A teaching all, or any portion, of the personal financial planning process.
Finally the applicant must agree to adhere to the CFP Code of Professional Conduct and submit to a background check. Any pending litigation must be disclosed.
The Financial Planner typically operates in four major areas: investment planning, estate planning, retirement planning and business succession planning. All of these areas are highly specialized and a planner may decide to specialize in one or more areas. Major firms will offer all of these services to clients, but the delivery method may vary by company. Firms such as Lincoln Financial Advisors, American Express Financial Services and AXA Advisors offer all of these services.
Another group of firms includes brokerage firms, also called wire houses, that may offer some or all of these services, but their primary aim is investment management. These companies include Merrill Lynch, Saloman Smith Barney, Goldman Sachs. They may call their personnel Financial Planners, but they tend to be focused on gathering money from clients to invest through the firm. Some of these firms may offer some of the specialized planning services for their high-dollar clients.
The most important thing for someone who is considering this profession is that it is primarily a sales position, particularly in the beginning of the planner's career. A person who is uncomfortable with the idea of sales will not be successful in this profession. New planners are expected to obtain clients, usually by pursuing their warm market of friends and associates. More experienced planners may assume other duties, particularly as his or her expertise increases.
Because the population is growing wealthier, the outlook for this career is...
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