Localize Your School Search
Degrees and Schools
There are plenty of colleges and universities which offer programs in finance, accounting, business, mathematics, law and economics. Some colleges and universities provide certificate, undergraduate and graduate degree and graduate certificate programs in financial planning and related subjects.
Classes
Some of the subjects studied are shown below:
- Risk management
- Investments
- Taxes
- Estate planning
- Finance
- Financial management
- Marketing
Online Classes and Programs
Many schools offer online programs in finance, accounting, business, mathematics, law and economics. There are also a lot of schools that offer online certificate, undergraduate and graduate degree and graduate certificate programs in financial planning and related subjects.
Prospective online students should look for schools which have received accreditation from agencies approved by the United States Department of Education or the Council for Higher Education.
Employment Requirements
Many individuals enter the occupation by working for full-service brokerages or banks. They can enhance their credibility by obtaining a college degree and certification.
Although certifications are not always necessary, certification is recommended by many employers. The Certified Financial Planner (CFP) credential is provided by the Certified Financial Planner Board of Standards, Inc. To obtain the credential, an individual is required to have three years of relevant experience, complete the education requirements which includes a bachelor's degree, passing an examination and following a code of ethics.
Personal financial advisors usually have a bachelor's or a master's degree. They typically earn a degree in finance, accounting, business, mathematics, law or economics. Some colleges and universities offer financial planning education programs.
Many personal financial advisors have a license which allows them to directly buy and sell products including stocks, bonds, annuities, derivatives and insurance products.
Many personal financial advisors are self-employed. Some of them work for financial institutions.
How to Evaluate Schools and Programs
While evaluating schools, prospective students should consider getting answers to the following questions:
- School's Reputation - Does the school have a good reputation?
- Training - Does the program include externships with financial institutions? Does the program offer a variety of externships?
- Curriculum - Can students specialize in their area of interest?
- Job Placement - Are job placement services available? Does the school provide job fairs?
- Financial Aid - What types of financial aid are available? Has the school been approved to provide federal financial aid?
- Accreditation - Is the school accredited by an agency which has been approved by the United States Department of Education or the Council for Higher Education?
Personal Financial Advisors Job Description
Personal financial advisors help their clients create retirement plans and select investments. They help clients establish short-term and long-term goals. They also develop a detailed plan for funding the education of their client's children. Personal financial advisors also help clients select insurance policies and they provide advice about tax laws. Some personal financial planners specialize in areas such as retirement planning or estate planning.
In general, personal financial advisors need to find their own clients. Personal financial planners often meet potential clients through social networking and by giving seminars. Building a customer base is a vital aspect of the occupation.
Some financial advisors earn money by charging hourly fees or from fees they collect on stock and insurance purchases. Personal financial advisors often receive commissions on the financial products they sell to clients in addition to charging a fee.
Some of their responsibilities are shown below:
- Learn about clients finances and objectives
- Help clients select appropriate investments
- Develop a thorough financial plan for clients
- Build a client base
- Set up consultations with clients
- Educate clients regarding risks
- Make adjustments to clients' financial plans
- Update clients on potential investments
Resources
- Certified Financial Planner Board of Standards, Inc
- Financial Planning Association
- The National Association of Personal Financial Advisors
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