Financial Planning Careers Balance Money, People

The world of financial planning is a career oyster waiting to be cracked open by people with good financial and people skills.

By Robert Elsenpeter, Star Tribune Sales and Marketing

Last update: March 16, 2007 - 4:09 PM

For many of us, the words "financial" and "planning" are rarely seen in the same sentence. It's not that we don't want a secure financial future; it's just that well fill in your own excuse here. But for those people with a knack for this dark art and those with great people skills the world of financial planning is a career oyster waiting to be cracked open. Planners do different things, so there's a lot to pick from within the career.

The Job

"The reality is we do a number of different things," says Michael Branham, certified financial planner and director of career development with the Financial Planning Association of Minnesota (www.fpamn.org).

The title "financial planner" can refer to anybody in the financial services arena, including brokers, comprehensive planners or insurance agents.

"I try to quarterback helping people reach their financial and personal objectives," adds Nate Wenner, certified financial planner and director of public relations for FPA Minnesota.

"We're sort of like therapists," observes Branham. "We help people through the good times and the bad times."

While financial planners need to be good with figures, what attracted Wenner to the career wasn't crunching numbers it was helping people.

"I enjoy getting to know them and getting to know what's important to them," he says.

Demand And Growth

"The Financial Planning profession is growing rapidly, as the need in the community for financial help is growing," observes Wenner. "Our profession needs more people who enjoy and are good at helping others, and can serve those needs. Not just salespeople, but those who truly want to listen, advise and help consumers take action, using their own financial talents."

While there is a demand for financial planners, the key is going to be getting up and coming planners in specific niches that are best for them.

"We need to get people in careers in a responsible manner so that the field doesn't get oversaturated," says Branham.Branham is helping guide young planners as the president of FPA NexGen (www.fpanexgen.org). The organization helps new planners find their legs in the world of financial planning.

Career Development

Starting out as a new financial planner can be hard work.

"It's not easy," says Wenner. "A lot of people try to do this right out of school and they find that they have to be planners and they have to be salespeople."

Wenner suggests working with another, more experienced planner to learn the trade.

"A lot of us got in the business that way and we're still seeing that," says Wenner.

One of the FPA's goals is helping new planners become successful. To that end, they will match planners and employers. Students are welcome to attend FPA meetings.

"They can learn about the practical aspects of the career," says Wenner.

Further, the FPA can help student planners get internships.

"Because the failure rate is so high, they need to go into it with their eyes wide open," says Wenner.

Robert Elsenpeter is a freelance writerfrom Blaine.

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