Financial planning is the process of establishing financial goals and creating ways to reach them. Certified financial planners examine the assets of their clients and suggest what steps they need to take in the future to meet their goals. They take a broad approach to financial advice, which distinguishes them from other professional advisers, such as insurance agents, stockbrokers, accountants, attorneys, and real estate agents, each of whom typically focuses on only one aspect of a person's finances. Approximately 271,700 financi...
Minimum Education Level
There are several methods of compensation for financial planners, including:
- Fee-only, which means that compensation is earned entirely from fees from consultation, plan development, or investment management. These fees may be charged on an hourly or project basis, depending on clients' needs, or on a percentage of assets under management.
- Commission-only compensation, whi...
Most financial planners work by themselves in offices or at home. Others work in offices with other financial planners. Established financial planners usually work the same hours as others in the business community. Beginners who are seeking customers probably work longer hours. Many planners accommodate customers by meeting with them in the evenings and on weekends. They might spend a lot of t...
Employment for financial planners is expected to grow faster than the average for all careers through 2028, according to the U.S. Department of Labor. Strong employment growth is expected for a number of reasons. More funds should be available for investment, as the economy strengthens and personal income and inherited wealth grow. Demographics will also play a role; as increasing numbers of ba...