Cyborg's Blog: Who is a Financial Planner

Friday, August 08, 2008

Who is a Financial Planner

"Heard about CFP or rather Financial Planner? Its nothing but Certified Financial Planner. It is yet another course acronym in Finance domain. You have heard CA, CS, ICWA, then you have the next hyped CFA, then CPA, then CRP and then you have CFP.

Actually speaking good there are more and more careers coming in finance and accounting domain other than the standard courses.

CFP for Financial Planning is offerd by FINANCIAL PLANNING STANDARDS BOARD INDIA [FPSB].

So here is probably one of the first course that prepares you for Financial Planning.

Following is the FAQ from its website, for you guys to get a glimpse of."

Who is a Financial Planner?

A Financial Planner takes a holistic view of the financial life of people and helps them in reaching the goals they have envisaged. Financial Planning requires a great deal of empathy, an understanding of individuals' ambitions in life, their financial position and an expertise in creating wealth for individuals, by judicious investment. A fast growing population of wealthy professionals, a growing industrial and services sector and the emergence of a number of choices for investments have created significant opportunities for professionally competent financial planners.

What does a Financial Planner do?

A Financial Planner determines his client's short, medium and long-term aspirations, then develops and applies the plan that has been agreed upon. Together the Financial Planner and the client will review the plan at least once a year and revise it if the need arises.

Who employs Financial Planners?

A Certified Financial Planner having been through a rigorous education and experience process is geared to boost client's confidence and satisfaction. Financial Planners often choose to establish their own financial planning practice either by themselves or together with other planners. Others work for: