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What Is A Career In Financial Planning Really Like?
Financial planners sit alongside other professionals such as wealth managers and independent financial advisors in providing a very worthwhile service – looking after the financial future of a client. This could be an individual, a couple or even a business. It’s a people business, so if you like puzzling things out and helping people, it’s a great career choice. Many financial planners name this as one of the most rewarding aspects of their jobs. Really good financial planners retain clients over decades through great working relationships. They plan and secure a financial future for their customers and their families too.
What Professional Development Is There?
There are several different entry points to this career. Some people start off as Administrators, gaining the skills to understand how financial advice firms operate and letting you build up product knowledge. Many then choose to progress to a Paraplanner role. This involves conducting research about money markets and hunting out financial products for a client. This role is very suited to those who enjoy challenges and working with data sets. There are some specialist companies of paraplanners who get outsourced work from financial advice firms. Then you could choose to become a financial planner. For this, you will need a professional qualification as the market is strictly regulated. A Level 4 qualification like the CII’s Diploma in Regulated Financial Planning is essential. You will also need to undertake CPD (Continuing Professional Development) to keep your skills current each year. Something like cfp continuing education is perfect for keeping your knowledge up to date.
Where Can I Work As A Financial Planner?
There are two approaches to financial planning that companies tend to take to structure their operations. One is to split it geographically, so you work in a particular region. The other is to specialise in one sector – such as the oil industry, or footballers, or the legal sector. You may be dealing with quite high-profile clients in some instances. There are a few large, well-known financial planning firms – Wren Sterling, Hargreaves Lansdown and St James’s Place to name a few, and equally lots of small-to-medium firms as well.
How Rewarding Is Being A Financial Planner?
As a responsible profession, if you become a financial expert you can expect to be well paid and also likely receive a quarterly bonus if you achieve certain goals. But the career is also rewarding on a personal level. Helping people towards a better future, educating them about their finances and developing those relationships gives a huge amount of satisfaction. With the current level of personal