Definition of the Job
So, what exactly are financial planner jobs? As the name implies, the professional engaged in financial planning work assists individuals and organizations to deal with the myriad of financial issues related to the acquisition and preservation of financial wealth. Keep in mind that the work of a financial planner involves plenty of planning in respect to the client's financial goals, objectives and needs.
The areas involved in the financial planning occupation include education planning, retirement planning, insurance planning, estate planning, cash flow management, investment planning, risk management, tax planning, and business succession planning. Often, a separate plan will be prepared for each type of financial wealth although a master plan is also necessary to tie all the components into one unified whole. Throughout the planning process, the client's needs are the topmost consideration.
Clients can be found almost anywhere for the professionals desiring to find viable financial planner employment. As previously implied, well-off individuals often require financial planners to provide competent management of their wealth although it must be emphasized that even individuals with average incomes will also need the services of a financial planner. For example, financial planner work may also be found with individuals wishing to ensure financial independence in old age (retirement planning), educational assurance for kids (education planning) and distribution of assets upon death (estate planning).
Financial planner jobs are also available in specialized organizations offering said financial planning services. To name a few, there are insurance companies, pre-need organizations, investment institutions and financial consulting firms, all of which offer many types of financial planning work targeted at both individuals and groups.
The trick is in choosing the specific financial planning occupation most suitable to one's professional and personal qualifications. Keep in mind that there are significant differences between the financial goals of an individual and an organization. For example, an individual will seek to profit from investments for retirement purposes while an organization will seek profit for it expansion goals.
Qualifications for the Jobs
As with any employment in the finance sector, the qualifications for successfully landing financial planner work varies from one employer to the next. The types of services and the kinds of clients being served by the company has plenty of things to do with such variety. For example, financial planner employment in a pre-need organization catering to families often requires a different set of knowledge, skills and capacities than being employed by an investment institution serving the multi-millionaires club.
However, most of the advertised financial planner jobs require applicants to possess the following qualifications before being considered for employment:
* Bachelor's degree from an accredited college or university with many employers now preferring applicants with master's degrees in related fields. The degree itself must have focus on finance and financial planning in areas like insurance, employee benefits, state and federal tax, investment and securities, estate and retirement, to name a few.
* Minimum of three years' experience in actual financial planning work. The applicant must have performed supervision, support and delivery of financial planning services directly to the client starting from the establishment of the client relationship to the monitoring of implementation of recommendations. Of course, an internship can be provided by individual or organizational mentors.
* Certification from the governing organization in the industry. In the United States, it is the Certified Financial Planner Board of Standards, Inc that confers the certification of Certified Financial Planner after the applicant has passed the examination and complied with the other requirements. The certification is a mark of excellence in the field as well as a demonstration of one's commitment to the profession.
It cannot be overemphasized that the job of a financial planner also involves ethics. We are talking about the adoption of a strict code of professional conduct such that the integrity of the profession is protected at all times. Unfortunately, such a personal trait cannot be provided by the best schools and the best working environment for the matter is still in the hands of the professional.
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