Financial Planning As a Career

Do you want to be a financial planner?

Planners usually enjoy a high degree of professional autonomy which varies from firm to firm. The role appeals to those who enjoy to teach inexperienced clients who need guidance in managing their personal finance. This role also provides a chance to improve their client’s life through financial stability.

Personal financial management requires of keeping up-to-date records of current developments in financial products, tax laws and strategies, particularly with respect to retirement plans and estates. This role is dynamic in nature which requires the ability of sales to acquire new clients and development of new ideas to enhance the financial situation of current clients.

What does it take to be a financial planner?

Setting goals and implementing strategies to accumulate wealth, through creating personal budgets and controlling expenditures is the basic role of a financial planner. For actual investment of client’s funds a planner needs to have relationships with financial advisors and investment managers on a regular basis and also with mutual fund companies if required.

To become a planner a minimum bachelor’s degree is expected with course work in finance, accounting and economics which is not mandatory but it can help in adding up to your educational assets. Strong analytical and quantitative skills are a must. An MBA will be an added advantage during hiring processes. A highly advisable certification exam for financial planner is Certified Financial Planner (CFP). By this certificate a planner’s creditability and marketability increases for both employers and clients.

Earning scope for a financial planner

In U.S, financial planning is one of the fastest growing career opportunities delivering high salary ranges. As per research and statistics, planners starting salary ranges from $10000 to $30000. A professional with 5 years of experience can earn an average salary up to $40000 and financial planners with an experience of ten to fifteen years can earn up to $90000.