Financial planners assist people in managing their financial matters. As a financial planner, candidates develop and execute financial plans to ensure their clients to make best use of their savings, income and investments. These planners effectively devise financial strategies for retirement, children's education or making investment decision for clients.
Financial planners advise individuals, and business owners on all areas of finance. These include risk management, pension plans, retirement, superannuation, cash flow management, education, investment strategies, insurance, business planning, real estate and tax.
Career in financial planning is personally and financially rewarding and needs outstanding interpersonal skills. As a good financial planner, candidates must understand investments, taxes, estate planning issues and have listening power.
They can work in a company such as IDS Financial Services or as an independent.
Most planners go alone to provide their services. It is necessary that candidates must have qualities of entrepreneurship that enable them to practice successfully in this area.
Candidates who want to make career in this field must possess people skill, sales skills, communication skills, analytical skills, ability to synthesize and creative ability.
The financial planning sector offers huge number of career options to clients having economic degree. Aspirants of financial planning must hold a bachelor's degree in the area of finance, business administration, economics or accounting. They can also acquire qualification in investment banking and tax laws.
Job duties of these planners include account management, maintaining healthy relationship with clients and closely watch financial market. Some financial institutes and firms recruit candidates who complete ground-level training in sales and marketing. This enables the aspirants to develop accounts with clients and obtain the necessary training to work as financial planners.
It is observed that many candidates are not aware of financial planning career of financial services, which provides advice to high-net-worth individuals and usually small to medium-sized companies about their finances.