For many, navigating personal finances feels like uncharted territory. Constantly shifting regulations, emerging investment options, and lingering debts leave many Americans striving for financial freedom but unsure how to achieve it.
With 71% of Americans citing money as a major source of stress, the demand for professionals who can guide others toward financial stability is on the rise.
Financial planners meet this need by partnering with individuals to chart a clear financial path and help them reach both short- and long-term goals. For those interested in the financial sector, this career offers a meaningful way to assist others while also building a rewarding professional future.
Financial planners play an integral role in money management, from large corporations to individual households. They help people to refine their financial goals and determine the steps to reach them. Here are the three main facets of what a financial planner does:
Financial planners help their clients understand their current economic situation and outline their long-term goals. To do this, they gather data on a client’s financial history and present income. Upon assessing assets, they then create and analyze plans to improve their clients’ financial situations.
A financial planner’s role involves creating and implementing financial plans for clients. They work with clients to prioritize their financial goals and create actionable, sustainable plans to achieve them. This includes building realistic budgets, optimizing savings, and making informed investment decisions that align with the client’s life stage and values.
Financial planners help clients adjust their budgets through regular reviews, advising them to prioritize funds where most needed. Financial planners also stay up-to-date with tax requirements and any changes in financial technology, always working with the most current information to maximize their clients’ financial well-being.
Financial planners enjoy a broad scope of employment across industries. Some examples of where financial planners can build careers include:
Investment Firms: Helping clients invest their money wisely and stay on track with their long-term goals.
Banks: Financial planners can work in banks to organize the bank’s finances and inform bank patrons on the best possible decisions for their money.
Insurance Companies: Financial planners work for insurance companies to assess their monetary needs and to educate their clients on their coverage and what fees they’re responsible for.
Government Agencies: Financial planners help government agencies maximize taxpayer dollars, from determining budgets to advising on investments. Through their expertise, they ensure projects are completed efficiently and affordably.
Independent Firms or Self-Employed: Financial planners can also open their agencies and work in independent firms. In these cases, financial professionals have more freedom over their client base and set their rates.
While the time it takes to become a certified financial planner may vary from person to person, the general steps necessary to pursue this career are the same:
Becoming a certified financial planner allows you to help people steward their finances well. Your expertise will give others confidence in their financial decisions, providing the invaluable gift of financial literacy and, above all, peace of mind.
At the University of Dallas College of Business, our Master of Science in Financial Planning program prepares you for a fulfilling career as a certified financial planner. With CFP preparation strategically woven into the curriculum, students emerge ready to sit for the Certified Financial Planner (CFP) exam upon graduation.
The ethical considerations of finance are central to our curriculum, as training competent and virtuous leaders in the financial sector forms the most holistic and effective employees.
To learn more about our human-centered approach to business education, download our guide, Cultivating Ethical Leadership: A Guide to the UDallas College of Business
You can also schedule a meeting with your dedicated admissions counselor to discuss your goals.