A financial planner or financial analyst is an expert financial adviser. Practicing in complete service personal finance, these people advise clients on savings, investing, pension, insurance and estate planning as well as current market trends. To become such an advisor, one must attain a bachelor’s degree from an accredited college of business with a major focus on finance or accounting. Upon graduation, you can work in a number of finance-related positions, including serving as a financial advisor or certified public accountant.
Some positions may require a license while others do not; however, there are no laws that regulate the field. Many financial planners work on a for-profit basis, charging a flat fee for their services. Some work for firms, but many operate independently and set their own prices. Some charge by the hour while others bill hourly, depending on the project. In both cases, the client pays no money until results are achieved.
Clients should be aware that fees charged by financial planners vary, depending on their experience and expertise. Those who have years of experience are likely to charge more than beginners since they have more experiences and therefore can be better at their job. Some advisers start off as part-time workers, while others work full-time and some consultants work freelance, earning up to $200 per hour. Those working for firms generally start as interns and on completion of their studies, go straight to full-time jobs.