Financial Planner Career

List of Top 4 Careers in Financial Planner

Career List in Financial Planner: Some of the roles as a financial planner that a person can reach in his career is listed as below:

  1. Budget Analyst
  2. Insurance Underwriters
  3. Financial Analyst
  4. Agent for Securities, Commodities and Other Financial Services
Financial Planner Career

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Overview of Financial Planner Career

  • A financial planner helps individuals or companies in making informed decisions regarding money management. A financial planner assesses the financial position of the concerned person, understand their requirements and goals, and then on the basis of that, make the recommendations about how to fulfill those requirements in the best possible manner.
  • Different financial planningFinancial PlanningFinancial planning is a structured approach to understanding your current and future financial goals and then taking the necessary measures to accomplish them. Because this does not begin and end in a specific time frame, it is referred to as an ongoing process.read more might have different backgrounds. Some might provide different types of general services, some might concentrate on the particular client type, and the others might focus on some particular areas like tax law, etc.
  • Financial planners spend their days attending the meeting with their prospective clients and implementing the solutions of these new clients, along with reviewing plans of the existing clients.
  • The financial planner requires a high degree of skills set which includes ability and confidence in communicating with a different large number of people, ability to simplify the complex ideas, aptitude for the sales and marketing, comfortableness with the numbers along with the ability to analyze them, ability to building strong relationships with the clients, etc.
  • Hence financial planner plays one of the most important roles in managing the funds of its client in the right direction.

Career #1 – Budget Analyst

Who is the Budget Analyst?

A budget analyst is a person who has been employed by private and public institutions for organizing their finances by preparing the different budget reports and then monitor the spending of these institutions.

Budget Analyst – Job Description
ResponsibilitiesDevelop the budget by working with project and program managers and reviewing the budget proposals of managers. Recommend the others for the funding requests and help the heads of the organization in analyzing the proposed plans. Monitoring the spending of the organization and informing the status of the project or program managers.
DesignationBudget Analyst
Actual RoleHe will prepare the budget and monitor the spending for ensuring that the same is within the budget limits. Estimation of the organization’s financial needs for the future.
Job StatisticsAs per the bureau of labor statistics of us available www.bls.gov in 2016 the numbers of jobs were 58,400 in this category which is expected to grow by 7% from 2016 to 2026.
Top CompaniesIvy Exec, the MIL Corporation, Department of Army, Deloitte.
SalaryThe median pay per year in 2018 for a budget analyst was $ 76,220 per year and $36.65 per hour as per bureau of labor statistics of us available at www.bls.gov
Demand & SupplyThere is a good demand for budget analysts which will continue in the future as well. It is an analytical job requiring analytical, communication, number, and writing skills. During the budget cutbacks period, demand for budget analysts remains high.
Education RequirementA bachelor’s degree or CFA or MBA or master’s degree in the field of accounting, finance or related areas from a reputed college.
Recommended CoursesCFA/ MBA / Master in the field of accounting, finance or related areas.
PositivesHigh average earnings, multiple options of job available in different areas, the stability of a job.
NegativesLong working hours for meeting the targets leading to a high level of stress. Traveling will be required for getting the firsthand detail for a budget.

Career #2 – Insurance Underwriters

Who is the Insurance Underwriters?

The insurance Underwriter is the one who decides whether the insurance is to be provided or not and if yes, then under what terms it should be given. They determine the insurance coverage amounts and premiums.

Insurance Underwriters – Job Description
ResponsibilitiesThey are responsible for analyzing the information provided on the insurance applications, determining the risk which is present for ensuring the clients, evaluate and provide a recommendation on the basis of underwriting software, field representative and medical personnel for gathering the information, determining the appropriate insurance coverage amounts and the premiums.
DesignationInsurance Underwriters
Actual RoleHe will analyze the client’s information and history on the basis of different parameters and decide whether it would be suitable to provide insurance or not and terms and conditions with respect to the same.
Job StatisticsAs per the bureau of labor statistics of us available www.bls.gov in 2016 the numbers of jobs were 104,100 in this category which is expected to decline by 5% from 2016 to 2026.
Top CompaniesGlobal Benefits Group, Ivy Exec, Friedman Associates Insurance, Prudential.
SalaryThe median pay per year in 2018 for an Insurance Underwriter was $ 69,380 per year and $33.36 per hour as per bureau of labor statistics of us available at www.bls.gov
Demand & SupplyThe demand is expected to decline in the future years. The reason for the same is the use of automated underwriting software which allows the persons to process the applications in a faster manner. However, still, they will be required for monitoring the automated process and for working in complex fields like marine insurance, etc.
Education RequirementA bachelor’s degree or master’s degree in the field of accounting, finance, or administration-related areas from a reputed college.
Recommended CoursesMBA / associate in personal insurance/ associate in commercial underwriting /chartered property and casualty underwriter certification.
PositivesHigh average earnings, several specialization options, variety of work in day-to-day working.
NegativesDeclining the job growth rate, pressure for avoiding too much of the risk.

Career #3 – Financial Analyst

Who is the Financial Analyst?

A financial Analyst is the one who provides guidance to the persons who are required to make the decisions with respect to the investment.

Financial Analyst – Job Description
ResponsibilitiesThey are responsible for analyzing the current and historical financial data; examine the financial position of the company by analyzing its financial statements, studying the business and economic trends and providing the recommendations on the basis of the same, identifying investment trends, and giving the recommendation of investments.
DesignationFinancial Analyst
Actual RoleEvaluating the investment opportunities for new and existing organizations, manage the finances, identifying investment trends, and delivering new services and products to the clients as per their requirements.
Job StatisticsAs per the bureau of labor statistics of us available www.bls.gov in 2016 the numbers of jobs were 296,100 in this category which is expected to grow at 11% from 2016 to 2026.
Top CompaniesTradeweb Inc, ManTech International, the MIL Corporation.
SalaryThe median pay per year in 2018 for an insurance underwriter was $ 85,660 per year and $41.18 per hour as per bureau of labor statistics of us available at www.bls.gov
Demand & SupplyThe demand is expected to grow at a faster pace in the future years, more than an average of all the occupations due to an increasing range of financial products.
Education RequirementA bachelor’s degree or master’s degree in the field of accounting, finance, or administration-related areas from a reputed college.
Recommended CoursesCFA/CPA/MBA
PositivesGrowth of jobs at a faster pace, high average earnings, working with highly important data.
NegativesThe stress of work, attention to even minute detail is required, long working hours with a high level of responsibilities.

Career #4 – Agent for Securities, Commodities and Other Financial Services

Who is the Agent for Securities, Commodities, and Other Financial Services?

Agent for securities, commodities and other financial services is the one who connects the sellers and buyers in the financial market.

Agent for Securities – Job Description
ResponsibilitiesThey are responsible for buying and selling securities like stocks and commodities like oil. They monitor the financial market and performance of securities and commodities. They provide financial planning services by providing information to the clients about the performance of securities where they can invest in order to get good returns.
DesignationSecurities, commodities, and other financial services Agent.
Actual RoleMonitoring the financial market and performance of securities and commodities and providing a recommendation to the clients about the performance of securities where they can invest in order to get good returns. Also, they analyze the finances of the company for providing recommendations for the public offering and acquisitions, etc.
Job StatisticsAs per the bureau of labor statistics of us available www.bls.gov in 2016 the numbers of jobs were 375,700 in this category which is expected to grow by 6% from 2016 to 2026.
Top CompaniesIvy Exec, GQR global markets, Union Bank of California.
SalaryThe median pay per year in 2018 for an insurance underwriter was $ 64,120 per year and $30.83 per hour as per bureau of labor statistics of us available at www.bls.gov
Demand & SupplyThe demand is expected to grow at 6% from 2016 to 2026 which is as faster as the average of all the occupations. services of analyzing the finances of the company for providing recommendations for the public offering and acquisitions etc will be in demand for a continuous period.
Education RequirementA Bachelors Degree / MBA.
Recommended CoursesCFA/MBA
PositivesGrowth of jobs at a faster pace, high average earnings, different types of analysis of the security and commodity market.
NegativesThe intense competition of job as there is high pay; proper attention to even minute detail is required to judge the performance.

Recommended Articles

This has been a guide to Financial Planner Career. Here we provide the top 4 financial planner career lists,s including Budget Analyst, Insurance Underwriters, Financial Analyst, etc. You may also have a look at these career articles below.

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