Did you know that jobs in financial planning are expected to grow by 13% between 2022 and 2032? This growing field offers countless opportunities for those passionate about helping individuals and businesses manage their finances.
Financial planners assist clients in budgeting, investing, and reaching long-term financial goals. If you’re just starting or aspiring to run your own firm, the career path is structured to help you build your skills step by step.
If you’re considering a future in financial planning, this is the perfect place to begin.
What Does a Financial Planner Do and How to Become One?
A Financial Planner helps clients manage their money, recommend investments, and plan for future goals like retirement. They educate clients about money management and often specialize in areas such as retirement, taxes, or debt management, to secure a stable financial future.
To become a Financial Planner, you must complete an accredited degree, like a Bachelor of Business (Financial Planning), which takes about three years.
Top Certifications for Financial Planning Professionals
Getting certified can help you have a strong career in financial planning. It shows you have good skills and can help you get better jobs. Here are three important certifications to think about:
Financial Advice Association of Australia (FAAA)
The FAAA is a professional organization in Australia that supports financial advisers. Joining this association can enhance your credibility as it shows you are committed to high standards in the financial planning industry. Membership often provides networking opportunities, access to industry updates, and professional development resources.
Certified Financial Planner (CFP)
The CFP designation is recognized globally as a top qualification for financial planners. It demonstrates expertise in areas like investment planning, tax strategies, and retirement planning. Having this certification can increase your chances of getting hired and build client trust because it shows you’ve met rigorous standards.
FP&A Certification
FP&A stands for Financial Planning and Analysis. This certification focuses on advanced skills in budgeting, forecasting, and analyzing business performance. It’s especially useful if you want to work in corporate finance rather than individual financial planning. It shows you can help companies manage finances strategically.
7 Financial Planning Career Possibilities
With the growing need for financial advice, it’s a great time to think about a career in financial planning. Financial planners help people manage their money and improve their financial health. If you’re interested in other roles within the financial services industry, there are many options to consider.
1. Financial Adviser
A financial adviser works with clients to help them make smart decisions about investments and savings. They usually have specific areas of expertise, like banking or money management. The average salary for a registered financial adviser is around $102,347.
2. Financial Planner
Financial planners help clients manage their money over time, focusing on things like retirement and saving for future goals. They are in high demand, especially in areas like retirement planning and ethical investments. A registered financial planner earns about $120,000 annually.
3. Superannuation Consultant
With many Australians relying on superannuation for their retirement, superannuation consultants are in demand. They guide clients on superannuation products and services. The average salary for a superannuation consultant is $60,000.
4. Risk Adviser
A risk adviser helps businesses manage financial risks by customizing insurance policies and identifying potential problems. This role is growing quickly, and the average salary is about $120,914.
5. Business Development Manager
Business development managers find new opportunities for organizations by strengthening client relationships and generating leads. They usually earn between $90,000 and $110,000 a year.
6. Insurance Adviser
Insurance advisers help clients choose the right life and health insurance. They explain the options, sell policies, and make sure clients have the right coverage. Insurance advisers in Australia earn between $70,000 and $90,000 a year.
7. Client Services Officer
Client services officers work closely with clients and financial advisors to manage insurance and investment policies, handle transactions, and provide customer service. The average salary is around $65,000.
If you’re considering a career in financial planning, there are many paths to choose from, each offering exciting opportunities to grow and make a difference.
A Career Full of Possibilities
Now is a great time to start a career in financial planning. Helping people save for retirement or make smart investment choices offers many paths in this field. A financial planning career brings both job security and growth. From becoming a financial adviser to owning your own business, there are plenty of ways to build your skills and make a difference.
Get your degree, gain experience, and think about getting certified. Roles like risk adviser, business development manager, and superannuation consultant offer many chances. If you’re ready to help others and build your future, don’t wait—take action now! In a world where financial security is important, your skills can make a real difference.
FAQs
Is financial planning a good career?
Yes, financial planning is a good career for those who enjoy helping others manage their money and plan for their future. With a growing demand for financial advice, this field offers job security and growth opportunities.
What is a financial consultant position?
A financial consultant position involves helping clients manage their finances, including advising on investments, savings, and retirement planning. Consultants provide expert advice and tailored strategies to help clients achieve their financial goals.
What does a financial planner trainee do?
A financial planner trainee assists experienced financial planners by learning the ins and outs of the industry. They gain experience in budgeting, investment strategies, and client relations while working toward becoming a fully licensed financial planner.
How to become a wealth planner?
To become a wealth planner, you need to complete an accredited degree in financial planning, gain professional experience, and earn certifications. Specialized knowledge in wealth management, tax planning, and investments will also help you succeed in this role.