develop essential skills in client communication, portfolio management, and compliance. Regular check-ins and performance reviews are common, ensuring you stay on track to achieve both short-term milestones and long-term career goals.
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Financial Advisor Development Program jobs near you

Financial Advisor Development Program

Northwestern Mutual - Greater Chicago

Skokie, IL

Other

Medical, Life

Posted 6 days ago

Job description

Financial Advisor Development Program 

Participants of the Financial Advisor Development Program at Northwestern Mutual Greater Chicago- Skokie, Elgin, Lombard, Vernon Hills, West Loop, Aurora are provided guidance, connection, and a framework for building an integrated financial planning practice from the ground up. Candidates are graduating from college in May 2024 and are interested in building a financial planning practice.  You will engage with local and nationwide experts and exclusive financial products with the support of a Fortune 100 company. You will have the opportunity to build your confidence, develop a professional network, and help people achieve financial freedom.

Our Financial Advisor Development Program allows you to:

  • Participate in a 3-month specialized training program following your college graduation that will lead to a career as a Financial Advisor.     
  • Learn how to prospect and network to build your business and client base.
  • Develop and execute a business strategy.
  • Call on potential clients and set meetings to understand their financial goals. 
  • Prepare plans and offer useful recommendations. 
  • Gain exposure to proprietary planning software platforms. 
  • Engage in weekly coaching, training, and development meetings. 
  • Obtain your Life, Accident, and Health insurance licenses as well as investment licenses (Security Industry Essentials, Series 6/7, and Series 63)

Are you a fit for the Financial Advisor Development Program? 

  • Full-time student; graduating in May 2024.
  • Entrepreneurial ambitions and curiosity for sales. 
  • Highly involved on campus (leader, athlete, campus orgs, student government, etc.)  
  • Excellent time-management skills. 
  • Interest in financial literacy and planning tools. 
  • Business savvy and desire to increase critical thinking abilities.

Compensation & Benefits 

  • Performance-based earnings and revenue
  • Learning and Development Incentives (up to $1000/month, not inclusive of earned commissions)
  • Support for insurance licensing (Life, Accident, and Health insurance license)
  • Support for Security Industry Essentials, Series 6/7, Series 63 registrations 

About Us

For over 165 years, we have helped our clients spend their lives living through comprehensive and innovative financial planning. We combine the expertise of our financial professionals with personalized digital experience and industry-leading products to give our clients the ability to successfully navigate their financial lives. 

Our tailored approach includes multiple financial strategies—insurance, investments, and annuities—built to reinforce each other, keeping our clients consistently on track to meet goal after goal. We lead with unmatched financial strength and access to the best products and services for our clients. 

Our Financial Representatives and College Financial Representatives are valued partners and proud business owners. As such, they are considered independent contractors1 for income tax purposes, and a "statutory employee" for Federal Insurance Contributions Act (FICA) tax purposes.

As a company, we value an inclusive and belonging workplace where everyone’s unique viewpoints bring new successes. We strive to create teams that reflect our customers and communities, fostering an environment where all employees are welcomed, valued, and heard.

Why join Northwestern Mutual:

  • Fortune 500 company (2023) 
  • 5.0+ million clients and growing1
  • $257 billion retail investment client assets held or managed by Northwestern Mutual2
  • Forbes' Best Employers for Diversity (2018-2021) 
  • Unsurpassed financial strength3
  • Best Place to Work for LGBTQ+ Equality- Human Rights Campaign Corporate Equality Index (2015-2021) 

1 As of June 30, 2023

2 Combined client assets of NMIS and NMWMC as of June 30, 2023

3 Among U.S. life insurers. Ratings are for The Northwestern Mutual Life Insurance Company and Northwestern Long Term Care Insurance Company, as of the most recent review and report by each rating agency. Ratings as of: 06/23 (Moody’s Investors Service), 08/23 (A.M. Best Company), 08/23 (Fitch Ratings), 05/23 (S&P Global Ratings)

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