A career in financial planning isn't just for finance grads ...

by Cassandra Jowett

When students think about careers in finance, they tend to think either Bay Street stockbroker or accountant. However, there is a significant range of jobs, and opportunities within the financial services industry despite the recent economic crash and ongoing recession.

To find out why financial services professionals are in such high demand and what’s required to become one (you don’t need a background in finance!), we asked Heather Mills from Financial Planning Standards Council to provide us with some information about the current and future prospects for financial planners.

Consider this: of the 17,500 Certified Financial Planner® professionals in Canada, 44% are over the age of 50 and will be retiring in the next 10-15 years.

However, only 10% of CFP professionals are under the age of 35. This means there are great opportunities for younger planners in terms of succeeding older planners as they transition out of their businesses.

Further feeding this unprecedented growth are Canadian demographics: more people are approaching retirement and need qualified and experienced planners to help them manage their financial resources and reach their financial and life goals.

If your degree has nothing to do with financial planning, don’t worry. People with degrees in education, political science, philosophy, social work, English, engineering, etc., can often bring a very unique perspective to financial planning.

Many Canadians are finding they don’t have the time or knowledge to contend with their finances by themselves and they’re looking for competent and ethical advice from professionals to assist them with meeting their life goals, such as paying off mortgages, buying a second property, planning their retirement and financial legacies and investment planning.

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