For financial planners, it is important to have a certain skill set, a bachelor's degree or higher and get certification in financial planning to be successful in the industry. It is highly recommended that individuals who are interested in pursuing a financial planning career have a bachelor’s degree or postgraduate degree.
Employers do not usually require a specific field of study for planners, but it helps to have experience in accounting, finance, economics, business or law. Advanced planners should also have a strong mathematical and analytical background. Interpersonal skills are also important so that a wide range of clients feel comfortable when discussing personal financial information.
Financial planners are not required to obtain certificates, but having the name “CFP” may be more attractive to potential employers and may allow you to get a higher salary. There are several steps to becoming a certified financial planner. To achieve CFP status, candidates must:
1. Have three years of relevant experience.
2. Meet education requirements (including bachelor’s degree)
3. Adhere to the code of ethics
4. Take the CFP exam, which includes topics such as financial planning, insurance and risk management, employee remuneration planning, taxes and retirement planning, and investment and real estate planning.
Students who wish to become financial planners can continue their studies and exam preparation using both traditional campus education and many accredited online schools. There are many Certified Financial Planner ™ certified educational programs to prepare people for the CFP exam. Online courses, in particular, must be completed at the request of students, and certification of a financial planner can be obtained in six months.
