Financial Planner Job Description

Financial planners help individuals and groups plan the use of their savings, income, and investments. Some are self-employed consultants who offer workshops that teach people how to analyze their own financial situations. Other financial planners operate financial planning businesses or are employed by insurance companies and financial institutions—savings and loan companies, investment services companies, and banks—to sell their company's financial products. Such products might include family budgeting schemes, mutual funds, individual retirement accounts (IRAs), insurance, real estate, or tax-sheltered investment plans.

Financial planners help individuals examine their immediate and long-term financial situations. The job of the financial planner is to help each investor decide what kinds of investments are best. They advise people on what types of investments to put their money in as well as the timing of major expenditures, such as buying a house or starting retirement.

In order to be effective, financial planners must be familiar with legal restrictions and laws concerning retirement plans, tax shelters, insurance, and trusts. They must be skilled at working with numbers and budgets and be able to understand complicated financial and legal documents. In addition, they should be articulate, persuasive, and have sales ability to build a clientele. Financial planners are also sometimes called personal financial analysts, personal financial advisers, or financial consultants.

Read more: Financial Planner Job Description, Career as a Financial Planner, Salary, Employment - Definition and Nature of the Work, Education and Training Requirements, Getting the Job - StateUniversity.com http://careers.stateuniversity.com/pages/211/Financial-Planner.html#ixzz1ge7pXE6I

Financial Planner Salary Information

There are three main profiles of financial planners and they are personal financial planners, financial analysts and wealth managers.

Personal Financial Planners
Most personal financial planners specialize in retirement planning as well as investment in securities for individuals. In addition, most personal financial planners sell life insurance and other insurance covers too and their income comes from commissions based on the earnings they make for their clients. For those working for a firm, a fixed salary plus commissions depending upon the amount of profits they make for their clients is the way the pay package works.

Financial Analyst
For big companies, investment planners are consulted regarding investment in various securities and financial analysts must study company performance in various sectors and help in making high volume investments for companies.

Wealth Managers
Working for wealthy individuals as their main job, wealth managers do the background study of any new investments that these people plan to make.

A MBA degree in finance and come from a commerce background is what most financial planners have and, in addition, financial planners need to be good at handling and convincing people. They also have to be experts in number crunching and their knowledge of various sectors of industry, investments and tax laws needs to be in depth.

Personal Financial Planner Salary Range Based on Experience
One of the top 10 highest salaries in the USA, the financial planner salary range is very high. Here’s a table based on market data collected by various employment research firms in the USA, that will give you an idea about average personal financial planner salary range.

Work Experience (in years)	Median Salary Range (in $)
0 – 1	30,000 to 44,000
1 – 4	30,000 to 52,000
5 – 9	43,000 to 90,000
10 – 19	48,000 to 100,000
20+	56,000 to 152,000

This is a business that works on creating and maintaining new contacts and one can get an idea about the average starting financial planner salary from the figures above. The financial planner salary at the trainee level starts around $30,000 or less and as one gains experience and establishes a big client base, the personal financial planner salary can reach up to $100,000 to $200,000.

Associate Financial Planner Salary Range Based on Experience
Working with investment firms, associate financial planners generally deal in all kinds of securities and the following are some numbers denoting associate financial planner salary range in the United States, based on years of experience.

Work Experience (in years)	Median Salary Range (in $)
0 – 1	30,000 to 42,000
1 – 4	35,000 to 49,000
5 – 9	36,000 to 58,000
10 -19	37,000 to 60,000
20+	44,000 to 69,000

There is an added responsibility now in a period of recession and being a financial planner is a very responsible and burdensome job since, after all, people risk losing their life’s earnings if your decisions go awry. So with the ever rising financial planner salary, comes more responsibility and we hope this article has given you a clear idea about the expected financial planner salary range.

Article Source: http://www.financialplannersalary.org/