What does a Financial Planner do?

Financial planners are also called wealth management advisors and are responsible for the analysis of a company or an individual to identify their financial risk, reward, or opportunities. They are experts in regulation and best practices and in the various financial products that are available to investors on the market.

Financial planners are responsible for the analysis of financial status, the development of budgets, and the preparation of analyst reports that pertain to their clients and duties. They perform evaluations of their clients’ financial documents, including their income, expenses, and their liabilities, and provide support and financial guidance. They inform clients about any relevant topics or investments including financial insurance or investment planning. They work with clients to create their financial plans and budgets, and they track their clients’ financial needs and circumstances. When called upon, they will also make the necessary and requested adjustments to a client's investments or plans according to changes in their finances or due to life circumstances. They also prepare financial and business analysis reports and research-based presentations. Financial planners have a bachelor’s degree and completed college coursework from a CFP Board-registered program, and they have completed a minimum of 6,000 hours of professional financial planning experience or 4,000 hours as an apprentice.

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Average Years of Experience

0 - 1
3%
2 - 4
79%
5 - 7
3%
8+
15%

Common Skill Sets

Excellent Communication
Series 63
.NET
Credibility
Series 65
Computer Literacy
Attention To Detail
Bilingual

Financial Planner Seniority Levels

Financial Analyst
8% made the transition
Financial Consultant
6% made the transition
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Financial Planner Salaries

Average Base Pay

CA$65,564 /yr
Same as national average
Not including cash compensation
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CA$46k
Median: CA$66k
CA$94k
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Glassdoor Estimated Salary

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