Financial Advisor
– How to work at home as a Financial Advisor
May 3rd, 2006
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Professional
Advisor |
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Working at home is
a dream job for many people. One career that allows you the opportunity
to be self-employed and work at home is to become a personal financial
advisor. According the Bureau of Labor Statistics, 4 out of 10 personal
financial advisors are self-employed. The Bureau of Labor also said
that the median average income for a personal financial advisor in May
of 2004 was $62,700.
Successful
personal financial advisors are college graduates that have good
communication and people skills. Many organizations for financial
planners exist. They can help you with getting a certification to help
market your services. Becoming a Certified Financial Planner (CFP) will
add confidence for your client base and will ensure that you are
knowledgeable about investing. The CFP certification is an in-depth
process that maintains the professionalism of the financial planning
industry.
You need to find
out if a college or university is listed with the Certified Financial
Planner Board of Standards (CFP Board). You will need to become
educated with those specified schools that offer a financial planning
program. Once you complete the education you are ready to take the CFP
exam.
The CFP
examination is a two day, 10 hour test. The test includes tax planning,
financial planning process, employee benefits, retirement planning,
estate planning, investment management and insurance.
You will need to
have three years experience working in the financial planning and
counseling people in order to gain the CFP title. You will also need to
pass an ethics review and agree to abide by the CFP boards rules.
Once you gain the
CFP certification you will need to re-certify every 2 years. You are
required to attend 30 hours of financial planning continuing education
to keep updated in the industry. The CFP organization also expects 2 of
these hours to be learning about the CFP Board's Code of Ethics and
Professional Responsibility or Financial Planning Practice Standards.
Online
universities have financial planning course available so you can work on
a degree with financial planning while you work. Kaplan University is
just one of many online schools that offer a financial planning
program. Make sure the university is an accredited school. Without
accreditations your degree may be worthless.
Without certification it would be
difficult to build a successful financial planning business.
Nicole Wilson
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