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Financial planner career path australia

financial planner career path australia

What's to Like

Depending on the firm, a financial planner may enjoy a high degree of professional autonomy. The job should appeal to those who enjoy teaching, given that many of your clients will be unsophisticated financially and require education in the fundamentals of personal finance. The job also offers an opportunity to improve your clients' lives in a tangible way.

What's Not to Like

Financially unsophisticated clients often require much handholding from a financial planner, can have unrealistic expectations, and may blame the planner for their own failure to follow recommendations.

Planners may face conflicts of interest. For example, a financial planner in the employ of a securities brokerage firm may be pressured into recommending certain investment products that may not be entirely suitable for their clients.

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financial planner career path australia

He or she may have working relationships with financial advisors, investment managers and/or mutual fund companies, utilizing these specialists for the actual investment of their clients' funds. The job requires keeping current about developments in financial products, tax laws and strategies for personal financial management, particularly with respect to retirement plans and estates.

Success also requires sales ability, both in the acquisition of new clients and in the development of new ideas to improve the financial situation of existing clients.

Typical Schedule

The time commitment is highly variable, dependent on the type of practice you are in, your client load, and the effort you are putting into acquiring new clients. Thus, it can range from a part-time effort of under 40 hours per week to one that far exceeds 40 hours.

Give your career and motivation a boost by embarking on the road to success as a Financial Adviser – no matter if it’s as a Financial Planner, Financial Consultant, Investment Planner or Adviser – whatever you label it, we’re here to give you the tools to take care of business.

Exciting competition in the business world means that the market is broadly positive for people in Finance, with salaries rising as organisations compete for the best performers to help strengthen their businesses. If you have the relevant qualifications, becoming a CFP (Certified Financial Planner) can be a solid and profitable career move.

The graph shows historical and projected (to 2020) employment levels (thousands) for Financial Advisers.

Employment for CFPs has risen very strongly (in percentage terms) in the past five years, and the long-term (ten year) view is also very positive. In the future, employment for Financial Advisers to November 2020 is expected to grow very strongly.

Find Job Openings: Use this tool to find current job openings in the field.

Education

A bachelor's degree is the minimum educational attainment expected of a financial planner. Coursework in finance, accounting and/or economics is helpful, though not required. Strong quantitative and problem-solving skills are essential, but so are communications and sales skills. An MBA may make you an especially desirable job candidate, depending on the firm.

Certification

Legal requirements to function as a financial planner vary by state. Even in jurisdictions where it is not mandated by law, passing the exam to become a Certified Financial Planner (CFP) is highly advisable. The CFP designation increases your credibility and marketability, to potential employers and clients alike.

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