Section 2.3 Young Adult and Family Finances 61
Careers in Human Services
What Does a Financial Planner Do?
Financial planners help clients assess their financial affairs
and develop a plan to meet their financial goals for the future. They
advise clients on investing, insurance, taxes, retirement, and estate
planning. Financial planners typically:
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and
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overall financial plan for each client.
What Is It Like to Work as a Financial Planner?
Normally, financial planners work with individuals and families.
They may do this in a private practice or through an investment firm,
bank, or financial service firm. On-the-job training is an advantage
of working for a bank or investment firm. Employers often pay fees
for the courses required for financial planners.
Basically, financial planners are salespersons selling financial
advice and services. Like most selling jobs, earnings depend on
how well they sell. In a bad economy, income may be low. However,
a financial planner who manages to form long-term relationships
with clients can usually establish a reliable income flow.
Financial planners may be paid an hourly fee, a flat fee based
on the value of the assets managed, or a commission on securities
they sell to clients.
What Education and Skills Are Needed to Be a
Financial Planner?
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Examination Series 7 and any additional exams required by
individual states
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Commission
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Standards
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related field
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