Career

Best Financial Planner Schools 2024

Learn everything you need to know about becoming a Financial Planner, including salary, schools, and programs.

Explore Financial Planner Schools (2024)

Looking to start your journey as a Financial Planner? Finding the right education is key. Here's a curated list of schools offering quality Financial Planner programs:

  • We've identified top institutions known for excellent Financial Planner education.
  • Options include both local schools and nationally recognized programs.
  • Each listing highlights relevant degree programs for aspiring Financial Planner professionals.
  • You'll also find information on related career paths in the field.

Browse through these options to find a program that aligns with your career goals in the Financial Planner industry.

Top Financial Planner Schools in the U.S. (2024)

#1New York County

CUNY Bernard M Baruch College

New York, NY

In-State Tuition:$6,930
Out-of-State Tuition:$14,880
Admission Rate:50%
Graduation Rate:74%
Total Enrollment:19,854
#2Franklin County

Ohio State University-Main Campus

Columbus, OH

In-State Tuition:$11,525
Out-of-State Tuition:$35,782
Admission Rate:53%
Graduation Rate:88%
Total Enrollment:60,540
#3Miami-Dade County

Florida International University

Miami, FL

In-State Tuition:$4,721
Out-of-State Tuition:$16,529
Admission Rate:64%
Graduation Rate:69%
Total Enrollment:55,609
#4Duval County

Florida State College at Jacksonville

Jacksonville, FL

In-State Tuition:$2,095
Out-of-State Tuition:$7,947
Admission Rate:N/A
Graduation Rate:37%
Total Enrollment:20,363
#5Leon County

Florida State University

Tallahassee, FL

In-State Tuition:$4,640
Out-of-State Tuition:$19,084
Admission Rate:25%
Graduation Rate:85%
Total Enrollment:44,161
#6Philadelphia County

University of Pennsylvania

Philadelphia, PA

In-State Tuition:$56,212
Out-of-State Tuition:$56,212
Admission Rate:7%
Graduation Rate:96%
Total Enrollment:28,201

Financial Planner Required Education (2024)

To pursue a career as a Financial Planner, you need to meet certain educational criteria. Here are the minimum and advanced education options available to you:

Minimum Education Requirements

  • Bachelor's Degree:

    • Obtain a bachelor's degree from an accredited institution. Common majors include finance, accounting, business administration, or economics.

    Advanced Education Options

  • Master's Degree:

    • Consider pursuing a Master's in Business Administration (MBA) with a concentration in finance or a Master’s in Finance. This can deepen your expertise and enhance your career prospects.

  • Graduate Certificate Programs:

    • Enroll in a graduate certificate program in financial planning or related areas. These programs can supplement your knowledge and skills in specific areas of finance.

  • Doctoral Programs:

    • If you are interested in academia or advanced research positions, consider pursuing a doctorate in finance or a related field.

By focusing on these educational paths, you will build a solid foundation for a successful career as a Financial Planner.

Financial Planner Professional Certifications & Licenses (2024)

To establish yourself as a Financial Planner, you will typically need the following certifications and licenses:

  • Certified Financial Planner (CFP®)

    • This certification is often considered the gold standard in financial planning. To earn the CFP® designation, you must complete education requirements, pass the CFP® exam, hold a bachelor's degree, and have at least three years of relevant financial planning experience.

  • Chartered Financial Consultant (ChFC®)

    • The ChFC® designation focuses on comprehensive financial planning, investments, and insurance. Candidates must complete a series of courses and pass exams.

  • Chartered Financial Analyst (CFA)

    • While primarily geared toward investment professionals, the CFA designation provides an in-depth understanding of investment analysis, portfolio management, and financial markets. This certification requires passing three rigorous exams.

  • Certified Public Accountant (CPA)

    • A CPA can greatly enhance your credibility and expertise, particularly in tax planning. You must meet specific education requirements, pass the Uniform CPA Examination, and obtain a state license.

  • Registered Investment Adviser (RIA)

    • To give investment advice, you may need to register as an RIA with the Securities and Exchange Commission (SEC) or state regulators. This typically requires passing the Series 65 exam or holding a qualifying professional designation.

  • Series 7 License

    • If you plan to sell securities, you'll need this license, which requires passing an exam administered by the Financial Industry Regulatory Authority (FINRA). The Series 7 allows you to trade in a broad range of investment products.

  • Series 63 License

    • This state-specific license is necessary for individuals who want to operate as securities agents. It involves passing a multiple-choice exam on state securities regulations.

  • Life and Health Insurance License

    • If your financial planning services include insurance, obtaining this license is essential. Each state has its own requirements for applying and passing an exam.

  • Accredited Financial Counselor (AFC®)

    • This credential specializes in personal finance and counseling, focusing on budgeting and consumer debt. You need to complete an education requirement and pass an examination.

  • Certified Retirement Counselor (CRC®)

    • To specialize in retirement planning, the CRC® designation can enhance your qualifications. You will need to complete coursework and pass a certification exam.

Before pursuing these certifications and licenses, it’s important to research specific state requirements, as regulations may vary.

Job Duties for Financial Planners

  • Analyze monthly department budgeting and accounting reports to maintain expenditure controls.

  • Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.

  • Summarize budgets and submit recommendations for the approval or disapproval of funds requests.

Technologies and Skills Used by Financial Planners

Data base user interface and query software

  • Microsoft Access
  • Structured query language SQL

Enterprise resource planning ERP software

  • Microsoft Dynamics GP
  • Sage Active Planner

Presentation software

  • Microsoft PowerPoint
  • SAP Crystal Xcelsius

Basic Skills

  • Listening to others, not interrupting, and asking good questions
  • Reading work related information

People and Technology Systems

  • Figuring out how a system should work and how changes in the future will affect it
  • Thinking about the pros and cons of different options and picking the best one

Problem Solving

  • Noticing a problem and figuring out the best way to solve it

Financial Planner Internships, Apprenticeships & Practical Training

Gaining hands-on experience in financial planning can significantly enhance your career prospects. Here are several avenues through which you can obtain practical training:

  • Internships at Financial Advisory Firms: Many financial advisory firms offer internships to students or recent graduates. These positions typically involve assisting with client meetings, preparing financial plans, and conducting market research. Seek out opportunities at both large firms and smaller independent practices to diversify your experience.

  • Corporate Finance Internships: Larger corporations may have finance departments that offer internships focused on corporate financial management. These internships can provide insight into budgeting, forecasting, and strategic financial planning, all of which are valuable to a future financial planner.

  • Public Accounting Firms: Interning at a public accounting firm can provide you with a strong foundation in financial principles, tax preparation, and compliance. These skills are beneficial when advising clients on financial matters, as you will understand the implications of various tax strategies.

  • Banking Internships: Consider internships with banks, particularly in wealth management or personal finance departments. You can gain exposure to investment products, lending, and customer service, which are key components of financial planning.

  • Investment Firms: Look for internships at investment firms or asset management companies. These roles may involve analyzing investment portfolios, researching stocks or bonds, and assisting financial advisors. This experience will provide insights into how investment decisions impact overall financial planning.

  • Non-Profit Organizations: Some non-profit organizations offer internships focused on financial literacy programs. Working in this environment can enhance your understanding of budgeting and finances from a community perspective while improving your communication skills in explaining complex concepts.

  • Job Shadowing: If formal internships are not available, seek opportunities to job shadow established financial planners. This can provide a real-world perspective of daily tasks and client interactions, helping to clarify your career aspirations.

  • Apprenticeships through Professional Organizations: Some professional affiliations, like the Financial Planning Association (FPA), may offer apprenticeship programs that connect students with experienced financial planners for mentorship and training. These positions may provide structured learning objectives and real-world experience.

  • Regulatory Bodies and Government Agencies: Consider internships with agencies like the Securities and Exchange Commission (SEC) or the Financial Industry Regulatory Authority (FINRA). While these roles may not focus on financial planning directly, understanding regulatory perspectives can be invaluable for compliance in your future career.

Pursuing these practical training options will deepen your knowledge of financial planning, develop essential skills, and enhance your network, all of which are vital as you embark on a career as a financial planner.

Financial Planner Continuing Education & Professional Development (2024)

As a financial planner, engaging in continuing education and professional development is essential for enhancing your skills, staying abreast of industry trends, and meeting certification requirements. Here are various avenues to consider:

  • Professional Certifications

    • Certified Financial Planner (CFP®): A well-recognized designation that requires passing a comprehensive exam, gaining relevant work experience, and completing continuing education (CE) hours periodically.
    • Chartered Financial Analyst (CFA): Ideal for those focusing on investment management, this designation necessitates rigorous exams and a deep understanding of financial analysis.
    • Chartered Life Underwriter (CLU): Focuses on life insurance and related financial planning aspects, enhancing your understanding of risk management and estate planning.
    • Certified Retirement Counselor (CRC): Aimed at professionals who assist clients with retirement planning, this certification ensures expertise in retirement-related financial issues.

  • Continuing Education Courses

    • Enroll in CE courses approved by regulatory bodies to maintain your certifications. These courses often cover topics such as tax laws, investment strategies, and ethical practices.
    • Online platforms and professional associations frequently offer webinars, workshops, and seminars that are both convenient and relevant to your practice.

  • Professional Associations

    • Join associations like the Financial Planning Association (FPA) or the National Association of Personal Financial Advisors (NAPFA). Membership often provides access to exclusive educational resources, networking opportunities, and conferences.
    • Participate in local chapter events to engage with peers and gain insights into regional market trends.

  • Networking Opportunities

    • Attend industry conferences and conventions to meet professionals from various backgrounds. This not only helps in knowledge sharing but can also lead to potential partnerships and collaborative efforts.
    • Consider local investment clubs or discussion groups where financial topics are analyzed and debated.

  • Specialized Workshops and Seminars

    • Regularly participate in specialized workshops that target niche areas within financial planning such as estate planning, tax planning, or behavioral finance.
    • Look for seminars led by industry leaders that can provide fresh perspectives and innovative strategies.

  • Academic Pursuits

    • Consider advanced degrees such as a Master’s in Business Administration (MBA) or a Master’s in Finance. These programs often include specialized courses that can further enhance your expertise.
    • Institutions may offer non-degree certificates and programs specifically designed for financial planners.

  • Technology Training

    • Stay updated on financial planning software and tools that can streamline your operations and improve client engagement. Courses and tutorials are available through software providers.
    • Familiarize yourself with emerging fintech products and services that could benefit your clients.

  • Self-Study and Research

    • Dedicate time to reading industry publications, research papers, and books to keep your knowledge current. Subscribing to financial journals or magazines can provide valuable insights.
    • Engage with online forums or discussion groups for continuous learning and exchanging ideas with fellow professionals.

Fostering your growth as a financial planner through these educational and professional development avenues will position you to better serve your clients and advance your career in this dynamic field.

What To Look For When Deciding On Campus vs Online Degree Programs for Financial Planners (2024)

When considering a career as a Financial Planner, you can choose between online and campus-based education programs. Each option has its distinct advantages and disadvantages.

Online Education Programs

  • Flexibility: Online programs often allow you to complete coursework on your own schedule, making it easier to balance education with work or personal commitments.
  • Accessibility: You can access lectures and materials from anywhere, which can be beneficial if you live in a remote area or have mobility constraints.
  • Self-Paced Learning: Many online programs offer self-paced courses, allowing you to progress through the material at your own speed.
  • Variety of Options: Online education provides a wide range of programs from different institutions, giving you the opportunity to find one that fits your needs in terms of specialization and format.
  • Technology Utilization: Engaging with online tools and resources enhances your tech skills, which are increasingly important in the financial planning industry.
  • Networking Opportunities: Some online programs use forums and virtual events to connect students and professionals, but may offer fewer face-to-face networking opportunities compared to campus programs.

Campus-Based Education Programs

  • Structured Environment: Traditional campus programs typically follow a fixed schedule, which may help you maintain a routine and discipline in your studies.
  • Direct Interaction: You benefit from immediate access to professors and classmates, fostering a collaborative learning environment and enhancing relationship-building.
  • Hands-On Experience: Campus programs often include labs or on-site workshops, allowing for practical experience, which is advantageous in learning financial planning tools and software.
  • Campus Resources: Utilizing on-campus resources like libraries, labs, and career services can enhance your educational experience and provide support in job placement after graduation.
  • Networking Events: Being on campus increases your chances of connecting with professionals in person through events, workshops, and guest lectures, enriching your network.
  • Extracurricular Involvement: You can engage in campus organizations or clubs relevant to financial planning, which can enhance your resume and provide valuable skills.

Both online and campus-based education programs have their merits. Choosing the right fit for your lifestyle, learning style, and career goals is essential for maximizing your education in financial planning. Consider your individual circumstances, including work commitments and learning preferences, to make an informed decision.

Financial Planner Typical Career Path (2024)

As you embark on a career in financial planning, your journey typically unfolds through several key stages, starting from entry-level positions and advancing to senior roles. Each stage offers unique responsibilities and opportunities for growth.

Entry-Level Positions

  • Financial Analyst: In this role, you will gather and analyze financial data to assist senior planners in developing comprehensive financial strategies. You may work with software tools and prepare reports to summarize findings.

  • Paraplanner: This position focuses on supporting financial planners in client interactions and the preparation of financial plans. You'll help gather client information, organize data, and ensure all necessary documentation is complete.

  • Client Service Associate: A client service associate works closely with clients and financial planners to maintain relationships. Your tasks may involve scheduling appointments, answering client inquiries, and managing account-related paperwork.

Mid-Level Positions

  • Financial Planner: As a fully qualified financial planner, you will engage directly with clients to evaluate their financial situations, recommend strategies, and help implement financial plans. This role requires a deeper understanding of investment products, tax laws, and estate planning.

  • Wealth Manager: Wealth managers typically serve high-net-worth clients, focusing on investment management and personalized financial strategies. You will assess clients’ financial goals and create tailored portfolios to meet those objectives.

  • Investment Advisor: In this role, you provide clients with insight into various investment options, risk assessment, and portfolio management. A strong foundation in market trends and investment strategies is essential.

Advanced Roles

  • Senior Financial Planner: You will take on more complex client cases and may oversee a team of junior planners or paraplanners. This role involves strategic decision-making and may include mentoring staff and contributing to the firm’s overall financial strategies.

  • Director of Financial Planning: As a director, you will be responsible for leading the financial planning department. This includes developing policies, driving client acquisition strategies, and ensuring the delivery of high-quality services.

  • Chief Financial Officer (CFO): If your career trajectory leads you to this executive position, you will oversee all financial operations of the organization, devising strategies to enhance financial performance and ensuring compliance with regulations.

  • Independent Financial Planner: Some professionals choose to create their own practice, working independently to serve clients. This path entails not only financial planning expertise but also strong entrepreneurial skills to manage a business effectively.

As you progress in your financial planning career, you may take on specialized certifications and credentials, such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA), which can enhance your expertise and client service offerings.

Related Fields and Alternative Career Paths to Financial Planners (2024)

As a Financial Planner, your education and skill set can open doors to several related fields and alternative career paths. Here are some careers that share common educational backgrounds or transferable skills:

  • Investment Advisor

    • Focuses on managing clients' investment portfolios and providing recommendations based on market trends and financial goals. Knowledge of asset allocation and risk management is essential.

  • Tax Consultant

    • Specializes in tax planning and preparation, helping clients minimize their tax liabilities. A strong understanding of tax laws and regulations built during financial planning education can be directly applied.

  • Wealth Manager

    • Works closely with high-net-worth individuals to strategize their financial investments, estate planning, and retirement goals. This role involves many skills acquired in financial planning, particularly in client relationship management and investment strategies.

  • Financial Analyst

    • Analyzes financial data to guide businesses in making informed decisions. Your background in financial planning equips you with strong analytical skills and an understanding of financial statements and market behaviors.

  • Insurance Agent

    • Offers various insurance products to clients while assessing their financial risk. Knowledge of personal finance and client needs assessment will enhance your effectiveness in this role.

  • Corporate Financial Planner

    • Works within a corporation to handle financial forecasting, budgeting, and advising on investment opportunities or cost-management strategies. Skills in financial modeling and strategic planning from your education will be applicable.

  • Real Estate Financial Analyst

    • Evaluates real estate investments by conducting market research, analyzing property values, and assisting with financial modeling for real estate transactions. Skills in investment analysis can easily transition into this role.

  • Retirement Plan Specialist

    • Focuses on designing and managing employee retirement plans, providing guidance to organizations and employees on retirement savings options. Insights gained in financial planning about retirement accounts and savings strategies are essential.

  • Financial Educator or Coach

    • Provides one-on-one or group education to individuals seeking to improve their financial literacy. Your background in financial planning can be leveraged to help others understand budgeting, investment strategies, and retirement planning.

Educational backgrounds in finance, economics, or business can generally facilitate a smooth transition into these roles. Additionally, obtaining relevant certifications or licenses (like the Chartered Financial Analyst (CFA), Certified Public Accountant (CPA), or Certified Financial Planner (CFP)) can further enhance your qualifications for these positions. As you explore these paths, consider how your skills in client communication, financial analysis, and strategic planning can be valuable assets in a range of financial careers.

Financial Planner Frequently Asked Questions (FAQs) (2024)

  • What education is required to become a financial planner?
    You typically need at least a bachelor's degree in finance, accounting, business, economics, or a related field to start a career as a financial planner.

  • Is a master’s degree necessary for a financial planner?
    While a master’s degree is not mandatory, obtaining an MBA or a master’s in finance can enhance your knowledge, skills, and marketability in the field.

  • What certifications should I pursue as a financial planner?
    Consider obtaining the Certified Financial Planner (CFP) designation, which requires passing a comprehensive exam, completing specific educational coursework, and gaining relevant work experience.

  • Are there specific courses that are essential for financial planners?
    Yes, courses in investments, estate planning, tax strategies, and retirement planning are crucial for developing essential skills and knowledge in these areas.

  • Do I need to pass any exams to become a financial planner?
    If you pursue the CFP certification, you must pass the CFP exam. Additionally, if you sell financial products, you may need to pass licensing exams, such as the Series 7 or Series 66.

  • How much experience do I need before becoming a financial planner?
    Most certification programs, including the CFP, require you to have at least three years of relevant financial planning experience to ensure you are prepared for client-facing responsibilities.

  • Can I become a financial planner without a college degree?
    While it is challenging to establish a career without a degree, some individuals begin by obtaining relevant certifications and gaining experience from entry-level positions in finance or related fields.

  • What continuing education is required for financial planners?
    Once certified, financial planners are typically required to complete continuing education courses every two years to maintain their CFP designation and stay updated on industry changes.

  • Are online degree programs acceptable for aspiring financial planners?
    Yes, accredited online degree programs in finance or related fields are acceptable, provided they meet the educational requirements for certification.

  • Is networking important in the financial planning field?
    Yes, networking is essential as it can lead to job opportunities, client referrals, and valuable partnerships within the financial industry. Joining professional organizations can help you connect with other professionals.

Additional Resources for Financial Planners (2024)

  • Certified Financial Planner Board of Standards (CFP Board)

    • Website: www.cfp.net
    • This organization sets the standards for financial planning education and certification. You can find information on approved academic programs, certification requirements, and resources for continuing education.

  • National Association of Personal Financial Advisors (NAPFA)

    • Website: www.napfa.org
    • NAPFA is a professional association for fee-only financial advisors. Their site offers resources on best practices, educational materials, and networking opportunities for aspiring financial planners.

  • Financial Planning Association (FPA)

    • Website: www.onefpa.org
    • The FPA provides resources for both consumers and professionals, including access to educational content, certifications, and events for networking and learning.

  • Investopedia - Become a Financial Planner

    • Website: www.investopedia.com
    • This article offers insights into the educational path, skills needed, and nuances of being a financial planner, along with additional resources for career exploration.

  • American Association of Individual Investors (AAII)

    • Website: www.aaii.com
    • AAII provides educational resources focused on investment strategies, personal finance, and wealth management, which are crucial for financial planners.

  • State Financial Regulatory Agencies

    • Website: www.nasaa.org
    • The North American Securities Administrators Association provides links to state-specific information, including licensing requirements for financial planners, ensuring you meet local regulations.

  • Khan Academy - Personal Finance

    • Website: www.khanacademy.org
    • This educational platform offers free courses on personal finance, investment principles, and money management, which are essential topics for financial planners.

  • The College for Financial Planning

    • Website: www.cffp.edu
    • This institution offers a variety of degree and certification programs tailored for aspiring financial planners, including an accredited CFP® certification program.

  • CFA Institute

    • Website: www.cfainstitute.org
    • While primarily focused on investment management, the CFA Institute provides extensive resources on financial analysis, economics, and ethics, which are important for any financial planner.

  • Society of Financial Service Professionals (FSP)

    • Website: www.sfsp.org
    • FSP offers education, professional development, and networking opportunities specifically for financial planning and related professions.

  • Finra

    • Website: www.finra.org
    • The Financial Industry Regulatory Authority provides essential information on regulatory requirements and offers resources for obtaining necessary licenses in the financial planning field.

These resources provide authoritative and relevant information that can further enhance your understanding and qualifications within the financial planning profession.