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If you're really good with money and accounting, you might consider pursuing a career as a financial planner. In this career, you might help individuals to figure out what to do with their money and how to invest their income, or you may help companies maximize their profit and return potential. Therefore, understanding how investments work and the ability to discern the good options from all of the information you’re given is an important criteria for working in this field.
Financial Planner – Job Description and Duties
The actual work aspects of the job will be different for every financial planner – no two planners are going to have exactly the same clients with exactly the same needs. You could be dealing with blockbuster investors who are looking for the next big idea to sink their money into, or you could find yourself working with a middle-aged couple looking for a secure way to invest their earnings to guarantee a safe return for their retirement. |
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As a financial planner, you've got to be able to diversify your options and provide people with the information that works best for them and most closely matches their needs.
One of the most difficult parts of the job is evaluating the different investments available to your clients. You'll need to go through a company’s performance, as well as their projected earnings ratio versus their actual earnings ratio for the last quarter. You'll then take this information and lay it out in order to determine if the option is a good investment for your client or not. Is it high risk investment with potentially high returns, or is it low risk opportunity that will provide your clients safe and steady return for their money? You'll need to know the answer to this question in order to help your clients decide which options are best for their financial situation.
Generally speaking, you'll work from either a home office or an outside office, depending on whether you work for yourself or with an established investment firm. You'll spend a lot of time in your office doing research and planning to help manage your client’s investment options. Most of your time in the office will be spent inquiring into different investment opportunities and trying to lay out a plan that you think your client will like and accept. You'll also schedule meetings with new clients to go over your proposed financial plans and with established clients who need to update or revise their plans.
You'll need to be very familiar with different investment vehicles – some planners recommend stock market purchases, while others opt for bonds or guaranteed annuities for their clients. You'll have to decide which items – or combination of options – will work best for your client’s monetary needs, which can take many hours of planning, phone calls, and research. However, many planners will then take their information and travel to the person’s home or business, so you will have the opportunity to get out of your office chair every once in a while.
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