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For the majority of Americans, making decisions about their finances inspires feelings of panic or outright terror. Understanding issues surrounding emergency savings accounts, investments, mortgages, saving for a child's college education, or planning for retirement isn't easy, so it's not surprising that financial planners are in high demand. Search for great financial exam study tips here.
Financial planners help clients develop a plan for managing their money in a way that will best achieve specified financial goals. This type of financial career requires excellent communication skills, since talking about money is difficult for many people. You need to be able to determine what your client's priorities are before you can offer advice on how to best address issues of concern.
Many financial planners work for large companies, but this type of financial career is also a good choice for people who want to own their own business. Financial planners don't have a lot of overhead expenses, so sole proprietors can be very successful if they understand how to market their services properly.
To be successful as a financial planner, you will need to have either a bachelor's degree or a master's degree. In addition, most financial planners eventually opt to become a Certified Financial Planner (CFP). This certification is administered by the Financial Planning Association (FPA) and requires three years of work experience plus the successful completion of a knowledge exam. The certification must then be renewed every two years.
Financial careers come in many different forms, so it's helpful to spend some time thinking about what aspects of this industry interest you before you start job hunting. Choosing a career that fits well with your skills and talents is the best way to make sure you are happy with your professional life.
Commercial banking offers the most jobs within the financial industry. There are financial careers in commercial banking available for people with every possible level of education. While the bank president is likely to have an MBA and many years of experience, tellers can find jobs with a high school diploma and get on-the-job training.
The insurance industry is a trillion dollar business. People will always need auto insurance, health insurance, life insurance, and property insurance, so insurance jobs are great for people who are seeking stability. Although a number of positions in the insurance industry involve sales or customer service, there are also jobs for underwriters, asset managers, and actuaries.
Real estate financial careers involve everything from mortgage banking and property management to real estate development and real estate appraisals. For the average family, the home is the family's greatest asset. However, real estate also includes opportunities for purchasing businesses and investment property. In fact, real estate is responsible for over 1/3 of the wealth in the United States.
Other areas of the finance industry to consider include investment banking, financial planning, hedge funds, and corporate finance. You can learn more about these types of job opportunities by taking advantage of the resources available at your college's career development office. The career development office can provide opportunities for job shadowing and internships.
Last Updated: 03/25/2013
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