How Much Money Does a Financial Planner Make?

Perhaps you have wondered how much money does a financial planner make? After all, they are surrounded by money that is what they think about day and night, trying to increase the store of investments for their clients, and for themselves along the way. Like many careers, the amount of money a financial planner can make depends on several factors; education, qualifications, certifications, clientele, the stock market and other investment vehicles, experience, and desire.

It is not unusual for a novice financial planner to take their BA in Finance or Accounting to a financial services company and start out at an annual salary of about $25,000. Those with a decade or more of experience can average up to about $110,000, according to US Department of Labor statistics. And then there are the few outstanding planners who make well into the seven figure income bracket, like TVs money superstar Suze Orman in the U.S.

There are several ways to become a financial planner. In most states, there is no requirement involved; you could just set up shop and wing it, but it is a bad idea, because unless you are psychically gifted, you will be unable to perform for clients without education in this field. Another entry method to this career is to join a company, perhaps a chain business, as assistant financial planner. You learn on the job, they train you and then you go take certification testing. You will do this for a couple years, or until you go back to school for an advanced degree. You salary will range from $25,000 to $40,000.

At the mid level in this career, you may earn between $47,000 and $76,000. You will do the work you envisioned at the beginning, finally. You work with clients, assisting and advising them on taxes, investments, estate planning and insurance. This is the goal of most when they think of becoming a financial planner.

If you have an MBA or Masters in Finance or Accounting, you have the best opportunity to find out how much money does a financial planner make. With a decade or so of experience, you can reach the top average pay of about $110,000. You can then present seminars, and handle top level clients.

For certification, exams are offered by the Financial Industry Regulatory Authority. Or, you can pass the Certified Financial Planner Board of Standards CFP exam (Certified Financial Planner). This exam demands you have three years of qualifying experience working full time, meet ethics standards and continue your education. Beyond this you can become a Chartered Financial Consultant through the American College in Pennsylvania.

A different track to financial planning success puts you in the ownership of a financial services franchise. These franchises offer complete business packages, from site selection and market analysis to ongoing support and training in-house, and help with licensing and management. It is a turn-key business.

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