If you have ever thought about becoming financial planner, then this articles is for you. You will learn all the important things of this job like how becoming a financial planner, where financial planners work, how much they get paid and a lot more.
This job is exciting and educational because you get a diverse clientele. You help people become more aware of their money management and constantly learn more about this field of study. This job is very rewarding! You can even manage your own finance to have a better life.
It really depends on your financial situation and your life stage, but in general, you do comprehensive financial plans for your clients to help them with finance. A comprehensive financial plan would include everything from financial management (cash flow, net worth statement), to an insurance review, examination of investments, tax planning, and retirement and estate planning. It could be very precise.
A financial planner's day will almost never be the same because they make their own clientele according to their specialization. They will sit at a desk all day long but will never manage the same case of financial planning.Their client's needs will vary the subject of discussion.
Financial planners work in very different place like banks, trust companies, investment firms and governments, or they may be self-employed.
You need to finish your cegep and obtain your bachelor degree of business administration (BBA) - Concentration in financial planning. You can do a Master but it is really not obligate to have it to start working in this field.
Financial planners made a median salary of $87,850 in 2019. The best-paid made approximately $154,480 per year that year, while the lowest-paid made $57,780. So, this job is good paid comparing at the average salary in Canada that is at $46 370 per year.
This field varies a lot, financial planner need to constantly be aware of the changes in the economy by reading some new article about it. Internships for students are also a good way to gain a learning experience and further your career.
Although there aren't a lot of dangers of being a financial planner, mistakes can still happen that can drastically impact a person's life. A worker could advise you to make a bad investment because this field is unpredictable. Also, a financial planner should be aware about money management because bad advice could put your client's life in jeopardy.
Personally, I think that the robots won't be able to replace financial planners because this job requires a human contact with the clients to insure success.Although the machines have a lot of advantages, they cannot provide this human side of business, therefore able to replace us.
According to various studies and publications about the age of retirement of financial advisors is somewhere between 51 and 55 years, with 38% expecting to retire in the next 10-years. 51 at 55 years old is really not old. We can conclude that if you save a little bit of money all long year of work, you can take your retirement at this age.
In order to reach my dream career, I need to learn more about it! I am currently searching for a program to start my semester at the university of HEC next year. I hope that this career summary helps you understand what a financial planner is and all the important information you need to know if you want to pursue this career.
Rationale: to inform or educate
Authority: research journal
Date: still relevant
Accuracy: probably true
Relevance: relevant for this document
Sources: cites sources
Rationale: to inform or educate
Authority: research journal
Date: still relevant
Accuracy: probably true
Relevance: relevant for this document
Sources: cites sources