Career In Financial Planning

Ever thought of becoming a financial planner? Financial planners help individuals in planning their financial futures. A good financial planner is one who has adequate knowledge of taxes, investments, portfolios etc. This is because Financial Planners have to advise clients on investment planning, retirement planning, tax planning and risk management. Certified financial planners must pass a series of professional certification examinations in addition to a bachelor’s degree. Financial planning combines investment analysis and statistics.

Certified financial planners help their clients in choosing the investment options. They are basically concerned with developing a plan which would reap in maximum benefits with minimum risk. Financial planners may also set up their own business.

In United States CFP examination is designed for people who want to become certified financial planners. The CFP Board is an independent professional regulatory organization that extends licenses to those planners who pass the CFP examination. The CFP certification examination is a 10 hour multiple choice examination, divided into one four hour session and two three hour sessions. Most clients look for financial planners who are certified. It would help if you have a sound accounting and finance knowledge before taking up this certification course.

Certified Financial Planners have to advise clients to take up the best possible investment option; therefore it is necessary that they have sound knowledge of market, available investment options and statistics.

According to a survey average salary for financial planners is around $60,000 per year. More and more Americans are now increasingly planning for their future. Financial planning is therefore fast emerging as most sought after career option.

Financial planners need to be vigilant at all times. This career can turn out to be too stressful as the financial markets are unpredictable. Prospective financial planners should encourage their clients to take up long term investments rather than short terms due to volatile nature of the financial markets.

It’s not that once they have designed the plan for their client it will remain as it is. They are required to suggest the necessary changes as required according to the changes in the financial market.

Always, keep in mind that this field will open up many other related fields such as banking, financial analysis etc. So excel in this field!