A day in the life of a financial planner


I recently found myself talking to a gentleman who has been part of the great resignation that has taken place over the past few years. He had become disenchanted with the business rush and wanted to pursue other options such as becoming a planner.

I sent him a link to the New Planner podcast as he was discussing this exact situation. He seemed to have a good overall grasp of the business. Most advisors typically work in general retirement planning early in their careers. Career nuances such as tax planning, charitable giving strategies, and estate planning are usually honed after many years in the profession.

For those interested in financial planning as a profession, I would highly recommend an internship if you want to better understand the business.

From a professional point of view, there are many options available to you. Some will seek employment in the industry through the larger companies, hoping to get an offer as a training broker. Others may start at a registered investment advisory firm as a financial planning intern. From there, you will go through the licensing process which will likely take around 6 months or more depending on the type of advisor you become.

Once you have obtained your license, I strongly recommend that you pursue the CFP designation. A certified financial planner must work on behalf of an individual as a fiduciary. This means that they must put the customer first at all times. In my mind, taking the time to earn advanced designations in any profession shows that the individual cared enough about their chosen field to commit to the long hours of study required to complete these important programs.

Like any new business, it takes time to build a level of skill and confidence to earn a following as an advisor. I once heard of the “1,000 Day Principle” on the Tropical MBA podcast, which suggests that it usually takes 1,000 days in many new business ventures to start earning a decent living. It is not guaranteed, of course! As a financial planner, your days are often filled working with clients and answering questions ranging from retirement planning to estate planning and everything in between.

The best part of the business is seeing the families you work with succeed over multiple generations. Knowing that you have been part of a successful family is very gratifying. Along with great relationships, you also have a lot of paperwork, note taking, and heavy compliance that comes with the business. Some of these tasks can be delegated, but not usually in the early years of a career.

In volatile markets like the ones we know, you will need to regularly contact your customers. A combination of empathy, professionalism and the ability to provide clear advice and perspective in difficult times is what separates average advisors from the best in class. Having forecasted rainy days as part of the overall asset allocation is also very useful.

For those interested in learning more about planning as a career, I would suggest checking out the Financial Planning Association website and the CFP Board website for plenty of information. Good luck in your endeavors!

Eric Tashlein is a Certified Financial Planning Professional, Founder and Financial Advisor at Connecticut Capital Management Group, LLC, 2 Schooner Lane, Suite 1-12, Milford. He can be reached at 203-877-1520 or via www.connecticutcapital.com. Connecticut Capital Management Group, LLC “CCMG” is a registered investment adviser. The information presented is for educational purposes only and is not intended to make an offer or solicitation for the sale or purchase of any specific securities, investments or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult a qualified financial advisor and/or tax professional before implementing any strategy described here. Past performance is not indicative of future performance. “CCMG” may discuss and display charts, graphs, formulas and stock picks that are not intended for use alone in determining which securities to buy or sell, or when to buy or sell them. These charts and graphs provide limited information and should not be relied on alone to make investment decisions. “CCMG” and Connecticut Benefits Group, LLC are not affiliated.


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