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Should You Go For a Financial Planning Career?

A financial planning career deals with the management of financial investments and assets of a person. A financial planner helps the client choose from a wide array of insurance, investments and other financial services. Financial planning has a lot of branches.

There are retirement planners, estate planners and general investment analysis. There is also the scope of college funding. Financial planning is referred to by a lot of terms. These include personal financial consultant and financial advisor. However the term that truly describes this work is "Financial Products Sales".

How to Obtain New Business?

It is important to have good communication skills in the job because to be a success you need to have a good customer base. This is one of the prime things needed to be a successful financial planning career. This business thrives on referral. If you have a satisfied client, then he/she is likely to refer you to more potential clients.

You can also find clients through cold calling, business and social contacts and by giving lectures and seminars. So we see that a wide social network is a plus point to survive in this profession. This might be one of the chief reasons why successful financial advisors start working after being in a related field such as auditor, accountant, lawyer, insurance agent and commodities or securities agent.


If you want to join this field, you need to have a specialization degree in law, mathematics, business, economics, finance or accounting. If you have done some course on risk management, estate planning, taxes or investment, then you have an extra edge in making a financial planning career. But recently due to high demand of jobs in this field, special financial planning courses have also come up in various universities and colleges.

A personal financial advisor does not necessarily need a license. But if a financial planner is selling insurance, mutual funds, bonds or stocks, then he needs to be licensed under Series 6,7 or 63. These licenses can be obtained after due examinations. The Financial Industry Regulatory Authority (FINRA) conducts these exams.

If a financial planner wants to take these exams, then he has to be sponsored by a 'self regulatory' organization or member firm. Insurance and finance companies provide a good opportunity for employment for a financial planner but self employment is also a good option.

So if you think you love finance, have good communication skills and can sell anything to anybody, then you can definitely make a good financial planning career.