Financial Planners: How to Become One
If you were to ask a group of financial planners about how they arrived at their current job, there's a good chance you would get several different answers about the paths and steps that each person took.
That said, there are still ways that you can develop a baseline understanding of the preparation that is necessary to become one.
The Best Adult Colleges and Careers Guide has gathered data to provide you with insight into the type of education that's commonly required for financial planners to land a job. This page contains information, sourced from real job postings, that describes the experience levels and specific skills that employers of financial planners expect candidates to have. In the end, this information will help you create an education or professional development plan that aligns with your career aspirations.
Keep reading to learn more about career steps for financial planners.
What Education & Experience is Needed for Financial Planners?
Do financial planners need a degree? What kind of experience do financial planners typically need? Thanks to data sourced from Lightcast™ from real job postings, we can get some clarity on those questions, as well as the level of education that is commonly required for financial planners to secure jobs.
Education Level Required in Job Postings for Financial Planners
Jobs Postings for Financial Planners By Education
- Bachelor's degree: 39,278 (45%)
- No Education Listed: 21,510 (25%)
- High School or GED: 12,150 (14%)
- Master's degree: 8,155 (9%)
- Ph.D. or professional degree: 5,351 (6%)
A bachelor's degree is the level of education sought the most by employers of financial planners. According to job data, a bachelor's degree was required for 45% of positions. In 25% of job listings no education level was listed and in 14% of postings a High School diploma or GED was required.
Experience Level Required in Job Postings for Financial Planners
Jobs Postings for Financial Planners By Experience
- 0-1 Years: 9,114 (21%)
- 2-3 Years: 19,676 (46%)
- 4-6 Years: 9,606 (22%)
- 7-9 Years: 2,354 (5%)
- 10+ Years: 2,131 (5%)
While the amount of required experience will vary based on the responsibility and seniority of the position, an aggregate view of job posting data can help paint a picture of the experience level sought for most job openings for financial planners. In 46% of job postings for Financial Planners, employers were looking for candidates with 2-3 years of experience. In 22% of listings employers were looking for candidates with 4-6 years of experience, while 0-1 years of experience was sought in 21% of job postings for financial planners.
What Kind of Degree Do Financial Planners Need?
So far this page has provided detail into the level of education and the amount of experience required in job openings for financial planners, but what type of education or degree will help prepare you for a career in the field?
According to occupational data obtained through Lightcast,™ there are 7 key academic programs that can help prepare prospective financial planners, and in 2023 a total of 63,862 of those programs were completed at institutions in the United States.
Check out the information below to learn more about the specific programs that should be considered by prospective financial planners.
Top Degree Programs for Financial Planners
Top 5 Degree Programs for Financial Planners (2023)
| Program | Completions |
|---|---|
| Finance, General. | 50,779 |
| Financial Planning and Services. | 5,054 |
| Accounting and Finance. | 3,492 |
| Insurance. | 2,334 |
| Banking and Financial Support Services. | 1,034 |
| Program | Completions |
|---|---|
| Finance, General. | 50,779 |
| Financial Planning and Services. | 5,054 |
| Accounting and Finance. | 3,492 |
| Insurance. | 2,334 |
| Banking and Financial Support Services. | 1,034 |
| Accounting and Related Services, Other. | 795 |
| Investments and Securities. | 374 |
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What Skills Do Financial Planners Need?
Education and experience have been covered, so what are the specific skills and traits needed by financial planners to secure a job?
A good way to understand this is to examine actual job postings for skills commonly sought by employers. Continue reading for a breakdown of specialized skills found in job postings for financial planners, as well as common skills that can help you thrive in the workplace.
In-Demand Skills for Today's Financial Planners
Based on 73,805 job postings
Top 5 Specialized Skills for Financial Planners
| Skills | Postings | % of Total Postings |
|---|---|---|
| Financial Services | 22,390 | 30% |
| Investments | 21,284 | 29% |
| Finance | 15,763 | 21% |
| Financial Planning | 15,117 | 20% |
| Accounting | 13,549 | 18% |
Top 5 Common Skills for Financial Planners
| Skills | Postings | % of Total Postings |
|---|---|---|
| Communication | 28,729 | 39% |
| Customer Service | 19,002 | 26% |
| Sales | 18,913 | 26% |
| Management | 16,667 | 23% |
| Leadership | 15,466 | 21% |
Based on 73,805 job postings related to financial planners, financial services was the top specialized skill sought by employers, with 30% of all postings looking for that skillset. Skills for investments, finance, financial planning, accounting and wealth management were also highly sought.
As for common skills, communication was the most desired skill found in job postings for financial planners, followed by customer service, sales, management, leadership and planning.
| Skill | Postings | % of Total Postings |
|---|---|---|
| Financial Services | 22,390 | 30% |
| Investments | 21,284 | 29% |
| Finance | 15,763 | 21% |
| Financial Planning | 15,117 | 20% |
| Accounting | 13,549 | 18% |
| Wealth Management | 12,474 | 17% |
| Sales Prospecting | 8,577 | 12% |
| Marketing | 7,691 | 10% |
| Financial Industry Regulatory Authorities | 6,934 | 9% |
| Business Development | 6,336 | 9% |
| Customer Relationship Management | 5,682 | 8% |
| Billing | 5,523 | 7% |
| Loans | 5,474 | 7% |
| Auditing | 4,913 | 7% |
| Due Diligence | 4,722 | 6% |
| Securities (Finance) | 4,612 | 6% |
| Financial Market | 4,451 | 6% |
| Investment Management | 4,395 | 6% |
| Financial Statements | 4,213 | 6% |
| Portfolio Management | 4,119 | 6% |
| Skill | Postings | % of Total Postings |
|---|---|---|
| Communication | 28,729 | 39% |
| Customer Service | 19,002 | 26% |
| Sales | 18,913 | 26% |
| Management | 16,667 | 23% |
| Leadership | 15,466 | 21% |
| Planning | 15,028 | 20% |
| Presentations | 12,647 | 17% |
| Problem Solving | 11,730 | 16% |
| Microsoft Excel | 10,710 | 15% |
| Writing | 10,614 | 14% |
| Detail Oriented | 10,476 | 14% |
| Self-Motivation | 9,822 | 13% |
| Operations | 8,944 | 12% |
| Interpersonal Communications | 8,256 | 11% |
| Research | 8,228 | 11% |
| Microsoft Office | 8,224 | 11% |
| Coaching | 7,855 | 11% |
| Microsoft PowerPoint | 7,403 | 10% |
| Time Management | 7,277 | 10% |
| Multitasking | 7,055 | 10% |
Additional Links
Ready to dig deeper into career information about financial planners? Visit our other pages focused on salary and education for financial planners.
What do financial planners do?
How much do financial planners make?
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