Hi,

what are future prospects of a financial planner? Will canadian degree in Financial Planning(FP) helps in PR? Please help me out.

Cheers,

Quote:

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Originally posted by dnana

Hi,

what are future prospects of a financial planner? Will canadian degree in Financial Planning(FP) helps in PR? Please help me out.

Cheers,

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This is a PILOT Program initiated and is Zone specific and you have the advantage of utilizing the same there in India.

Study well for IELTS and try to score 6.0 or better. That will enable you to Max in your studies here.

There are a lot of Community Colleges and Universities that will provide you a seat if you have high scores, such as 60%. If they have seats for other courses and there is no load on the courses here, they will also provide you an entry here into Canada.

http://www.canadainternational.gc.ca/india-inde/visas/StudentPartnersProgram_ProgrammePartenairesEtudiants-Nov09.aspx

http://www.accc.ca/

For your specific needs I am providing to you a detailed account of what it entails and what is expected out of you in the future for the betterment of your business acumen and also your career. All of this is for your guidance and use it to your advantage.

In general, financial planners are:

There to help clients gather information from bank account records, income tax returns, life and disability insurance records, pension plan information and will....

Help clients calculate their net worth and explain the assets and liabilities.

Help clients identify personal and financial goals and objectives

Explain all of the Financial Products and compare them with other financial products put out by different vendors.

Make recommendations regarding how clients can achieve their financial goals and objectives by prudent investments.

Help clients implement plans or refer them to other financial services or professionals, if it is beyond your scope.

Build and maintain a client base by keeping current client plans up to date and recruiting new clients on an ongoing basis, yet still maintaining them.

Meet with financial product representatives who provide other services and gain the knowledge about them.

Maintain detailed client files and watch it for gains and losses.

Self-employed financial planners may charge fees for their services, earn commissions on the products they sell, or both:

Fee for service planners base their fees on the value of the client's assets or on an hourly rate. Their recommendations may include suggestions that clients buy particular products or referrals to other professionals (accountants, lawyers, investment representatives) or institutions (for example, lending institutions). Clients may implement financial plans themselves.

Commission planners receive commissions for selling specific financial products. Their recommendations may include suggestions that clients buy particular products or referrals to other professionals or institutions.

Some financial planners also conduct seminars and workshops about:
General financial planning,
Pre-retirement planning,
Estate planning and
Understanding severance packages.

Financial planners also may write columns for newspapers, or appear on television or radio shows to offer financial advice.

Working Conditions:
Financial planners may work alone or with others in fully equipped offices, or work from home. Many financial planners travel to meetings at clients' homes or businesses. They may work evenings and weekends as well as regular office hours.

Personal Characteristics, Financial planners need the following characteristics:
Good listening and communication skills, and
Respect for client confidentiality.

The ability to understand complex financial documents such as wills, insurance policies, pension plans, financial statements and tax regulations too. It vaies from country to the next.

Entrepreneurial and business marketing skills.
A willingness to keep up to date and consider new approaches to problem-solving to each and every clients needs.
The ability to balance their clients' interests with their range of services.
Confidence in their knowledge and suggestions.
They should enjoy taking a methodical approach to gathering information, analyzing information and finding innovative solutions to problems, consulting with people and directing their activities.

Educational Requirements: This is foir you and the others who want to pursue this as a career. :
Most financial planners pursue CFP certification (see below). Successful completion of specified courses is required to sell different types of financial products.
The Canadian Securities Course is required to sell securities and mutual funds,
Or the Canadian Investment Funds Course to sell mutual funds the
Life License Qualification Program is required for life insurance and accident and sickness insurance licenses.
The Financial Planners Standards Council (FPSC) offers the Certified Financial Planner (CFP) credential to applicants who:
Have successfully completed an FPSC approved education program and
Have passed the Professional Competence Examination 1 and Professional Competence Examination 2
Have completed a Capstone Course
Have three years of financial planning work experience
Adhere to the Council's Code of Ethics.

ALL of the above are for the Canadian Candidate.

An education program may be taken by attending classes at designated universities and colleges, by distance education or via the Internet. There are no minimum admission requirements but experience in the financial industry is recommended.

The Canadian Securities Institute offers the Financial Management Advisor (FMA) designation to applicants who have completed the Canadian Securities Course, Professional Financial Planning Course and Wealth Management Techniques Course.

You might not do all of these and some are done on a timely basis and sequentially, if and when time will permit. Those who achieve all of the above are only a few and it should be each and every student's goal to get to know most of them. Hence the suggestion that you recommend one of your own colleagues if the client needs such services.

Freddie.