In the financial services industry the most well paid and the money making line of business is considered to be as a financial counselor. An individual is helped to understand the present economic situations with the possibility of events that can endanger their income or assets. The financial counselor suggests suitable plan to be executed in order to secure the individual’s income or assets. A better approach to the future is suggested by the counselor by providing appropriate mode of growing the income or asset the individual has so that even at their retirement stage they don’t have to depend on others. Real hard work, much time and a good capital is required to become a triumphant financial counselor. The existing situation of the financial industry, the subjects like insurance and investments, etc must be familiar to the financial counselor and he must be able to give better information about it to his client. Financial counselors are issued licenses by the state or the federal government. The financial counselor must be aware of the industry legislation and planning concepts which can ultimately help them to help their clients. With an indemnity producer authorization issued by the state and a variable safety license issued by the central he can provide their clients with complete service. The financial counselors must be highly qualified and proficient in their field. They must be able to understand their clients of the present financial situations. They must be able to bring out their clients form the time of financial difficulty. They must be able to make the clients understand the value of money with the effective management of money. Better plans can be suggested so that a better objective can be achieved by the client. They give clients confidence to approach better money plans. A professional diploma for the financial counselors has recently been made compulsory by the Association for Financial Counseling and Planning Education. Practical training is required by the financial counselor in personal finance under the Accredited Financial Counselor.