ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

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.

Comments

Submit a Comment

No comments yet.

working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)