Current Issues With Financial Planners Essay

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What is a Financial Planner? A Financial Planner is one who helps manage money and is involved with the overall success in achieving financial needs, goals, and will guide one to a better and more secure retirement. The process of Financial Planning is: 1. Determine financial situation 2. Develop financial goals 3. Identify alternative courses of action 4. Evaluate your alternatives 5. Create and implement your financial plan 6. Review and revise your plan. (1) Financial Planning Careers There are a number of financial service careers and two that are growing and critical in the field of finance are becoming a Financial Adviser (FA) and Certified Financial Planner (CFP®). An FA may have…show more content…
Broker/Dealer Broker/dealer is a term used to describe an individual or company that is licensed to buy and sell investment products for clients. Some large companies sell securities they own (dealers), while others only buy and sell secuirities for investors (broker). Chartered Financial Analyst® (CFA®) CFAs are securities analysts, money managers and investment advisers who have completed the CFA program. CFA® chartered holders are required to commit to high ethical standards just like a CFP®. Chartered Financial Consultant (ChFC) ChFCs are financial professionals who have passed The American College's eight course education program, met experience requirements and agreed to the code of ethics. Fee-Based Financial Adviser An Adviser who is compensated both by fees paid by the client and commissions that are contingent on the purchase or sale of financial products. Fee-Only Financial Adviser An adviser who is compensated solely by the client, with neither the adviser nor any related party receiving compensation that is contingent on the purchase or sale of financial products. Financial (Securities) Analyst These are professionals usually employed by investment institutions to conduct research and analyze the value of securities and financial condition of a company, group of companies or industry sector. Based on their analysis, analysts with make investment recommendation to buy, sell or hold a given stock. Investment Adviser Investment advisers

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