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How To Become A Financial Planner

Updated on September 24, 2013


Financial planning has become one of the most lucrative and popular businesses in the new century.  In the economic era, people are seeking advice on sound financial decisions and investments. Since no one wants to take chances with their money, many are turning to professional help, the financial planners. When faced with serious financial decisions, or when one finds themselves in a financial crisis, they often turn to a financial planner. The financial planner mainly, assists clients to find the proper path with regard to sound financial decisions by creating and formulating a plan for life changes that lead to a healthy financial life. The business of financial planning is very rewarding both extrinsically and intrinsically. As a financial planner, you are able to use your skills to help clients develop a proper financial plan that ensures that they are able to deal with any major changes in their life such as retirement, injury, medical bills or even retrenchment.  After working with the client, they should be able to make proper financial goals and financial decisions with regard to their present and future financial status. It is important to note that many clients visit a financial planner when they find they have a cash flow problem, therefore you may find it necessary to make emergency repair financial plans. the financial planning business is not only lucrative but is also fast becoming a necessity among people in the society today. As the global economic situation takes a turn for the worse, more and more people are turning to financial planners for advice on how to deal with the looming financial crisis.

The most important step when planning to become a financial planner, is to ensure that you gain the necessary academic qualifications. It is necessary to remember that people are not willing to hand over their finances and hard earned money to someone who does not seem to be educated in the financial field. You will find that it is not only necessary to have a degree either in business or financial management but also to get a CPA certification. Ensure that your academic references check out and are of high standards. People are more willing to hand over their finances and money to someone who has not only attained high standards of education but also high accolades and grades. It may also be important to ensure that whatever college or university you choose to attend is highly recognized and recommended. The idea is to create an atmosphere and environment where clients feel that their money is being handled by a professional and knowledgeable person. Since they may not know you personally, you need to ensure that your academic qualifications speak for you.

There is need to ensure that you get the necessary licenses to begin your career or business as a financial planner. Even though you have the necessary academic qualifications and skills to become a financial planner, you cannot become one legally until you are registered. In order to expand the possibilities of your career and business by giving you room to diversify to different financial planning fields, it is normally advisable to register as a Registered Investment Advisor. Registration is necessary to avoid problems with the law such as fraud and embezzlement. It is important that you not only understand the rules and regulations under which you operate but that you also protect your clients from future problems. Today, many people have been educated and it is rare you find even one client handing over their financial and personal information to someone without checking the feasibility of their operating license. Therefore to protect yourself and your clients, it is important to ensure that you obtain the necessary licenses. In addition, you must understand that the required licenses vary from one state to another, therefore take the time to understand the operating rules in the state you wish to base your career or business.


Furthermore, it is important to test and gain some experience with your skills. remember that your resume not only consists of the academic qualifications but also the relevant experiences. No matter how high your grades are, or how many degrees you have acquired, people are more likely to trust the experience you have gained more. You can pick up an apprenticeship with a mentor or volunteer with a renowned organization. The exposure will ensure that the skills you develop are practical and can be measured. In this way, you will gain the experience that will ensure you do not mess up your clients financially. If you wish to own your own financial planning business, it may be advisable to work for some while with another financial planner. This way you will be able to understand the challenges and benefits of running your own financial planning businesses and how you can overcome them without inconveniencing clients and loosing good business.

Ensure that you conduct a considerable amount of research on financial planning. This is just to ensure that the career you choose is fit for your talent and skills. financial planning requires a lot of commitment, therefore it is important to read on the experiences, requirements and some of the challenges that you may experience. also begin by creating your own financial plan, after all if you are not financially stable people are not likely to hand over their financial issues to you. Formulate a workable plan for yourself, implement it and build a financially healthy life for yourself before trying to do the same for others. You can also formulate workable plans for your family and friends; this will work as a good experience for you.


As a financial planner you must be aware of the changing laws and regulations with regard to investment, expenditure and other important issued including retirement. This is to ensure that your dealings are always within the law and that your clients are protected.  You must develop your budgeting and accounting skills to perfection in order to be effective as a financial planner.


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