What it takes to become successful as a financial planner

In today’s financial world, demand for the financial planners is growing at a rapid rate. The financial planners help you deal with diverse financial issues including investment planning, retirement planning, cash flow management, tax planning, insurance planning, risk management, estate planning, education funding and many more things. Even the role of a financial planner may include credit consolidation services and debt management advices.

Whatsoever, the role played by the financial planners is becoming increasing complex and an increasing number of individuals are coming to this profession. Here is the list of things required to become successful as a financial planner.

New business

One of the important things to become successful as a financial planner is to create a client base. This is highly important in this profession since referrals from the satisfied customers may create new business opportunities for the financial planners. You as a prospective financial planner need to put in constant endeavors to build up the client base. To bring in more clients you can deliver lectures, give seminars, explore your social contacts or can simply make cold calls. If you already have a well-established social network, you can explore it raise your client case.

Proper education

If you are desirous to pursue a career in financial planning, you should have a bachelor’s degree in business, mathematics, economics, finance, accounting or law. Apart from the requisite bachelor’s degree, if you have already pursued some courses in risk management, real estate, taxes and investment, then your career chances will automatically increase. In majority of the colleges and universities, various programs in financial planning are offered for the prospective candidates. Various certified programs such as Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP) and the Chartered Financial Consultant (ChFC) are also available for the interested candidates. Usually, you are not required to hold a license to work as a financial advisor. But if you sell various financial products such as insurance, mutual funds, stocks or bonds, you need to carry licenses such as Series 6, 7 or 23.


Opportunities for the financial advisors are plenty. Majority of the financial planners work in numerous finance and insurance firms. Banks, investment firms, brokerage houses and the commodity brokers are the major recruiters of the financial advisors. According to an estimate, 40% of the financial planners are self-employed – working in small capacity, especially in the urban areas.

Importantly, the demand for the financial advisors is increasing at a very rapid rate. As per the statistics, provided by the Bureau of Labor Statistics, the demand for the financial advisors and financial analysts, will grow by more than 27% by 2014. This may be because of the increasing levels of investment by the individuals and the businesses, rising number of citizens entering the retirement age and introduction of more and more retirement plans in the market.

Given the growing prospect, career of a financial planner is a good option. So, if you are interested, don’t look back, rather channelize all your efforts to make a successful career as a financial planner.

Samantha Spuckler is a writer for various finance related Communities. She is a financial writer by profession and has specialization in dealing with financial problems and its solutions. She is well equipped to write articles on debt consolidation, savings, planning, frugality, debt settlement etc.

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