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What Do Financial Planners Do?

Job Descriptions September 30, 2013

Financial planners are planners, but the term “finance” covers various strategies and disciplines. You will be helping others to manage their finances for the long-term future, so that they can reach their economic wants and needs. This makes financial planning a long-term process, as opposed to a single strategy. As a financial helper of sorts, your job might be to help someone to reach their goals related to retirement or analysis.

Job Duties and Strategies

The actual job, following the goal establishment and client introduction stage, will involve gathering the data, analyzing patterns and trends, and then recommending courses of actions. Provided that the client will work with you on these changes, you may have to implement the changes and devise realistic strategies, which you can easily monitor along the way. Following the entire formula is a sign of a good planner, as many professionals skip the first few steps, and simply provide generic advice.

This is intrinsic to problems within the career path itself, as many financial planners cannot truly define what they do, or what makes them competitive when compared to others in the field. So consumer education is prime.

Specialists are the ones who thrive in financial planning because they know exactly what they do, the niches that matter, and what type of client they are looking for. Your job may consist of working on aspects of finance like maintaining or increasing cash flow, not to mention debt reduction. However, much of the process is goal oriented.

Going Beyond the Norm in a Unique Career Field

Not many people realize that financial planners ask for some personal details of your life, specifically a household’s family goal. Discerning wants, needs, and priorities of such events are essential. From there, you, as the professional, will put a plan together of budgeting, investment funding, tax and debt, and protection for unforeseen events. It’s not merely one plan or coping strategy but a mix of them, whatever it takes to help the client reach those elusive goals.

Markets change and do an adaptive philosophy is vital to success. You will review your client’s plan every year, making sure nothing is occurring to alter the otherwise effective plan based on economy, trends or tax law updates. The good news is that this scenario makes it advantageous for clients to keep financial planners on every year, working with them on an ongoing basis.

In order to get started in this career field, certification is recommended, by that of the American Certified Financial Planner of Board of standards, as well as the Financial Planning Standards Council in Canada and the international Financial Planning Standards Board.

This is a wonderful career if you enjoy helping people—individuals, as opposed to large companies—who will very much appreciate your efforts to transform their life into a happier existence, a more promising future. Debt is not merely an inconvenience. It is a life-crusher and as demoralizing as a disease. Your help can go a long way towards improving the quality of life for your fellow man.

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Matching School Ads
1 Program(s) Found
  • Enhance organizational performance and create effective traditional and virtual teams through motivation, organizational culture, and change management.
  • Address the legal and ethical implications of human resources and administration in an organizational setting.
  • Analyze business policy and strategy in relationship to competitors.
  • Resolve conflict by utilizing various management styles and best practices.
  • Understand employment and compensation requirements including insurance, salary, labor, health, and safety.
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Ranked among top Regional Universities in the South by U.S. News and World Report in 2015.
  • Ranked 37th among the Best Colleges for Veterans by U.S. News and World Report in 2015.
  • Stands as the largest private, nonprofit university in the nation with 100,000+ students.
  • Offers over 230 programs online, from the certificate to the doctoral level.
  • Has a student-faculty ratio of 25:1, and 42.3% of its classes have fewer than 20 students.
Show more [+]
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Available business concentrations include Accounting, Economics, General Management, Marketing, and Human Resource Management.
  • Ranked among the Best Online MBA and Online Graduate Business Programs in 2016 by U.S. News & World Report.
  • Programmatic accreditation provided by the Accreditation Council for Business Schools and Programs (ACBSP).
  • Regionally accredited by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC).
  • Online Courses
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  • Average class size is 25, allowing for more one-on-one time with instructors.
  • Has a 97% employment rate among available graduates.
  • All  graduates receive Lifetime Employment  Assistance—free and forever.
  • Michigan's largest independent college.
  • Most instructors are working professionals in the fields they teach.
  • Programs are continuously updated to ensure classes are career-relevant and in sync with what's needed in the industry
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  • Accredited
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