Financial planners help to take monetary decision on client’s financial state on behalf of them. They earn their living by preparing a post retirement planning chart of the client, guide the clients with investment options as well as assists them in relation to huge financial expenses. If you’re planning to choose this career, then there are lucrative job opportunities for you. Before you plan to work as a financial planner, make sure you acquire proper information on the duties, career option and get a sneak peek on the course of becoming a financial planner.
Well, there are two types of financial planners one is certified and other is not. However, the job responsibilities of a certified financial planner is defined by the Certified Financial Planner Board of Standards. But the non certified financial planner’s task is determined on the basis of the client’s requirement.
Why consumers are keen to hire financial planner?
In this tough economic situation, hiring a financial planner has become a common affair. This is because the professional provides their clients with a proper financial goal and it helps to secure their financial future. The planner discusses with the client about his goals, analyzes the financial steps that is required to be taken and also about tax ramifications. So, financial planners help clients to make decisions in regards to their personal finances.
What are the job responsibilities and duties of a financial planner?
One of the primary job responsibilities of the financial planner is tax planning to help the client save more and avoid tax penalties. Well, the financial planners don’t prepare tax returns but guide the clients to maximize tax deductions to lower the year end liabilities. Another duty of his is that of a financial planner. He helps the clients to achieve their financial goal and guide them to invest in right shares and bonds to secure their client’s financial future.
Analyzing the financial data of the clients is a part of the duty of the financial planner. After the reviewing the data, the planner sends it back to the client along professional suggestions on different areas.
How to become a skilled financial planner?
If you’re planning to become a certified financial planner (CFP), then you need to find a broker that offers sponsorship to take the required licensing exams You’re required to take up two exams to become a financial advisor. The two exams are the Series 7 Stockbroker’ s Exam, and the Series 66 Uniform Combined State Law Exam. You need to score a 70% to become a financial planner. In case, you fail to meet the score, you can give the exam after 30 days.
After passing the exam, you need to undergo a tough sales and product training class. Well, this training class is offered at the broker’s expenses and the class may continue for 1 month to 3 years. During the training period, you may receive a small amount of stipend. Well, the potential financial advisors are required to work for 50 to 65 hours per week. A professional financial consultants are required to work for 40 hours a week. Make sure you have dedication as well as determination if you’re planning to choose this profession.
Make sure you take a certification class that is offered by traditional colleges or program provided by centers. Well, you’re required to work as a financial planner for 3 years and complete the work in this field for a definite period of time.
Therefore, you’re required to consider the above mentioned points if you’re planning to choose your career as a financial planner. You need to take the right steps in order to climb the ladder of success and diligently assist consumers with debt solutions.
Modified: October 13th, 2017
Published: August 27th, 2013