Financial Planner is a professional who focus on the consultative services and helps people deal to with various personal financial issues through proper planning. In short, a financial planner carries out financial planning. Financial planner aims on providing direction and meaning to financial services, allowing the person to understand how each financial decision affects the other areas of finance; and to adapt more easily to life changes in order to feel more secure. Services offered by financial planners can vary widely. Some financial planners assess every aspect of your financial life—including saving, investments, insurance, taxes, retirement, and estate planning—and help you develop a detailed strategy or financial plan for meeting all your financial goals.

Reason for hiring a Financial Planner:

•    An adviser can draw up plan summarizing short- and long-term goals and give specific advice on how to achieve them.

•    Financial planner helps you with all aspects of your financial life— not just investments, but also debt, savings, taxes, insurance, retirement, and estate planning etc.

•    Also clarifies the financial statements like net worth statement, cash flow statement, insurance policies, tax returns, wills, powers of attorney,  investment portfolio and transactions, employee benefit plans, trust agreements, pension statements etc.

Personality Traits:

As a financial planner, one needs to be aware and capable of understanding financial products, with clear and concise communication skills. Should possess good listening and questioning skills with a professional and confident personality. A complete hold over analytical skills, counseling skills, and ability to inspire trust is necessity.

Qualifications of a Financial Advisor:

There are not any recognized or prescribed academic records requirements but not less than high standard of education. Many financial advisor or planners are graduates with a degree in finance and accountancy, business studies or other related subjects. Holding a Financial Management degree is above all of the other required eligibilities.

Types of Financial Planners/Advisors:

There are two types of financial advisors depending on the basis of their mode of work:

•    First type where a person is tied to an individual bank, building society or insurance company, advising solely on the financial products of that organization.

•    Second, where planner plays a broader role as an independent adviser, recommending suitable investments, mortgages, pensions and insurance policies on an impartial basis.

Role of a Financial Planner:

Financial Planner plays same role like a doctor, who can shelter our lives as well as can endanger it. You have to trust a financial planner just like a doctor. The planner is trained to take X- Ray of the client's financial situation. Financial planners can help their client’s to utilize their money/ savings in a proper manner and also according to their needs. They help you select a portfolio that is just right for you. A financial planner must have the ability to unlock all the information doors in front of their client’s. In short, a financial planner should offer a right choice to a client.

Career prospects of a Financial Planner:

Growth of Indian Economy with a rapid pace is offering numerous jobs and a clear tomorrow for a Financial Planner. Job opportunities in the field of financial management are plenty. A career in this field is pretty satisfying. A Financial Planner also gets good job opportunities in abroad also. One can also find job opportunities in MNCs and even in multi-currency trading also.

Financial Management:

Financial Management is the degree, also counted as a required eligibility for the post of a Financial Planner either in a government sector or in a private sector.

The institutes offering courses on Financial Management are -

•    Association Of Financial Planners, Maharashtra

•    International College Of Financial Planning, New Delhi - 110 019

•    Wigan & Leigh College , New Delhi

•    Financial Planners & Advisory Academy Mumbai

•    Institute of Chartered Financial Analysis of India (ICFAI)

•    Institute of Financial and Investment Planning, Mumbai 

•    University of Madras, Centenary Buildings, Chennai

•    The Aligarh Muslim University, Aligarh