Financial Planner

National Occupation Classification Code: 1114.1
Employment Outlook: Above average growth with turnover
Minimum Educational Requirement: 4 years post-secondary education/training
Search Educational Institutions in Alberta for Training Programs: EDinfo


OCCUPATION INFORMATION YOU NEED TO KNOW:

• Can I practice as a Financial Planner right away?
• What are the duties for this occupation?
• What titles or specialization areas correspond to this occupation?
• How do I attain designation OR what courses should I take?
• What salary can I expect?
• What is the employment outlook in Calgary?
• What do employers expect beyond technical skills?
   

OCCUPATION INFORMATION YOU NEED TO KNOW:

Can I practice as a Financial Planner right away?

Yes. The ability to call yourself a financial planner varies from province to province.
Financial services regulation is governed by provincial jurisdictions. Only Financial Planners in Quebec and British Columbia are required to become license Certified Financial Planners. Provinces are, however, beginning to consider standards for practice: minimum education, full disclosure of sales commissions, requiring client approval on all transactions, and $1 million of compulsory liability insurance.

Depending on which level of financial planning you would like to practice, it would be optimal to complete certain courses and attain certification in order for your education, work experience and expertise to be acknowledged and qualified. Designation will also increase your chances of attaining higher positions and challenging professional work.

What are the duties for this occupation?

Financial Planners assist individuals and families in developing personal financial plans. They evaluate clients� net worth, financial resources, lifestyle preferences and goals, and make recommendations on the steps that the client may pursue to reach their financial goals. Financial Planners have a vast and thorough understanding of financial documents such as bank records, income tax returns, pension plan information, and wills. They are also knowledgeable about financial products that may be suitable for each client profile.

View the general occupation profile and employment outlook information as developed by the Government of Alberta � Alberta Learning: ALIS Occupation Profiles.

Please note that this is general information provided as guidance and companies may have different specific requirements in their job postings and job descriptions.

What titles or specialization areas correspond to this occupation?

Titles and positions that employers may post:

Also view the occupational profile of:
*Investment Advisor
*Investment Underwriter

How do I attain designation OR what courses should I take?

*Search Post-Secondary Educational Institutions in Alberta to see all programs and courses offered to individuals pursuing a finance career in Alberta: Alberta Learning Information Service - EDinfo

There are various courses that Financial Planners may decide to take to further their professional development and gain credibility. These include the Canadian Securities Course and the Canadian Investment Funds Course.

You may also acquire the Certified Financial Planner (CFP) designation through the Financial Planners Standards Council (FPSC). There are 4 steps to acquiring CFP designation:

1. Education (CFP courses offered by a FPSC approved institution)
2. Examination (held twice yearly in June and November)
3. Experience (2 years related work experience)
4. Ethics

The six-course CFP program is offered at the following institutions in Calgary:

*Mount Royal College offers CFP courses through their continuing education program.
*University of Calgary offers CFP courses through their continuing education program, as well as a CFP Exam Preparation course.
* Southern Alberta Institute of Technology (SAIT) offers the Financial Planning Certificate. Contact:

Wendy Brown
Coordinator, Applied Degrees and CGA Partnerships
1301 16th Avenue NW
Calgary, AB T2M 0L4
phone: 403.284.8789
fax: 403.284.7086
email: accelerated.accounting@sait.ab.ca 

NOTE: When you successfully complete a recognized Financial Planner program you are eligible to write the CFP Exam. Completing the financial planning courses will NOT award you the CFP designation.

Another designation to explore is the Financial Management Advisor (FMA), which is awarded to applicants by the Canadian Securities Institute once the following courses are complete:

*Canadian Securities Course
*Professional Financial Planning Course

What salary can I expect?

Financial Planners earn most of their income from fees charged to clients for developing financial
plans, speaking at conferences, and leading seminars and workshops. Planners who endorse and
sell financial products may also receive commission earnings.

According to the 2003 Alberta Wage and Salary Survey, the salary of Financial Planners and
Financial Officers ranged from $22,300 to $173,400 per year. The average salary was $53,900

What is the employment outlook in Calgary?

The Other Financial Officers occupational group (includes Financial Planners) employs over 7,300 Albertans. It is forecasted that 130-220 new positions will be created each year in addition to

What do employers expect beyond technical skills?

Financial Planners work with individuals and families in developing their personal financial plans.
They need to be personable, understanding and communicative. On top of being financially well
versed, Financial Planners understand the lifestyle needs and cultural factors that may affect
each client�s financial decisions.

Additional non-technical skills include:
*Understanding of internal audit technology tools, benchmarking for best practices, and knowledge
management.
*High self-motivation and comfortable working with individual clients and families.
*Detailed orientation with attention to accuracy along with timely delivery.
*Good interpersonal skills and ability to interact effectively
*Strong communication skills, including the ability to clearly, concisely and diplomatically communicate
over the telephone, in writing, and in person with clients and financial institutions
*Effective reading and comprehension skills (business memos, correspondence, policies and procedures).

READ MORE�Employer

WHAT YOU NEED TO DO:

Start Your Application for Licensing

Certified Financial Planner (CFP): begin the process of attaining your CFP designation by applying to a CFP program offered in your area, refer to the ones listed above.

Financial Management Advisor (FMA): requires various self-study coursework and exams to be completed. Begin the process by researching the FMA required courses and applying for the Canadian Securities Course, Professional Financial Planning Course and Wealth Management Techniques Course.

Canadian Investment Funds Course: this web-based program can be taken by registering at www.ifse.ca. (It is offered by the Canadian Institute of Financial Planning and Investment Funds Institute of Canada).

TIP: research the industry and specific jobs. Request information interviews and learn about the specific courses and licensing that different positions may