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Financial Planner Job Description Research Team | Posted On Tuesday, March 24,2009, 04:12 PM

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Financial Planner Job Description



Financial Planners Job function

A financial planner is one who uses the financial planning techniques/process to help you understand how to meet your life goals. The planner can take a `Clear View` of your financial situation and make financial planning recommendations that are suitable for you. The planner can look at all of your financial needs including budgeting and saving, insurance, investments, taxes, and retirement planning. Or, the planner may work with you on an individual financial issue but within the framework of your overall situation. This approach of financial planner to your financial goals sets a financial planner apart from other financial advisers who may have been trained to concentrate only on a particular area of your financial life.

A financial planner is the best friend who needs to advice you on ways of achieving financial goals. He is a client-oriented professional who works in the best interest of his customers. When you have a professional relationship with a planner that does not mean that he replaces other professionals such as doctors, lawyers or accountants. A planner is a coordinator who works with other people in making the planning (Financial Planning) process work.

Personal Financial Planning

Personal financial planning is a process, but not a product. It is an organized, well-planned system of developing strategies for using your financial resources to attain both short- and long-term goals. He will help you to answer the following questions :

  • Where am I?
  • Where do I want to go?
  • How do I get there?
  • When should I start planning?

It is very important to start planning for the future as soon as you can. Time passes very fast - it is never too soon to start planning for tomorrow.

A financial planner is specialized in the planning aspects of finance, in particular personal finance, dissimilar to a stock broker who is only concerned with the actual investments, or with a life insurance intermediary who advises on risk cover products.

Financial planning is generally a six-step process, and involves considering the client's situation from all relevant angles to generate integrated solutions. The six-step financial planning process has been adopted by the International Organization for Standardization (ISO). Financial planners are also known by the name financial adviser in some countries, even though these two terms are technically not synonymous, and their roles have some functional differences.

Even though there are many types of 'financial planners,' the term is mainly used to describe those who consider the entire financial picture of a client and then offer a comprehensive solution. To differentiate from the other types of financial planners, some planners also called as 'comprehensive' or 'holistic' financial planners. Other kinds of financial planners may specialize in one or more areas, such as insurance planning and retirement planning.

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