Adviser Qualifications

Adviser qualifications

Working in financial planning offers:

  • Job satisfaction
  • A way to help New Zealanders fulfil their financial lifestyle dreams
  • Challenge
  • Personal and professional growth
  • The chance to generate a good income
  • Career opportunities
As a financial planner you are not just working with numbers but also with people, and some may remain your clients from the moment they start work until they retire.

You will learn about their hopes and goals and create strategies to help them achieve these goals by:

  • Providing a holistic approach to financial planning
  • Having an extensive knowledge of financial markets
  • Understanding trends and identifying potential risks
  • Taking a global outlook

What is financial planning?

Financial planning is investigating and deciding on the best way to make your money work for you. This is done by working out what you want to achieve, how you might achieve it and understanding any problems you might encounter along the way.

To assist you with this, a professional financial planner may offer advice on investments, estate planning, retirement planning, taxation and risk management and use a six-step process to help you work out what you may need to do now and in the future to reach your financial goals.

What does a financial planner do?

Financial planners determine a client's short, medium and long-term aspirations then work on an agreed financial plan to meet individual needs. They have strong people skills and are good listeners.

The financial planner and client review the plan regularly to keep it on track and update it as appropriate. As a financial planner, you will use the six-steps of the financial planning process. These are:

  1. Gathering your client's financial data, including details on income, debt levels, financial commitments and so on.
  2. Identifying your client's goals. These may include buying a house, funding education, travel, etc.
  3. Identifying any financial issues.
  4. Preparing a financial plan that identifies recommended investments and pays heed to the client's attitude to risk.
  5. Implementing the financial plan.
  6. Reviewing and revising the plan to ensure it stays up-to-date and relevant to the economic climate and the client's changing lifestyle.

What are the specific services a financial planner provides?

A financial planner can offer general wealth-creation advice and assistance across all financial markets, or specialise in areas such as:

  • Retirement planning
  • Estate planning
  • Small business financial management and planning
  • Trusts
  • Taxation
  • Investing on the stock market
  • Debt and risk management
  • Core, life and general insurance
  • Managed investments, securities and futures markets

Is financial planning a growth industry?

Yes! Financial planning is a dynamic profession in which strong careers can be established.

As New Zealand's population ages, people are becoming much more aware that their retirement security and comfort will depend more on them and their financial planning efforts, than on government welfare benefits.

What should I do next?

You can learn more about becoming a financial planner and future career opportunities by contacting John Commins at Professional Investment Services (NZ) on JohnC@profinvest.co.nz

Source: A Career in Financial Planning: Your Questions Answered - Financial Planning Association of Australia