Become a Financial Planner

[Spock]

Am researching and am mostly going to start the education course for CFP (Certified Financial Planner).

Have been thinking as to what I want to do in the future and I dont see myself working as a technical or a business analyst in the future.

Am much more interested in finances and something that I am good at.

What are the job scopes for people who get the CFP designation and who are starting out.

Selkirk: Saxon doing well again

Good luck
Cheers !!!
Spock

 

[selkirk]

agree with you on Saxon Funds spock, as for me took some courses from the Canadian Securities Institute part time while I was studying Electronic Eng.

took Canadian Securities coarse, CPH (conduct and practices), and a few other courses dealing with options. getting your CFP is a good start. I studied business and economics as well, worked towards a degree part time.

as for the field would say you have to be good at sales, also if you have family and friends that would trust you with their money or part of it. besides sales you have to deal with stess.

I know a few brokers who have left during this bear market, some had to leave as the stress was killing them. One broker in Toronto I dealt with did not get me an IPO I wanted. He just let a few things slide, this is not good as a you have angry clients especially if they miss out on an easy 15-20%.

Also be carefull who you work for, do not peddle crap that you do not believe in, your friends will lose faith quickly.

would keep taking coarses and learning, every year make a few stupid mistakes, this year (will post about it) sold 75% of my holdings in a stock, happy with almost a double, only problem was it has just doubled again.

also I find the large brokerages are always short of people who are licensed to trade options, (maybe take a few extra coarses would not hurt). same story for commodities. also good to learn for yourself.

believe there would be a little less stress as a Financial planner at a bank, rather than a brokerage. Know someone who worked at a bank built up a list of clients and then went to brokerage. not a bad way to start if you can.

good luck spock
thanks
selkirk

 

[Spock]

thanx for your post selkirk. Always appreciate your insights.

I had been looking at CFA (Certified Financial Analyst) .. one of my friends is doing this.

Want to start doing something proactively.

I have transferred my money from the bond funds and the income trusts in the RRSP to Saxon. The brokerage (Enorthern) is now charging $50 + GST per year for the self directed RRSP account and I will take this one time hit and transfer the money out.

As for sales I am good at it. Good at talking and good at understanding people. As for family and friends have no family in Canada . .. lots of friends take advice from me now also (bosses at work included). Mebbe I can manage Dr. StrangeLove's account. That should set me up for life.

Have a good understanding of finance which should help.

Am thinking of taking the required educational courses @ http://www.ifse.ca/Desktop/English/General/Edu_Programs/curriculum2.asp

The courses are web based which is more suited for me since my job involves having to travel outside the country for 3-4 months a year (most of the time). Also have to travel to different clients so hard to go to a classroom.

Am also talking to couple of CFP's including the guys who manage my company group RRSP. They work for BMO Nesbitt Burns.

Cheers !!!
Spock

 

[Spock]

Spoke with the lady @ the CFP office .. FPSC office also ..

also talked with the guy who manages my company group rrsp ..

he knows that I have a good knowledge in this field and has invited me to his office to meet the manager and talk more.

Will be doing that sometime in next month or so. So far the response has been +ve.

Will keep everyone posted.

Cheers !!!
Spock