(StatePoint) So you’ve recently graduated college. The summer ahead is the perfect time to consider a career as a financial planner. At a time when new research reveals that more than half of four-year college graduates are underemployed a year after they graduate, the financial planning industry is booming.
To give yourself a competitive edge when you’re just starting out, consider earning your CFP® certification. CFP® certification is the standard in financial planning and paves the way for an exceptional career.
Here’s what you need to know about a career as a financial advisor with CFP® certification, also known as a CFP® professional:
• You can gain financial stability: When you’re young, it’s important to pay down any student debt and begin saving for the future as early as possible. That’s difficult to do in industries with low starting wages. While financial planning salaries vary, you can expect to earn $50-70K as a starting point. And there’s a lot of room for growth — experienced financial advisors earn $192,000 on average.
• You’ll enjoy job security: Many industries are experiencing widespread layoffs and instability, but financial planning is a career path offering job security and growth. In fact, the Bureau of Labor Statistics predicts that the demand for financial advisors will grow quickly, at a rate of 13% through 2032.
• You’ll use a wide range of skills: Financial planning isn’t just numbers and math. The job requires great communication skills and a high level of emotional intelligence to guide clients through the psychology behind their money management.
• You can forge your own path: Financial advising is not a one-size-fits-all career path. You can choose to specialize in a particular area of finance or take a holistic approach to your clients’ needs. Where you work is also up to you — you might work at a nationally known financial services firm, a small local firm or even a bank or credit union. Because of the commitment to professional excellence and high ethical standards it demonstrates, gaining your CFP® certification will unlock even more career opportunities. Many CFP® professionals even start their own business early in their careers.
• You’ll be helping others: CFP® professionals build trusted relationships with their clients, helping people achieve their life goals, whether that’s buying a home, paying for their children’s college educations or preparing for retirement.
• You can design your own schedule: After four years of scheduling classes to suit your needs, the idea of rigid working hours may not be appealing. Fortunately, financial advising can come with scheduling flexibility and a good work-life balance.
• You’ll find support along the way: As you work toward CFP® certification, you’ll have many opportunities for ongoing support. An online candidate forum offers opportunities to connect with others on their path to certification. Other resources include a progress tracker, exam preparation tools, financial aid and three mentorship cycles a year that align with the exams offered. Additionally, the CFP Board’s Career Center can help you find your footing after you get certified.
For more information about becoming a financial planner, visit CFP.net.
As you spend the summer months looking back on and celebrating all your hard work over the last four years, don’t forget to make an investment in your future. Pursuing CFP® certification can lead to a rewarding, profitable career as a financial planner.
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