Financial Planning
The need for financial planning, while always important, has grown tremendously over the past several years, particularly with the baby boomers’ threat to current savings practices. With this need comes the demand for those who have training in financial planning.
It is the job of financial planners and analysts help guide individuals and businesses when they need to make investment choices. Both analysts and planners conduct financial research, which is used to provide investment recommendations to their clients; however, they differ in the type of clientele they have and the information they provide.
Financial analysts evaluate the economic outlook of a variety of industries in which businesses may be interested in investing. Personal planners advise their individual clients, focusing on a broad range of personal investment areas, like helping with major life milestone goals – their child’s college tuition, retirement, etc.
The U.S. Bureau of Labor Statistics classified 176,000 employees as personal financial planners in 2006; this figure is expected to rise for two reasons: 1) demand is increasing and 2) it has become increasingly easier for individuals to gain the knowledge they need through online education.
Earning a certificate in financial planning online can be much more manageable than having to attend an on-campus university. You can learn statistics, investment, accounting, savings, and basic economics all from home. Over the last few years, banks, brokerage firms and insurance companies have broadened their services to include investment advice; banks that have become involved in brokerage and investment activities need qualified financial advisers to support their new clientele.
According to the BLS, the demand for personal financial planners in the next decade is likely to be above the average of all other occupations. As the population ages and people begin to plan for retirement, the increase in 401(K) investments and other individually managed retirement accounts will presumably persist.
Roughly four out of 10 financial planners are self-employed according to the Department of Labor. While certificate programs cannot guarantee specific salary figures, the median income for personal financial advisors in 2007 was approximately $68,000.
Tue, Jul 20, 2010
Careers without College, Online Education, Programs