Career in Financial Planning Essay Example | Topics and Well Written Essays - 750 words

Career in Financial Planning - Essay Example To be able to deliver that effectively, the scope that requires thorough understanding is listed below. A good financial planner understands investments, taxes, estate planning issues and strategies. In order to acquire adequate expertise, financial planners must be familiar with legal restrictions and laws concerning retirement plans, tax shelters, insurance, and trusts. There are several journals and other reliable sources that provide details which planners need to be aware of; few of the sources have been listed in forth coming sections. In order to succeed in financial planning one not only needs to know the details of various investments, tax law, estate planning strategies, but also needs to be an active listener, good at marketing oneself, above average interpersonal skills with an analytical mind that can work with numbers and budges, understand complicated financial and legal documents. In addition, they should be articulate, persuasive, and have fairly decent selling ability. While associating myself in knowing the significant elements of financial world, I have also kept myself engaged in developing the required skills. 4. Target Clients - High Net worth Individuals are a Key Target A growth area in financial planning and money management is targeting the high net worth individual. PSI, a financial services consultant, estimates that over 4 million US households have a net worth in excess of $1 million, which is encouraging enough to dwell more on this crowd to explore more opportunities for business and sales. 5. Sources There is benefit of attending local chapter meetings of financial planner organizations. The best way to find out the identity of a local chapter is through any of the three national financial planner organizations: (1) Institute for Certified Financial Planners (2) International Association for Financial Planning or (3) National Association of Personal Financial Advisors. I also plan to be updated from top trade magazines including Today's Realtor and Mortgage Banking Magazine and online at Inman News, the leading electronic broadcast service in real estate Informally I will also keep track of all the blogs veteran certified financial planners maintain, to develop some kind of competitive intelligence and be better facilitated with facts about the sector as a whole. Websites of leading firms that hire Financial Planners like AIG, Ameriprise Financial, Edward Jones, John Hancock. Primerica also will provide enough insights about the