OVERVIEW
What Is a Financial Planner?
A financial planner helps individuals and businesses create long-term strategies to manage their finances and work toward important financial goals. They evaluate a client’s financial situation and provide guidance on areas such as budgeting, investments, insurance needs, income tax, estate planning, and debt management. They may also help clients reach goals such as purchasing a home, paying for a college education, and planning for retirement.
Unlike stockbrokers, who primarily focus on buying and selling securities, financial planners take a broader, long-term approach to financial wellness and decision-making. Their financial planning process supports both immediate needs and future goals. Because this role is both people-focused and practical, being a financial planner can be a rewarding career path with flexibility and opportunities for growth across different areas of finance.
RESPONSIBILITIES
What Does a Financial Planner Do?
Financial planners assess a client’s financial situation, analyze relevant data, and develop personalized strategies based on individual goals and circumstances. This typically involves in-depth conversations and a review of financial documents such as income statements, tax records, and savings and investment accounts to understand each client’s objectives and financial position.
On a regular basis, financial planners typically focus on:
- Working with clients to define short- and long-term goals
- Assessing financial risks and opportunities
- Identifying potential sources of income and growth
- Creating and maintaining budgets and financial plans
- Developing retirement planning strategies
- Advising on personal finance decisions
- Researching and presenting investment options
- Managing client investment portfolios
- Coordinating estate planning
- Building and managing client relationships
- Identifying and cultivating new clients
EDUCATION & BEST DEGREES
How Do I Become a Financial Planner?
Becoming a financial planner typically involves a combination of education, certifications, and hands-on experience. Most professionals start by building a strong foundation in core areas such as investments, taxes, insurance, retirement planning, and financial strategy.
A common first step is earning a bachelor’s degree in finance, economics, or a related business field. WGU’s bachelor’s degree in finance helps students develop essential financial skills while preparing for industry exams and certifications like the Certified Management Accountant (CMA) and Financial Planning and Analysis (FP&A) certification, depending on program pathways.
After completing basic education requirements, many financial planners also pursue additional professional credentials such as Certified Financial Planner™ (CFP®), Registered Financial Consultant (RFC), or Chartered Financial Analyst (CFA) to strengthen expertise and credibility. The Certified Financial Planner Board of Standards, Inc. (CFP Board) sets and upholds professional standards for financial planning in the U.S.
For those looking to advance into leadership roles or broaden career opportunities, earning a master’s degree can be the next step. A Master of Business Administration (MBA) or M.S. in Accounting can help build additional expertise in areas like business strategy, communication, ethics, leadership, and management.
With the right education program, certifications, and relevant experience working under an established financial planner, professionals can grow into more advanced roles and take on greater responsibility in client management and financial strategy.
Best Degrees for a Financial Planner
Business
Finance – B.S.
This online finance program is career-focused so you will gain relevant...
This online finance program is career-focused so you will gain relevant industry skills.
- Time: 62% of graduates finish similar programs within 24 months
- Tuition: $3,830 per 6-month term
- Courses: 41 courses in this program
Some careers and jobs this business degree will prepare you for:
- Management
- Accounting
- Finance
- Spreadsheets
- Financial Analysis
- Problem Solving
The competency-based model at WGU allows you to move as quickly as you can master the material, and do your coursework on your schedule. Flexibility is key with the B.S. in finance at WGU.
Business
Master of Business Administration
The flexible MBA program you need, focused on business management,...
The flexible MBA program you need, focused on business management, strategy, and leading teams:
- Time: Graduates can finish in 12 months
- Tuition: $4,805 per 6-month term
- Courses: 11 total courses in this program
Skills for your résumé you will learn in this program include:
- Leadership strategies
- Talent management
- Communication
- Data collection and interpretation
- Financial statements
Our competency-based model gives you an innovative learning experience you won't find anywhere else—and our MBA grads tell us they loved accelerating their program to see a faster ROI.
Business
Project Management – B.S.
Step into your first project management role with the education and...
Step into your first project management role with the education and credentials you need.
- Time: 61% of graduates finish similar programs within 19 months.
- Tuition: $3,830 per 6-month term.
- Courses: 39 courses in this program.
Skills for your résumé that you will learn in this program:
- Agile project management
- Project planning and scheduling
- Risk assessment and mitigation
- Team coordination
- Procurement and change management
- Process improvement
- Project documentation and reporting
- Project management software
The B.S. in Project Management equips you with the focused project management knowledge to guide projects from start to finish. Prepare for your career in project management and Project Management Professional (PMP®) exam eligibility through industry-aligned courses at your pace and on your schedule.
How Much Does a Financial Planner Make?
$139,446
A financial planner’s salary can vary based on factors such as experience level, geographic location, employer, certifications, and client base. Under the broader category of personal financial advisors, financial planners earned an average annual salary of $139,446 in 2024, according to the U.S. Bureau of Labor Statistics (BLS).
Professionals with specialized expertise, advanced certifications, or several years of experience may have higher earning potential. Additionally, some financial planners may earn bonuses, commissions, or performance-based incentives depending on their role and employer structure.
What Is the Projected Job Growth?
17%
The BLS projects 17% from 2024 to 2034, with about 24,100 openings projected each year. The job outlook for financial planners is expected to remain strong over the next decade as more individuals and families seek guidance on retirement planning, investing, budgeting, and long-term financial management.
SKILLS
What Skills Does a Financial Planner Need?
Financial planners rely on a combination of technical knowledge, communication abilities, and interpersonal skills to help clients make informed financial decisions and plan for the future.
Important skills for financial planners include:
- Finance and accounting knowledge
- Analytical and critical thinking
- Communication
- Attention to detail
- Problem-solving
- Active listening
- Customer service and relationship management
- Sales and business development knowledge
- Organization
- Time management
- Self-motivation
Combining technical expertise with strong people skills can help financial planners build trust with clients and develop long-term professional relationships.
Our Online University Degree Programs Start on the First of Every Month, All Year Long
No need to wait for spring or fall semester. It's back-to-school time at WGU year-round. Get started by talking to an Enrollment Counselor today, and you'll be on your way to realizing your dream of a bachelor's or master's degree—sooner than you might think!
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