What is it like being a Financial Planner? Is a CFP or MBA more valuable in this field?

Johnny asked:

I am interested in persuing a career path in the Financial Planning field. I am 26 now, and currently a Financial Planner in a Fortune 50 company. However, I’m questioning whether I want to work in corporate America all my life, or if I want to persue a career path in more “private” financial planning – mainly for individuals.

So for those of you who are Financial Planners right now – whats it like? What are the best aspects…and the worst aspects….of your job? Is getting the CFP worth it – or is an MBA more valuable? I’m questioning right now which path to take – 1) get an MBA or 2) get a CFP ($$ is not an issue since my company will pay for my full education).

Any insight you could provide into the field would be greatly appreciated. Thank you!
Only one answer? Are there any Financial Planners out there?????


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3 thoughts on “What is it like being a Financial Planner? Is a CFP or MBA more valuable in this field?

  1. Financial

    A private financial planner or advisor does not need either a MBA or CFP, and I wouldnt recommend the waste of money. Ive actually seen people hired with not even an associates degree, and Ive known of people very succesful in the field who do not have degrees, or have degrees from completely unrelated fields.

    The most it would do is trump your qualifications to perspective clients.

    As I always say, there are only three places for an MBA, a corporate board room, an investment bank, or a consulting firm.

    There is no need, in my opinion, for an MBA to deal with mostly low level investing functions, and pushing mutual funds.

  2. Financial

    As you already know financial planning is the process of meeting your life goals through the proper management of your finances. Financial planning provides direction and meaning to your financial decisions. It allows you to understand how each financial decision you make affects other areas of your finances. I’d study for the nationally licensed CFP b/c it will carry much more weight over time IF you go into private practice.

    To the public you can stress “A CFP demonstrates they’re committed to competent and ethical behavior when providing financial planning. Individuals certified by CFP Board have taken the extra step to demonstrate their professionalism by voluntarily submitting to the rigorous CFP® certification process that includes demanding education, examination, experience and ethical requirements.”

    We know financial advisors are all around you, but few possess high ethical standards, a comphrensive financial background, and possess the necessary work experience to objectively help clients. Once you get your CFP which takes on average at least four years (2 for the academics, 2-3 for the work experience requirement); you can work with a brokerage or go into private practice. Good luck and keep us posted.


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