What does a Financial Planner do?
A Financial Planner is employed for their expert financial knowledge and their experience with financial systems. Financial Planners work with clients, including individuals, businesses and organisations within both the public and private sphere, to develop long-term financial plans. Financial Planners develop financial portfolios for clients and provide specialised recommendations and knowledge that allows clients to better manage their money. Financial Planners assist their clients to create more savings or to produce more profitable financial dealings with other businesses.
Financial Planner skills and qualifications
A successful Financial Planner candidate will have various prerequisite skills and qualifications such as excellent mathematical and analytical skills and the ability to communicate well with their clients. They also need sound knowledge of the different financial tools that can be used to manage their client’s portfolios, such as different types of pensions or different tax relief schemes. Their key skills and qualifications typically include:
- Detailed knowledge of the requirements, restrictions and interest rates of different saving accounts
- Expertise investing funds into different portfolios in order to spread risk and generate growth
- Ability to communicate complex financial information to clients in an easy-to-understand manner
- Ability to produce detailed financial reports and provide analysis on them to clients
- Ability to spot opportunities for financial growth by identifying new tools or emerging trends in the market
- Knowledge of accounting platforms such as QuickBooks or Xero
- Proficiency working with computer software, particularly programs such as Microsoft Excel or Google Sheets
- Accounting skills and qualifications from recognised bodies such as the Association of Chartered Certified Accountants
Financial Planner experience requirements
Financial Planners require at least three years of experience working in a financial role. Experience providing customer service and financial advice is paramount to success as a Financial Planner. Although experience working as a Financial Planner is desirable, employers can consider candidates with experience working in related financial jobs or financial environments, such as accountancy, a retail bank or the finance department of a company.
Financial Planner education and training requirements
Financial Planners need an excellent academic background in mathematics, including GCSEs and A-levels in maths and statistics. Employers can look for applicants who have studied finance-related courses at university, including maths, business studies, economics or financial studies. Employers often offer successful candidates the opportunity to gain further training through industry recognised courses, including a Level 4 Qualification in Financial Advice.
Financial Planner salary expectations
According to Indeed Salaries, the average salary for a Financial Planner in the UK is £50,365 per year. Salary may depend on experience, education, location and company.
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