how exactly does a financial planner earn money?

Question

please be specific, what every day things do financial planners do, how do they make a high salary ($60,000 or up), what kind of companies would they work for, how can i be sure to know what i need to know when i look for an internship or a job after i graduate

please be specific, what every day things do financial planners do, how do they make a high salary ($60,000 or up), what kind of companies would they work for, how can i be sure to know what i need to know when i look for an internship or a job after i graduate, ANY INFO WILL HELP THANKS

Answer 1

Typically..they meet with people or corporations. Discuss the goals and investment philosophies of these clients. Create an investment policy statement for the client. Determine the best course of action to formulate a portfolio given the clients goals and needs. The exact day to day function can vary greatly depending on the type of clients you deal with and the firm you work for.

Pay is generated through charging clients either an hourly amount ($50-100 is fairly normal) or charging clients a percentage of assets managed.

The good thing about this career is that it is relatively easy to set up your own shop and call your own shots with a little experience, a good education, some certifications, and some clients and connections.

Answer 2

Financial planners almost always earn their keep through commissions from the products they sell to their clients. Hence, sometimes, they may not think what are the products that best fit the customer's profile and sell more than what the client needs. They can also increase their client base through existing clients' referrals.

Many banks and insurance houses hire financial planners to get their clients. The mainstay of their products which earn the most are the insurance products.

You may also need certain certifications to be a financial planner such as the CMFAS or CFP.

Answer 3

There are 2 substantial forms of non-public loan adviser ( i'm one). in the beginning autonomous advisers who can analyze the full of the industry amd discover the final deal for you. they might or would possibly not value a value for their provider. Pay no extra effective than £500, oftentimes around £3 hundred for an undemanding broking provider. 2nd adviser works for a lender, in basic terms sells that lenders mortages yet doesnt value value oftentimes.