Description:
Personal Financial Planner preparing financial plans for individuals. These financial plans often include cash flow management, retirement planning, financial risk management, insurance planning, tax planning, estate planning and business planning.
Responsibilities:
- Preparing sound financial plans to ensure clients meet their goals.
- Advice & recommendations based on current financial issues.
- Generating new business & building client relations.
Pros:
- Offering meaningful advise.
- Unlimited income potential.
- Work schedule flexibility.
- Creativity in practice structure.
- Continuous prospecting.
Cons:
- High stress industry.
- Requires a lot of willpower.
- Can be difficult to find clients.
- Takes a lot of working hours to get started.
Education:
- Grade 12 minimum.
- B.Com degree in any of the following fields will provide the necessary basic training:
– Accountancy.
– Business management.
– Business finance.
– Cost and management accountancy.
– Economics.
– Financial management.
– Investment management.
Professional Body:
FPI (Financial Planning Institute of Southern Africa).
The CFP (Certified Financial Planner) designation is controlled by the FPI, an affiliate member of the FPSB (Financial Planning Standards Board) based in the United States. The CFP certification is considered the highest recognised professional designation for a financial professional.
Advice to someone interested in pursuing a similar career:
Financial planners have a special area of expertise. Should you consider becoming a financial planner, there are some key points to keep in mind. The necessary education and skills are crucial. You also need the following qualities & skills:
- Have excellent analytical and communications skills.
- Able to work independently.
- Be comfortable with sales.
- Have great people skills.
Willing to participate in virtual one on one contact sessions with readers:
Yes. (Click here to request a contact session)
Post ID: #200006