Friday, September 3, 2010

Help Clients to Stabilize their Bank Accounts as a Financial Planner

In today’s unsteady economy, planning for your financial stability is more important than ever. Clearly reflecting that fact is a 2006 Deliotte and Touche report that speaks on the need of financial professionals today and in the future. It is further backed by a 2009 Toronto Board of Trade report, which says that with demographic changes there is an increasing need for regulation and associated trained professionals. Therefore, we will see an increasing demand for graduates from programs such as Financial Planning.

Centennial College’s Financial Planning program is a Graduate Certificate undertaking, which means that it is the perfect choice for those who have previous education in financial services or have taken the Canadian Securities course or have worked in the financial services industry and are ready for advancement. Aside from having these aspects in mind when applying, students must also submit an official transcript demonstrating proof of successful completion of a post-secondary advanced diploma or degree program. Students may also be required to sit through an interview process and have their resume reviewed. English and math skills assessments may also be required.

The Financial Planning program takes eight months to complete. During your time at Centennial College, you will gain the educational requirements for the Certified Financial Planner exam and to be fully licensed with IDA/MFDA. This is achieved by covering topics such as tax planning, retirement financial planning, corporate credit management, ethics and stakeholder management and many others. There are also a number of specific skills that are gained by taking this Financial Planning program. Students are able to prepare accurate and relevant financial plans (manually and electronically), recognize potential tax and legal implications within a financial planning situation, apply recognized financial planning principles and industry standards, and integrate economic and personal information that is necessary for effective planning decisions. But that’s not all, students also have the ability to compare, contrast and select from appropriate financial products and services, investment planning and counselling. Lastly, the Financial Planning program teaches students how to effectively market financial products by developing an inventory of prospective clients and following up with the individual sales strategies in pursuit of new and renewal business.

Graduates of Financial Planning who complete the appropriate licensing steps, will be able to work in: banks, credit unions, financial planning companies, life insurance companies, mutual fund companies and with investment dealers. At these places, they assess all sources of revenue, including salaries and investments, and create budgets for clients that meet their various long-term goals. They do this in such as way that hopefully does not restrict the clients’ current quality of life. Financial planners also advise clients about implications of specific decisions, how to manage the risk posed in the cash flow, about the best insurance technique for use in order to reduce risks and they formulate tax and estate plans. Lastly, they determine whether clients have sufficient resources to meet goals within a specified time limit.

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