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Financial Planning Career Information

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What Do Financial Planners Do?


A financial planner meets with clients

For the many people who cringe at the thought of wading through the concepts and consequences that often define financial matters, a financial planner is a much needed guide.

Financial planners work with individuals to set the plans that will allow them to achieve financial goals such as buying a home, sending kids to college and having a comfortable retirement.

More so than other finance careers, financial planning requires excellent communication and interpersonal skills; it is crucial that practitioners can understand their clients' needs and convey complicated tax, insurance, investment and estate-planning advice. Many in the field start out in large firms and eventually move into private practice, which affords a greater deal of independence. To begin working towards a career in financial planning, find finance bachelor's, MBA, or master's degree programs.

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Financial Planner Career Path

Entry Level Mid Level Senior Level

Types of Roles

Assistant financial planner

Financial planner, certified financial planner

Director of financial planning, entrepreneur

Experience

0 - 3 years

4 - 8 years

10+ years

Getting There

  • All entry-level requirements
  • Certified Financial Planner (CFP) and/or Chartered Financial Consultant (ChFC) certification
  • Excellent interpersonal skills
  • All mid-level requirements
  • MBA degree and/or National Association of Securities Dealers (NASD) trading licenses
  • Ability to form strong client relationships

Salary*

$25,000 - $40,000

$47,000 - $71,000

$67,000 - $105,000

Description

  • Use computers and software to enter and analyze financial data
  • Support senior financial planners
  • Interview clients to determine financial status and goals
  • Manage client relationships
  • Clearly communicate complex financial concepts
  • Develop and deliver financial planning seminars to clients and prospective clients
  • Coordinate legal, tax, investment, estate and insurances perspectives
  • Prepare and monitor comprehensive financial plans

* Depends on company size, specific job, and location
Sources: SalaryExpert.com, Salary.com, Bureau of Labor Statistics, Wois.org, Monster.com

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