From newly established startups to well-established companies, all businesses fulfill their tax obligations, confidently prepare their financial statements, and base their strategic decisions on solid foundations under the guidance of financial advisors. The professional standards set by Law No. 3568 make financial advisory a critical function that requires both technical expertise and analytical and strategic thinking skills.
Who is a Financial Advisor?
A financial advisor is a licensed expert who, according to Law No. 3568, keeps business records, prepares tax returns, monitors financial processes in compliance with legislation, reports, and audits when necessary. The profession is practiced under two separate titles:
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- Independent Accountant Financial Advisor (SMMM): Keeps books, prepares declarations, handles payroll and daily accounting operations; provides continuous consulting to the business.
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- Sworn Financial Advisor (YMM): Authorized after at least ten years of SMMM experience and examination; does not keep accounting records. Performs independent auditing and reporting by certifying tax returns and financial statements; documents sealed by them serve as evidence before administration and judiciary.
What Does a Financial Advisor Do?
According to Article 2 of Law No. 3568, financial advisors can provide the following services to individuals and legal entities:
| Task | Description / Contribution |
| Accounting Records | Organizing income-expense records, correcting errors and deficiencies |
| Financial Reports | Balance sheet, income statement, cash flow, special reports (VAT refund, capital increase) |
| Tax Services | Tax planning, declaration preparation & electronic approval |
| SSI & Payroll | Employee notification, payroll preparation, e-Declaration approval |
| Consulting | Establishment, merger, division, liquidation, tax and financial processes |
Why is it Important?
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- Reduces incorrect declaration risk: Tax penalties and delay interest are minimized.
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- Provides financial visibility: Management makes quick decisions with current reports.
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- Accelerates growth: Correct tax incentives and financing options are determined.
How to Become a Financial Advisor? (2025)
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- Bachelor’s Degree: Graduate from departments such as economics, business administration, finance, accounting, etc.
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- Internship: Mandatory 3-year internship for bachelor’s graduates, 2 years for master’s graduates.
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- SMMM Exam: Pass the multi-session exam conducted by TESMER.
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- License: Obtain a license through the Union of Chambers of Certified Public Accountants and Sworn in Financial Advisors of Turkey (TÜRMOB).
Additional Conditions: Capacity to exercise civil rights, not being deprived of public rights, not having received disciplinary punishment incompatible with professional dignity (Law 3568 art.4).
Frequently Asked Questions
What is the biggest difference between SMMM and YMM?
YMMs certify the accuracy of declarations by preparing tax certification reports; SMMMs cannot certify but handle all book-declaration and accounting processes.
When do I need a financial advisor?
Professional support is needed from the company establishment stage for book opening, tax office notifications, SSI transactions, and initial declarations.
Digitize Your Accounting and Tax Processes with Üstad
If you want to reduce traditional accounting burdens, you can work with your financial advisor in a digital environment through the Üstad platform; automatically transfer your income-expense invoices, and access your trial balance and balance sheet reports from a single panel.
