If you’re considering earning your CFP® certification, one of the factors probably influencing your decision is the career opportunities available. Once you earn your certification, will you be able to land your dream job?
Well, it depends on what your dream job is. Stunt car driver? No. Astronaut? Probably not. But, if it’s one of the four CFP® opportunities listed below, then yes, earning your marks can absolutely help you land your dream job.
CFP® Careers #1: Financial Planning
To the surprise of literally no one, the number one career opportunity for CFP® professionals is in financial planning. It’s in the name of the credential.
With just a bachelor’s degree, you can enter the profession as an analyst within a financial planning team. Over time, you may shift to being an associate advisor or paraplanner where you assist financial planners and advisers with documentation and financial administrative tasks.
But earning your CFP® certification shows that you have more detailed and in-depth knowledge about the individual elements of financial planning while also understanding how to put them all together. You’ll know how to weave the individual threads of tax, insurance, investments, and more into beautiful, one-of-a-kind tapestries that illustrate financial success for your clients.
Depending on if you stay as a financial planner or advance into a director or partner role, your day could include:
- Drafting and presenting financial plans
- Participating in client meetings
- Managing client relationships
- Overseeing financial plan implementation
- Leading teams
- Assigning projects and supervising quality of performance
Pretty cool, right?
Career Outlook for Financial Planning
The demand for financial planners is only growing. The Bureau of Labor Statistics estimates the job outlook for personal financial planners to grow by 17% by 20331, which is a growth rate well above the 4% average. This equates to roughly 27,000 new job openings for financial planners each year.
CFP® Career #2: Financial Advisor
There are pretty big overlaps between what a financial planner does and what a financial advisor does. Planners look at the entirety of their clients’ financial health and goals and work with them to create a holistic financial strategy to help them meet their goals. This includes budgeting, tax planning, investing, and choosing the right insurance policies.
Financial advisors can do this too, but their focus is more on investment strategies or finalizing transactions on behalf of clients. But, like with financial planning, having a CFP® certification can help you leapfrog past the junior advisory roles and move into leadership or an independent advisory opportunity (just don’t actually leapfrog over junior advisors as this could lead to injury).
Day-to-day responsibilities include:
- Financial planning and analysis
- Investment management
- Compliance and documentation
Career Outlook for Financial Advisors
Like financial planning, financial advising jobs are expected to grow 17% through 2033, so if you’re worried about job security, CFP® careers are the way to go.
CFP® Career #3: Wealth Manager
You can probably guess—wealth managers specialize in working with affluent clients (high-net worth and ultra-high-net worth). You’ll use your knowledge and skills from earning your CFP® certification for the typical tasks like tax planning, estate planning, and investments, but tailored to the unique needs of high-net-worth individuals. Instead of planning for college savings, you might be devising strategies for business succession or comprehensive estate planning for actual estates.
Career Outlook for Wealth Managers
There isn’t specific outlook projections related to wealth management, but, like personal financial planning, the Bureau of Labor Statistics has a positive outlook with growth much faster than normal at 17%. The BLS expects approximately 138,300 new financial managers will be needed through 20332, and this does include wealth managers. Earning your CFP® certification will give you the knowledge and confidence to navigate complex financial situations, making you even more in demand.
CFP® Career #4: Investment Management
Our fourth CFP® career opportunity is investment management. It’s in the same area as wealth management, financial planning, and financial advising, but it’s more laser focused on growing your client’s wealth through investment strategies.
Again, these job titles are neither mysterious nor subtle. They’re pretty self-explanatory.
Working in investment management, your day-to-day tasks will probably include market analysis, portfolio design and optimization, and buying and selling assets on your clients’ behalf.
Having your CFP® certification will give you the added investment advisory know-how whether you’re working with individual clients or leading firm-wide investment strategies.
Career Outlook for Investment Managers
Like wealth management, investment management is a CFP® career that falls under financial management, which is set to grow significantly through 2033. So having an in-demand certification while going into a growing field means an even better outlook for your career.
Why is Now the Time to Jump Into CFP® Career Opportunities?
CFP® careers offer more flexibility, growth opportunities, and increased income. You can work with the jet set, lead investment teams, or help everyday people achieve their financial goals and build a better future for themselves and their family. It’s not just about career advancement, you’ll also get to make an impact on your clients’ lives.
So, when you ask if earning your CFP® certification will lead to your dream job…that’s for you to decide, but we believe it will!
Take the First Step Toward Your Dream Career
At the Boston Institute of Finance, we specialize in turning ambition into certification. Our industry-leading CFP® Education and Exam Prep programs have already helped thousands of professionals like you earn their credentials and dominate the financial world.
Better yet, with our expert resources, you can get certified and on the way to landing your dream job in less than a year.
What are you waiting for? Connect with a student advisor today to start your CFP® career and unlock opportunities you’ve only dreamed of!
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