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Financial Planning:
Skills and Talents

The financial planning sector is booming and offers a variety of career options. This field deals with the largest markets of any kind in the world and call on the following skills:

Key Skill Area Requirement
People skills: High
Sales skills: Medium
Communication skills: High
Analytical skills: Medium
Ability to synthesize: High
Creative ability: Medium
Initiative: Medium
Work hours: 25-65/week


Commentary

College Degree Important in the Profession
If you're thinking about becoming a financial planner, you should have at least a bachelorís degree in a business related area. A serious school is better and will help you along the way. An MBA can be helpful but is not required at all.

Can Invest Directly or Indirectly
Money managers either directly make investments or help others by providing investment advice. If they are in the first business they are usually called portfolio managers. If they are in the second, they are generally called financial planners.

A Variety of Compensation Approaches Available for Planners
Financial planners can be compensated on a flat per-hour fee basis, a commission basis or both. The way you are paid in this business clearly affects the incentives you have with your customers.

It's Important to Have a Broad Understanding of Business
One of the exciting things about investing is that you get rewarded for knowing how business works. People who understand and enjoy business are among the most likely to succeed in this arena.

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