May 27, 2011

5 Ways to Get Started in a Career in Financial Planning

Financial planning can be a very lucrative and rewarding career, especially for those who like dealing with money. Financial training is only one element of building a successful career. Often when we get started in something new, it is the foundation and the way that we start that can have a large impact on our progress and development, in terms of both speed and quality. Don't confuse issues of speed and quality; some people just manage to do things faster and better at the same time. Just because something is taking you a long time, does not mean that you are doing it better. Here are some of the issues that you should consider.

·  Networking. Can either be in the physical sense and/or online. It may be hard to build your network of people and groups before you are involved in the industry, or due to your location in the beginning, and so take advantage of online social networking and online professional networking sites to rapidly develop your network and pick up knowledge of your new found career path.
· Online research. It is amazing what you can research, read and study for free, informally and formally online. Some formal education programs can be lengthy, a good example is that of traditional universities. The same amount of study of a 3 year degree could be executed by an intelligent adult in a number of weeks if they were dedicated. Increase your own knowledge with unlimited information at your own pace.
·  Education. Financial courses are extremely important, in terms of your abilities in a specialised field and in the legal requirements that you will need to operate. You may need a certain amount of education in your region to operate on your own or inside a large company. Find out the legal requirements and get the education that you need. Education does not have to be limited to that. Education is always ongoing, and so keeping up-to-date with constant study is a must-do issue for anyone who is serious.
· Work experience. Hands on experience in any existing business to get a feel for your direction and the real day-to-day issues can be of great benefit. Getting the right work experience is essential. Work experience does not have to mean free, and if you are serious, an internship is another option. Converting your existing experience in business and the workplace may not be as difficult as you assumed.
·  Entrepreneurial. Many financial planners operate as individuals or in smaller companies. Even those working in larger companies are often expected to develop their position much like someone operating their career as if it was a business inside a business. Getting entrepreneurial skills and knowledge will probably highly assist you with your career and development. Whether it be maintaining existing relationships, seeing and knowing how to convert them, and all importantly, closing deals.
Use all the resources that you have now, and are available, and make a radical change in your career or start a new one.

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