In 2014, Americans had a combined $57.1 billion dollars in credit card debt. In 2015, that number has amplified to an appalling $60 billion (“America’s Skyrocketing Credit Card Debt,” par 2). These startling figures are one of my many motivations to become a financial advisor. A financial advisor counsels individuals when investing, saving and plan short or long term financial goals (“Financial Analysts,” par 2). I am interested in this type of profession because of some experiences I have encountered in life. Twice, I have seen people I care about make decisions with investments that left them in bad financial situations. It’s a tough thing to watch and experience; I do not want to see it happen to anyone else. This is why being a financial
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Then, additional education dealing with topics such as investments, estate planning, taxes, and risk management are not required but beneficial (BLS, Par 1). Financial Advisors need a combination of licenses based on what they sell, either: stocks, insurance policies, bonds, or specific investment advice (BLS, Par 2). While it is not required to be certified, it can be incredibly valuable (BLS, Par 2). Certification is so valuable because it boosts the number of clients one would have and also portrays a reliable reputation (BLS, Par 3). This certification is called “Certified Financial Planner” or CFP and issued by The Certified Financial Planner Board of Standards (BLS, Par 3). To earn this one must obtain a Bachelors degree, three years of work experience, pass an exam and consent to follow an ethical code (BLS, Par 3). The exam consists of subjects such as the financial planning procedure, insurance and risk supervision, employee benefits planning, taxes and retirement planning, investment and real estate planning, planning liability, debt management, crisis fund reserves, and statistical modeling (BLS, Par 3). While many certifications are optional, financial advising firms are required by law to be registered; small financial advising firms must register through state regulators and large firms must register with the …show more content…
This percent increase is much better than the average. In 2012, 223,400 Financial Advisers were employed. This number is expected to increase by 60,300. The national average salary for a financial adviser in averages out to a wide range salary of the lowest ten percent being more or less $32,280 to the top ten percent being about $187,200 (BLS, par 26). However, in Oklahoma the salary ranges from lowest ten percent making approximately 31,790 to the top ten percent making in the region of $117, 280 (Personal Financial Advisor, Fig 1) This type of career generally offers benefits to employees such as insurance and vacation
Then, additional education dealing with topics such as investments, estate planning, taxes, and risk management are not required but beneficial (BLS, Par 1). Financial Advisors need a combination of licenses based on what they sell, either: stocks, insurance policies, bonds, or specific investment advice (BLS, Par 2). While it is not required to be certified, it can be incredibly valuable (BLS, Par 2). Certification is so valuable because it boosts the number of clients one would have and also portrays a reliable reputation (BLS, Par 3). This certification is called “Certified Financial Planner” or CFP and issued by The Certified Financial Planner Board of Standards (BLS, Par 3). To earn this one must obtain a Bachelors degree, three years of work experience, pass an exam and consent to follow an ethical code (BLS, Par 3). The exam consists of subjects such as the financial planning procedure, insurance and risk supervision, employee benefits planning, taxes and retirement planning, investment and real estate planning, planning liability, debt management, crisis fund reserves, and statistical modeling (BLS, Par 3). While many certifications are optional, financial advising firms are required by law to be registered; small financial advising firms must register through state regulators and large firms must register with the …show more content…
This percent increase is much better than the average. In 2012, 223,400 Financial Advisers were employed. This number is expected to increase by 60,300. The national average salary for a financial adviser in averages out to a wide range salary of the lowest ten percent being more or less $32,280 to the top ten percent being about $187,200 (BLS, par 26). However, in Oklahoma the salary ranges from lowest ten percent making approximately 31,790 to the top ten percent making in the region of $117, 280 (Personal Financial Advisor, Fig 1) This type of career generally offers benefits to employees such as insurance and vacation