Five Reasons Why Financial Planning is a Great Career for
Women
Special to The Truth
As Americans have
increasingly realized they need competent, professional
advice about how to manage their money, financial planning
has grown significantly as a profession over the past
several decades.
Yet, only 23 percent of
the more than 83,000 Certified Financial Planner (CFP)
professionals today are female, even as women control more
than one-third of the wealth in the U.S. This means there’s
both a tremendous opportunity, as well as need, for more
female financial planners.
Here are five benefits of
financial planning careers that make them a great fit for
women, according to those in the industry:
1. Work-life balance:
Financial planning careers offer the flexibility to balance
professional demands with your personal life, whether you
are making time for family or for other activities that are
important to you.
2. Opportunity to make a
difference: Financial planners are often key parts of their
communities and enjoy the satisfaction of helping people in
important, life-changing ways. By taking a holistic look at
their clients’ finances, they help families build wealth,
manage financial challenges and achieve their goals.
“I think this is such a
great field for women because we naturally want to take care
of people. Becoming a financial planner is just another way
of helping people out -- but in the money department,” says
Brittany Castro, a Los-Angeles-based CFP professional.
3. Financial stability:
Financial planning careers offer excellent income potential
that is comparable to other distinguished careers. According
to the Bureau of Labor Statistics (BLS), the median pay for
personal financial planners is $89,000.
4. Freedom to shape your
own path: You may choose to work for a large firm, a small
company, a bank or a broker dealer. Or, you may decide to
start your own business. Roughly one in five personal
financial planners are self-employed, according to the BLS.
“The beautiful thing about
being a CFP pro is that we’re still blazing trails. It’s
still a very young profession, so you can make this career
anything you want,” says Rianka Dorsainvil, a CFP
professional in Washington, D.C.
5. Room for growth: The
BLS projects that the financial advisory industry, including
financial planning, will grow 15 percent between 2016 and
2026. That’s 4 percent higher growth than other occupations
are projected to experience. This high demand for financial
planning services, coupled with an aging current workforce,
means there is long-term opportunity and room for growth
within the profession.
Financial planning is a
satisfying career for many women already -- 72 percent of
women who earned the CFP certification are very satisfied
with their jobs, according to research from the CFP Board
Center for Financial Planning. For more information on how
to join the ranks, visit: cfp.net/become-a-cfp-professional.
Offering growth potential,
work-life balance and the freedom to chart your own
professional path, financial planning is a career that
provides many tangible perks.
Courtesy StatePoint
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