CERTIFIED FINANCIAL PLANNER^TM Career At-a-Glance

Are you looking to advance your career by getting your CFP® certification or are you trying to break into the financial planning industry? If you are looking for more information about the profession, you are in the right place. Learn more about what the day-to-day of a financial planning professional is like, as well as expected job growth over the next decade below.

What Does a CERTIFIED FINANCIAL PLANNER™ Do?

Financial advisors and CFP^® professionals help clients with investment decisions, taxes, and selecting insurance policies and retirement plans. While no two days will ever be the same, much of the job involves meeting with clients, analyzing financial information, and researching new opportunities. Typical job duties for financial advisors include:

• Meet with clients to discuss and set financial and investment goals

• Explain the kinds of financial services and investments they provide to clients

• Assess clients’ financial health by examining assets, liabilities, income, taxes, investment, and estate plans

• Help clients plan financially for specific events like college or retirement

• Monitor accounts and recommend or select investments for clients

• Research new investment opportunities

• Leverage AI tools to save time and enhance client services

Important Skill Sets for a CERTIFIED FINANCIAL PLANNER™

CFP^® professionals are often thought of as number crunchers, but the reality is that they need to have strong relationship and communication skills to successfully attract and retain clients. Some important skills for CFP^® professionals include:

• Communication Skills: While number crunching is important, a financial advisor needs to be able to communicate and present their knowledge and recommendations to clients in meetings, writing, and over the phone.

• Sales and Marketing: Financial planners need to be able to market their skills and knowledge to potential clients. It is important for advisors to have the ability to convey how financial advising can benefit their clients’ long-term financial needs.

• Relationship Management: Being a financial planner involves a great deal of listening and asking the right questions. It is also important for financial advisors to understand the emotions behind decision-making and work to educate and counsel clients effectively.

• Self-Motivation: To succeed in this industry, a financial advisor must take initiative, recognize opportunities, and continually follow up with prospective and current clients. There is a lot of competition in financial services and going above and beyond what is expected is the norm.

• Long-Term Thinking: To successfully maintain clients long-term, it is important to continually anticipate future situations and the needs of your clients.

Is CFP® certification right for you? Get a preview of our required education materials in this free download.

Job Outlook for Financial Planning Industry

According to the Bureau of Labor Statistics Occupational Outlook Handbook, employment of personal financial advisors is expected to grow 10 percent in the next ten years. Decreases in funds for corporate and state pensions are expected to contribute to the growth of the industry as more individuals will require financial planning.

Financial planners who obtain the CERTIFIED FINANCIAL PLANNER^™ certification will likely obtain the best job prospects over the next decade. A CFP Board study revealed that 83% of CFP^® professionals say they have a competitive edge over other financial advisors.

How Much Does A CERTIFIED FINANCIAL PLANNER™ Make?

According to the U.S Bureau of Labor Statistics, the median pay for Personal Financial Advisors is $102,140 or 49.11 per hour.

Advisors who work for financial investment firms or planning firms, or who are self-employed, generally charge their clients a percentage of the assets they manage. They may also charge an hourly fee or get fees for stock and online insurance policies purchased. In addition, advisors often get commissions for financial products sold.

How Do You Become a CERTIFIED FINANCIAL PLANNER™?

To become a CERTIFIED FINANCIAL PLANNER^™ , you must complete the required education, pass the certification exam, and meet the experience and ethics requirements. For more details, visit our How to Become a CFP® Professional article.

Looking for more information on CFP® certification?

The College for Financial Planning®—a Kaplan Company offers CFP^® certification education and exam prep review study solutions for the CFP^® exam. Check out our courses for CFP® certification or call 800.237.9990 Option 2 for more information.