What You Need to Become a Financial Planner
Become a Financial Planner
There is a difference between financial planners and mortgage brokers, but most people have heard of the former. As the name suggests, financial planner works for a financial institution or a company and helps them make investments for their clients. For instance, he drafts a will for a client wherein he ensures that the money the client gives to his family will be used properly and equally. He also manages and coordinates investments for the client’s heirs. This job entails thorough knowledge about tax laws and financial trends.
If you want to become a financial planner, you will have to study accounting and financial planning. You should be able to gather facts and figures with great precision and be able to analyze data and make accurate projections. The minimum educational requirement for you to get into a financial planner’s office is a high school diploma. But if you hold an MBA or a CPA, you are in the right track. These two degrees will equip you with the necessary skills and experience to rise up the ladder.
When you start in the world of financial planner, you may find yourself handling a variety of clients. This may include people from government, corporations, and banks. It is your duty to help these clients make wise decisions regarding their financial investments. Some of your duties may include brokering deals with real estate, financial institutions, and mortgages. You will have to work hard to impress your clients and gain their trust.
What You Need to Become a Financial Planner
If you decide to pursue a career as a financial planner, you can either work independently or be employed by a firm or organization. You can also choose to work as a manager or a supervisor in a certain company. It is important that you have good interpersonal skills because your clients will rely on you for guidance.
A financial planner’s salary depends on several factors. First of all, you must determine the type of client you would like to work with. Are you working with individuals or companies? Do you specialize in helping business owners handle their investments? Once you know the kind of client that you would like to work with, you must then prepare yourself for the job. It would be helpful if you take a few courses on planning so that you can learn about your job better.
Aside from the job requirements, education and licensing should also be considered. A good financial planner must be licensed by the appropriate agency. The agency license ensures that your planner is following the standards set by the government. To become a licensed planner, you must pass the necessary exams. Upon successful completion of the course, you will receive a license. There are also many agencies which will train you once you have earned the license.
