In the 1970s, financial planners essentially had three career choices: they could become 澳洲幸运5官方开奖结果体彩网:stockbrokers, insurance agents, or work as an auditor at a large accounting firm. Their paths were set, and the expectations were 🌄simple. Much has changed since t🦩hen.

There are many more choices꧅ available, but this also means that students are expected to know more and do more than ever before in a fiercely competitive environment. Preparing for a career in financial planning requires a g🅠reat deal more training in areas that were traditionally relegated to other professions, such as accounting and psychology.

In this article, we'll explore actions that recent and soon-to-be graduates can take to decide where they want their 澳洲幸运5官方开奖结果体彩网:financial planning career to go and then get a leg-up on the competition.

Prepare Before You Graduate

Perhaps the first and most obvious course of action is to simply choose an appropriate major. These include ✨business, economics, finance, or accounting. Personal financial-planning programs are being offered at more universities, both at the graduate and undergraduඣate levels.

These programs can be especially helpful because they also often touch upon a number of 澳洲幸运5官方开奖结果体彩网:top💧ics that other programs fail to cover. These topics include consumer rights, the dynamics of finance within the family, and 澳洲幸运5官方开奖结果体彩网:the psychology of retirement.

Traditional financial-planning curricula will only cover material that is directly relevant to the 澳洲幸运5官方开奖结果体彩网:Certified Financial Planner (CFP®) Board exam, such as investments, insurance, and taxes.

Therefore, choosing financial planning as a major will provide students with a much broader base of knowledge from which to begin their careers. Understanding the psychology of finance and investing will be an invaluable aid when dealing with clients anꩵd is in fact a skill that all financial planners must master to some extent.

Extracurricular Activities

Of course, choosing the correct major is only one step that students can take to further their caree🐼rs beforﷺe graduation. There are a number of other options available to students that will look good on a resume to prospective employers. Below are some examples:

• Preparing Income Tax Returns: This is a good, practical skill that can greatly benefit students in a number of ways. In addition to providing solid, hands-on experience with customers in the financial industry, it will also teach students basic tax information that will be 澳洲幸运5官方开奖结果体彩网:tested on the CFP® Board exam.
• Working at a Bank: Student planners often find that working at a bank provides multiple career benefits. It's a job that easily fits around an academic schedule. The pay is better than many other after-school jobs. It looks good on a resume, gives practical work experience, and shows that you are a responsible person.
• Sitting for the 澳洲幸运5官方开奖结果体彩网:Enrolled Agent Exam: This exam is administered by the IRS. The test covers virtually all of the tax material found in the CFP® Board exam. Passing this test and earning this designation will be an impressive credential to present to prospective employers in any field of financial practice. You'll also gain a tremendous advantage over CFP® applicants that have had no previous tax training.
• Internships: Working as an intern at a financial planning firm will provide obvious benefits for any student; however, while any internship can be beneficial, working at a smaller company will likely provide more hands-on experience with clients and the financial planning process than a larger firm, where interns are often relegated to administrative support or marketing roles.

Finding a Job

Graduates have a number of tools at their disposal that can greatly increase their exposure to the financial community. Obviously, a graduate who completed an internship at a local꧒ company has a substantial advantage 𓂃over an unknown competitor in the job-selection process.

For those who do not have this luxury, the Internet can be an indispensable resource. Websites such as ꦅcontinually list all available postings from many c𒁃ompanies.

Those wꦉho prefer to take a face-to-face approach and network themselves (and even those who don't) would be wise to join the local chapter of a financial planning organization, such as the or the .

These groups offer man꧙y resources to both rookie and veteran planners and are well worth the cost of membership.💝 Their wಌebsites often contain job postings, too.

After Graduation

Knowing what job is the best fit for you can be a ch🌱allenge. Here are some more items to consider when choosing your career path:

• There are a number of different 澳洲幸运5官方开奖结果体彩网:business models being used in the financial planning industry today. Stockbrokers and insurance agents generally work on commission, while 澳洲幸运5官方开奖结果体彩网:Registered Investment Advisors tend to charge either an hourly fee or a percentage of 澳洲幸运5官方开奖结果体彩网:assets under management as compensation.
• The size of the company matters. Large companies will provide such 澳洲幸运5官方开奖结果体彩网:amenities as office space, business cards, and letterhead; however, larger companies may also have stiff production quotas, lower payouts on commissions, and a highly regulated environment. 
• In turn, small financial companies offer a more relaxed atmosphere and a more comprehensive array of products and services. Working at a smaller firm can also provide a much broader range of experience for new representatives, who may have the freedom to implement a well-rounded 澳洲幸运5官方开奖结果体彩网:financial plan for a client. This plan could include such things as mortgage planning and澳洲幸运5官方开奖结果体彩网: income tax preparation. It's doubtful you would have this kind of responsibility at a large company.
• Training and support differ from company to company. Some financial firms will provide their employees with all the necessary education and training that they need in order to pass the requisite exams, as well as thorough sales and product training. Many new advisors will benefit from the training programs offered by large companies. Even if you ultimately lose out to the competition at a large firm, you will still have marketable skills that are attractive to small firms that can't provide the kind of training and licensing you've received.
• Finally, regulations from the 澳洲幸运5官方开奖结果体彩网:Financial Industry Regulatory A𝄹uthority require sponsorship by a broker/dealer or another member firm in order for you to sit for any securities licensing exam.

The Bottom Line

College students have many options that they can choose from to improve their marketability before graduation. Once you're out in the real world, remember that the initial key to success in the financial planning business is persistence. Some graduates will find their place in the field immediately, while others may have to try a few different working environments to find the one that best suits them.