A financial planner career is one of the most sought-after career options in a fast-paced country like Singapore. In today’s world where most motivated individuals are seeking for ways to grow and manage their life and wealth, they tend to want to turn to their ever-dependent financial planner to better navigate these aspects.
In fact, financial planner may sound like a dream career to many, largely attributed to the flexibility to work anytime and anywhere, the attractive pay and the capacity for personal growth. Financial planner or financial planning is more than a job; it is a meaningful career that not only provides a healthy income but allows one to find personal fulfillment too.
Have you ever wondered if this is the right career for you? Here are some things to consider, professionally and personally, if you wish to pursue a career as a financial planner.
1. It’s going to be a long and hard journey at first
Who wouldn’t want a high paying job? Although this career provides unlimited income, Financial Rome wasn’t built in a day, and the same applies to building a successful career. It takes time to escalate your skill set, knowledge and network, especially when you’re just starting out. Just like with most professional careers, it will take more effort to convince the first few people to engage your services as you are still new in the industry. Slowly, you then build your reputation and gain trust from clients that helps you to improve and gain more experience. It helps to speak to a mentor or a well-established planner who has been in the field for a long time to understand the ups and downs of the industry better. Be patient! Your hard work will surely pay off.
2. You would have to be comfortable with SELLING
In this industry, it helps to have a gift of the gab. Not only are you selling a product, you are also selling YOURSELF. You should be able to brand and market yourself well in order to find potential prospects who wish to work with you.
The main aspect of your job as a financial planner is in fact, being a problem solver. With the constantly changing financial landscape, not only do you have to keep yourself updated on the latest news, policies and plans, you would have to have an in-depth knowledge of what you are offering in order to provide the optimum solution for your clients. The value you bring to the table is how you converse with the client or potential prospects to properly understand their needs and what financial plan you give to help them confidently reach their goals.
3. It’s more about the PEOPLE than the money
On that note, a financial planner should LOVE meeting new people. Not only does this help to build your network, but it helps you retain customers. This is because the best financial planners are those who can sit down and talk about that person’s hopes and goals, are able to spot a problem and point out their fears without offending them. Yes, a good financial planner may be able to provide tangible, measurable outcomes for the client, but an even better financial planner is one that is genuinely committed to helping the client achieve their goals while nurturing a good working relationship.
4. You should never stop learning
It takes courage to take the first step towards becoming a financial planner. There are many things that you’d need to study such as the various securities, insurances, financial plans and more. However, this is the most basic job requirement to fulfill. To become a truly competitive financial planner, you should never stop finding ways of improving yourself. Not only knowledge-wise, but it helps to pick up a soft skill or two, like client relationship management and communication skills, or even self-improvement qualities, like confidence and empathy. These are skills that can help you go far in this line of work, and in life.
All in all, a career in financial planner is a rewarding one. If you think that you are ready to take on the challenge of being a financial planner, it’s time to embark on this journey with EVOL!