Why You Should Consider Becoming a Financial Planner
A financial planner is someone who consults with clients, and helps those clients with their financial concerns. It’s a demanding career, but the rewards are great. On average, CFPs (certified financial planners) earn between $40,000 and $75,000 per year. Financial advisors who have additional skills, such as accounting, can earn already higher salaries. That salary rises already more for financial planners with more than ten years of experience, and for those who own their own advising business. The highest paid financial advisors earn upwards of six figures each year.
Money isn’t the only motive for financial advisors to work in this field. It’s a great career option for extroverts, and those who have good people skills will really succeed. Financial advisors meet with their clients on a regular basis. They develop a strong working relationship, and learn what really matters to their clients. Clients come to financial planners with a variety of goals, like clearing up debt, saving up for their children’s college tuition, or putting aside money for a second honeymoon. Younger clients might need help clearing up their debt and improving their credit score, so they can obtain a mortgage for their first home. Older clients, however, might need some help putting together an investment portfolio that will provide for their grandchildren after they are gone. clearly, these are very personal concerns. When a financial advisor excels at his job, he gets to see in a direct way how his hard work improves his client’s life. This method that financial planners have a level of job satisfaction that is rare in the financial sector.
If you are thinking about going into financial planning as a career, but you’re not sure that you have the qualifications, there’s one more thing you should know. Most people who are working as financial planners didn’t go straight from college into this field. In fact, 88% of financial advisors held another kind of position before they started this work. If you have a four-year college degree, you can start studying to pass the Certified Financial Planner examination without returning to school for any additional degrees. Plus, hiring managers often prefer financial planning candidates who have a substantial background in other fields, such as business, accounting, customer service, information technology, or sales. Varied work experience shows versatility, and it method that you will be able to understand the needs of many different kinds of clients.
To get started in the field, try to find a financial company that will hire you for an entry-level position. Most big firms will provide training so you can take the necessary certification exams after you are hired. Then you can start building a base of clients who trust you to point them in the right direction with investments and savings. If you have an interest in money management, and the desire to help your clients enhance their financial lives, financial planning should be a perfect career fit for you.