By: The Sider Group
Submitted: 2010-10-18 00:52:01 | Word Count: 423
Once you know how to become a financial planner, the rest is up to you, but with this information in hand you can confidently make a decision as to whether this career is right for you. Financial planning careers are in demand right now because people are realizing the importance of saving, budgeting, making wise investments and preparing for the future.
The first step to become a financial planner or advisor is to take the required exams, but most people start preparing for this career long before they decide to start studying for the exams. Most financial planners and advisors have at least a bachelor’s degree from an accredited institution, usually in accounting, business or a similar field. A master’s degree is not required, but it also doesn’t hurt—especially when building credibility with clients. Once you’re ready to take the exams you will probably want to find a broker or dealer who is willing to sponsor you to take the exams, but you can also do it on your own.
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If you want to become a financial advisor you will need to take and pass the Series 7 Stockbroker’s Exam and Series 66 Uniform Combined State Law Exam with at least a 70 percent passing score. If you do not get the grades to pass, you can take the exams again after a 30-day waiting period. Once you pass, then the specific training in your field will begin. If you are sponsored by a broker or dealer you will be required to take sales and product training courses to learn about the specific investment products that you will be offering. Depending on the brokerage in question, your training may last anywhere from 17 days to three years.
Once you begin working as a financial planner/advisor you will probably work long hours at first, but once your book of clients is created you can move to a 40-hour work week. The hard work and determination will pay off in the end, though. Personal financial planners and Certified Financial Advisors may start out making only $41,000 per year, but their salaries reach as high as $90,000 with success and experience.
Institutions offering quality Accounting Programs include University of Phoenix, Strayer University, DeVry University, Brown Mackie College and Everest College.
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