No. The industry is basically the slimy taking advantage of the clueless. Investing is a small body of knowledge. … Before hiring a financial planner of any kind, you need to do your own research to understand the right questions to ask so you know that his work is worth anything to you.
Just so, is financial planning a good career Reddit?
It is a good job with a great boss and decent pay and benefits. Very small shop and very few clients. I would never work in a sales job or for a big firm. On track to retire in 2 years, and what I learned in CFP school and on the job has helped me immensely in my own investing and staying the course.
In this way, is being a financial advisor hard Reddit?
There are a lot of reasons to not be a financial advisor, its a challenging job with a lot of responsibility, and finding new clients/assets, is really really hard, but dont let some negative opinions on the internet let you think it isn’t a viable career. TL:DR Don’t let that stuff hold you back.
Are financial planners worth it?
Here’s my take: If you have a comfortable emergency fund and can afford a financial advisor’s fee without going into debt, a financial planner might be a good investment. In fact, the planner’s fee may pay for itself in a few years if he or she helps you make better financial decisions in the meantime.
What is the difference between a financial planner and a financial advisor?
A financial planner is a professional who helps companies and individuals create a program to meet long-term financial goals. Financial advisor is a broader term for those who help manage your money including investments and other accounts.
Is financial advising dying?
First of all, the profession is growing, not dying. According to the Bureau of Labor Statistics Occupational Outlook Handbook, employment of finance planners is expected to increase by 7% from 2018 to 2028. This is higher than the average for all occupations, which is only 5%.
Is financial advisor a prestigious job?
The financial advisor career is among the best business jobs and best-paying jobs, according to U.S. News’ career rankings. It’s evolved “from a sales and product-driven profession to one centered on providing meaningful financial advice,” says Michael Purpura, president of Wealth Management at D.A. Davidson & Co.
Is financial planning a sales job?
CFPs are 95% a sales job. It’s not the only way to get started in finance/investment management. There’s equity research, fixed income research, quant, asset allocation jobs that are geared more down the r/cfa route. If you’re a god-tier salesperson, then financial planning can be very lucrative.
What is a fee-only certified financial planner?
A fee–only financial planner is paid directly by clients for their services, be it a flat fee, hourly rate or a percentage of assets under management. … Their fee–only pay structure means they do not receive commissions or other payments from the providers of financial products they recommend to clients.
How much does a financial advisor cost Reddit?
If you’d like, you can pay a fee-only advisor. You’ll pay them probably $200/hour to help you for a couple hours. It seems like an expensive hourly rate but it’s nowhere near expensive as giving away 6% of your money up front + .
Can you be a financial advisor without a degree Reddit?
You don’t need a finance degree, but if you think the entire business school is too competitive, not sure what makes you think the degree would hold you back from a business which is competitive for those business school kids. … I’m working to become a financial advisor.
How do financial advisors make money Reddit?
As an advisor, we get 40% of the commission we bring in. So for the 5.75% up front charge on A-share mutual funds, only 5% of that is actually commission. The company receives 3% and I received 2%. Their cut went towards operating expenses, such as my office and my assistant’s pay.