Skip to main content
4 answers
5
Asked 1814 views

How long do I have to go to school to become a financial planner?

I'm debating majoring in finance when I go to college, but I don't know if I can become a financial planner straight out of college. I want to get my MBA, but I want to work as a finanical planner for a few years between undergraduate and graduate school. #finance #financial-services #investment-management #investing #financial-planning

+25 Karma if successful
From: You
To: Friend
Subject: Career question for you

5

4 answers


1
Updated
Share a link to this answer
Share a link to this answer

Aditya Raj’s Answer

There is no set criteria on what you should study or do to become a financial planner. I would recommend reading about the CFP (Certified Financial Planner) program on its requirements. But you don't necessarily need a finance degree or an MBA. I know people who studied history in college and are very successful CFP's. You have a long way to go and I recommend taking some classes about finance first and giving yourself time which you have, before you make a decision. All the best!

1
0
Updated
Share a link to this answer
Share a link to this answer

Nelson’s Answer

I would highly recommend you get your CFP after your undergraduate degree, before you pursue an MBA. I have a 4 year bachelors degree in Personal Financial Planning which fulfills my education and ethics requirements to sit for the CFP exam. A degree in PFP is nice, but not necessary as there are other ways to get these requirements. A degree in Finance or Economics will be an equally strong path, however as the poster above mentioned you can get a degree in history and then go on to get your CFP by completing a certificate course. There are more than one ways to reach the CFP requirements, but it is the most widely recognized standard in the industry. An MBA is not necessary to practice as a financial planner, however if you want to reach associate, VP and director level positions at the best companies then I highly recommend it. Your career may cap out without it. With that said though, there are a few routes you can go as a financial planner, some where it is more of a sales position based on gathering clients and assets, and other positions where you are in more of a planner role. An MBA may or may not be necessary depending on your career goals.

0
0
Updated
Share a link to this answer
Share a link to this answer

Zachary’s Answer

There is no set collegiate path needed in order to be a financial planner. I am currently enrolled at Kansas State University studying financial planning, and there is a large variety of backgrounds of students in there. Some were actuaries, insurance salesmen, and English majors. They all at one point in their life decided they had a passion for financial planning and began pursuing the career through working in the industry first. After discovering they truly wanted the career, they enrolled in the university in order to become eligible to sit for the Certified Financial Planning designation. This isn't a must to be a financial planner, but it differentiates you from other planners who do not have it. It shows that you truly are a master of the knowledge by achieving the certificate.
0
0
Updated
Share a link to this answer
Share a link to this answer

Sean’s Answer

So I'm a little late to the party on this and I agree with everything said above but ill throw in a few things. The CFP designation is changing from a "nice to have"to a "must-have" in the financial planning business if you want to be taken seriously as more and more people are getting it. There are other similar designations but don't hold the same amount of weight in the eyes of consumers. Name recognition creates creditability and the CFP board has done a better job of marketing the designation. I'm in my 9th year in the business, moving to the Independent RIA space about 4 years ago. An MBA would be a nice thing if you are in the corporate side of things or for that first job but by in large would be a waste of time/money compared to the CFP if you want to be a client facing financial planner. And that statement comes from a good buddy of mine who is a CFP and has an MBA from an ivy league school. Hope this helps! Good luck out there!

0