financialtreat – will explain about Know Your Salary and Financial Planning which you will get in the following article. let’s look at this article carefully!
The task of a financial planner is very heavy unlike what we think, so when this financial planning person has a high salary, what is the Financial Planning Salary, curious we will review this on this occasion.
This Financial Planner salary is in accordance with what they do, as from the definition of a financial planner who manages and manages your finances even better in your future.
Get to Know the Financial Planning Salary
If you want and are looking for a financial planner so that you are not in vain you need to know some of the characteristics of this financial planning. Why a good financial planner will help plan his client’s finances by looking at all aspects and financial situations that the client is facing.
Generally, a financial planner will provide general or general planning. However, if the client needs a more detailed financial plan, the client can choose to use a certain specialization financial planner according to the desired details.
Types and Characteristics of Financial Planning
Financial planners can work individually, institutionally, or work in large companies. The financial planning carried out can include many things such as investments, old-age savings, taxes, monthly expenses, to a residence plan.
You need to know, the definition above is more towards the profession of an independent financial planner. In general, the financial planner profession is indeed divided into two types, namely independent financial planners and dependent financial planners.
An independent financial planner means that it is not tied to a financial services company such as a bank, insurance, or investment manager. Usually, independent financial planners have one separate forum, namely a financial consulting company. As the name suggests, this kind of company offers financial consulting services.
Then what about dependent financial planners? They join financial services companies such as banks, insurance, or investment managers to sell certain financial products. Understandable isn’t it?
Dependent Financial Planner
• Dependent Financial Planning Tasks
In addition to planning, the financial planner must also convey and help carry out the entire plan that has been made.
A mature financial plan can be submitte and explaind in advance to the client. The financial planner must also ask for an opinion from the client whether it is in accordance with his wishes or not.
Not only conveying and explaining, financial planners must also help carry out plans that have been mutually agree upon. Some plans that can be helpe such as opening additional accounts, managing assets, and other things that can help manage the finances of their clients.
• • Dependent Financial Planning Responsibilities
The main responsibility that must be carrie out by the financial planner is to make financial planning for the client. In short, a financial planner becomes a bridge for his clients in achieving their financial goals.
• • Third Duty of Responsibility
The financial planner also has the responsibility to evaluate the financial condition of his clients. Points that need to be evaluate can include assets, savings, expenses, income, installments, and other needs that are relate to their finances. That way, financial planners can find out where the financial mistakes experience by their clients lie.
• • Last Duty of Responsibility
Independent financial planners do not sell a specific financial product, but are only limite to providing advice.
Well, next we will discuss about the roles and responsibilities that a dependent financial planner must do.here we will discuss in detail below, let’s see the review below.
Roles and Responsibilities
- Plan and set dreams, priority scales, and financial goals that his clients want to achieve.
- Helping its clients to be able to manage, manage and process their finances appropriately so that they are not large stakes rather than poles.
- Provide an overview of the allocation of funds, adjusting lifestyles to financial conditions, to providing an overview and preparation of early investment that will help their financial situation in old age.
- Research and re-monitor predetermine financial plans.
- Providing solutions to financial problems face by its clients.
Well, next we will discuss about the Knowledge and Expertise of a Financial Planning person that a dependent financial planner must do.here we will discuss in detail below, let’s see the review below.
Knowledge and Expertise of a Financial Planning Person
- Mastering economics and investment
- Good concentration ability
- Able to be detail-oriente
- Good accounting analysis
- Time management capabilities
- Persuasion ability
As already mentione, financial planners are divide into independent financial planners and dependent financial planners. In general, their career path depends on the company they work for and the duration of experience. Here’s just an overview of an example of his second career path:
• 1. Independent financial planner
Independent financial planner: an example of a financial planner career path in one of the financial consulting firms, namely junior planner, senior consultant, associate, then financial advisor.
• 2. Dependent financial planner
Dependent financial planner: an example of a financial planner career path in an insurance company is an agent, agency manager, senior agency manager, then agency director.
Further information that you must know what are the benefits and guarantees when we use a financial planner.
Use a Financial Planner to Help With Financial Planning
• Use Robo-Advisors for Simple Financial Planning
Simple but not wisely manage financial planning can be a big problem. Therefore, even though it looks simple, there is nothing wrong if you take advantage of the digital platform, Robo-Advisors.
This financial planner is driven by computer algorithms with little human assistance. His role is exactly the same as that of a financial planner. Even Robo-Advisors can help with the initial step in determining goals and asset allocation.
Usually Robo-Advisors are use by individuals who have a simple portfolio or novice investors who have simple financial planning. But don’t worry about costs, because Robo-Advisros has not too large rates, so it is good for your start in planning finances.
Although the target of this digital platform is novice investors, knowlege of investments and their implications for the options chosen by Robo-Advisors users is neede. In addition, you also have to understand your own financial condition.
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• Consultation with a Personal Financial Planner
A personal financial planner is a professional who has the ability and is certifie to help plan finances at a more complicate level. Everyone can make a lot of money by working hard, but not everyone can plan and manage their finances well. Generally, this financial planner can be assesse base on the position in the company and adjust to the needs of the client.
For financial planner employees, approximately they will be paid Rp. 3 million / month, the salary continues to crawl up according to the position they have, until the executives who are usually value with tens or hundreds of millions of rupiah. However, if you judge from the time count, it can be describe that a financial planner has a value of Rp. 300,000 to Rp. 750,000 / hour.
Then we will also discuss about some of the conditions that must be considere by a financial planner.
Eligibility Requirements for a Financial Planne Person
The difference between a financial planner. And a financial advisor is that a financial advisor enters into the role and duties of a financial planner. While a financial planner is a broader meaning than just an advisor. In addition, a person or institution can only be referre to as a financial planner when he has a Certifie Financial Planner (CFP).
A person who has earne a CFP, means that he has gone through a long process. CfP will only be awarde to those who have graduate, then have three years of work experience in planning. As well as complete courses to obtain an accounting or legal license. Then meet ethical standards which include eight ethical principles, 37 ethical regulations and standards of practice.
The series of exams are organize by the Financial Planning Standards Board (FSPB). If he is declared passe, the name of a financial planner will be on the list of professional CFP members. To maintain the certification, CFP holders must comply with the code of ethics and procedures that have been made. If it violates, then the certification can be revoke.
Thus, I conveye this review about some of these Financial Planning Salaries. This information is not only limited to getting to know the salary. But also provides information on how to choose a good financial service for you. That’s all what I said above, hopefully it will be useful.