Financial planning is essentially making the right financial decisions for your future. The best example of how financial planning works is to think of investing in your retirement plan today, so that you would have enough to pay for medical and other needs as you get older. Financial planning is not an abstract notion; it is real and critically important. Not everyone knows how and where to invest their assets so that they will grow over time. There are professionals called financial planners and advisors who are educated and licensed to make those investment decisions for you.
Why Study Financial Planning?
Handling other peoples' money is serious business. Helping your client(s) make the right investment decisions today for the sake of a better tomorrow could be a very fulfilling experience. The profession itself is challenging as well as growing. Majoring in financial planning may be a wise career move.
Bachelor in Financial Planning Degree
This degree is a 4-year, 120 credits, full-time degree program, and it prepares students for careers in financial planning in financial institutions, private practice, and social and governmental agencies. The curriculum draws heavily from multiple disciplines like finance, business, communications, economics, and accounting.
General Admission Requirements
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High school diploma or a GED
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SAT/ACT scores
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Essay
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Minimum cumulative GPA
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Personal statement
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Letters of recommendation
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TOEFL (for international applicants)
The degree may also be offered online, and this option may have less stringent admission requirements.
Example of Courses Offered
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Professional Development in Personal Financial Planning
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Risk Management & Insurance Planning
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Fundamentals of Asset Management
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Estate Planning
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Wealth Management
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Retirement Planning
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Marketing, Sales & Social Media
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Special Topics in Personal Financial Planning
Learning Objectives
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Develop written communication skills in financial planning.
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Develop long-term recommendations and strategies for a comprehensive financial plan.
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Apply strategies to efficiently distribute and preserve accumulated wealth.
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Apply financial planning techniques and strategies to maximize the present value of the client's after-tax net worth.
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Apply techniques and strategies to manage financial exposure due to business or personal risk.
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Analyze ethical issues in the financial planning profession.
Specializations
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Risk Management
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Insurance
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Retirement and Estate Planning
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Employee Benefits
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Investments
Career options
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Investment Consultant
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Personal Financial Specialist
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Estate Planning Professional
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Risk Management Advisor
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Wealth Management Advisor
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Income Tax Planning Advisor
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Retirement Counselor
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Employee Benefit Consultant
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Personal Financial Advisor
Personal Financial Advisor
In general, they give financial advice to their clients. More specifically, they help them make the right insurance, taxes, and investment decisions. They typically hold a bachelor's degree and are also licensed to perform their duties. The U.S. Bureau of Labor Statistics (BLS) reports that they earned a median yearly salary of $67,520 in 2012. The BLS further predicts that their job numbers are expected to grow at the rate of 27% faster than the average growth for all other occupations from 2012 to 2022.