Financial Planning Manager in North Dakota Career Overview

As a Financial Planning Manager, you play a vital role in guiding individuals and organizations towards financial stability and growth. Your responsibilities typically include:

  • Developing and implementing financial plans tailored to meet clients' unique needs and goals.
  • Analyzing financial data to assess risk and make informed recommendations.
  • Collaborating with various departments to ensure cohesive financial strategies.
  • Keeping abreast of industry trends, regulations, and market conditions to provide relevant advice.
  • Cultivating and maintaining relationships with clients, promoting trust and customer satisfaction.

Your expertise significantly influences clients' financial decisions and overall financial health, making this role essential in the financial services industry. By helping clients navigate complex financial landscapes, you contribute to their long-term success and financial security.

Financial Planning Manager Salary in North Dakota

Annual Median: $127,570
Hourly Median: $61.33

Data sourced from Career One Stop, provided by the BLS Occupational Employment and Wage Statistics wage estimates.

Required Education To Become a Financial Planning Manager in North Dakota

To become a Financial Planning Manager in North Dakota, you typically need to obtain a relevant degree and may also pursue additional certifications. The following college degree programs are beneficial for this career path:

  • Finance: This degree will provide you with a solid foundation in financial analysis, investment strategies, and risk management.

  • Financial Planning and Services: This specialized program focuses on the skills necessary for personal and corporate financial planning, including taxation, retirement, and estate planning.

  • Banking and Financial Support Services: This degree emphasizes the banking sector's role alongside financial management principles, offering insights into loans, credit, and the overall financial services industry.

  • Business Administration and Management: A degree in this field offers a broader understanding of business operations, management principles, and organizational behavior, which are essential for managing a financial planning team.

  • Accounting and Finance: This dual focus ensures you gain expertise in financial reporting, auditing, and taxation, which are critical for effective financial planning and analysis.

In addition to obtaining a bachelor's degree in one of these areas, many Financial Planning Managers further enhance their qualifications through certifications such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA). Pursuing these certifications often requires completing specific coursework and passing rigorous examinations.

Best Schools to become a Financial Planning Manager in North Dakota 2024

#1Maricopa County

University of Phoenix-Arizona

Phoenix, AZ

In-State Tuition:$9,552
Out-of-State Tuition:$9,552
Admission Rate:N/A
Graduation Rate:18%
Total Enrollment:88,891
#2Merrimack County

Southern New Hampshire University

Manchester, NH

In-State Tuition:$15,000
Out-of-State Tuition:$15,000
Admission Rate:96%
Graduation Rate:41%
Total Enrollment:164,091
#3Salt Lake County

Western Governors University

Salt Lake City, UT

In-State Tuition:$7,404
Out-of-State Tuition:$7,404
Admission Rate:N/A
Graduation Rate:49%
Total Enrollment:156,935
#4El Paso County

Colorado Technical University-Colorado Springs

Colorado Springs, CO

In-State Tuition:$12,036
Out-of-State Tuition:$12,036
Admission Rate:N/A
Graduation Rate:20%
Total Enrollment:24,808
#5Maricopa County

Grand Canyon University

Phoenix, AZ

In-State Tuition:$16,407
Out-of-State Tuition:$16,407
Admission Rate:78%
Graduation Rate:45%
Total Enrollment:101,816
#6Lynchburg City

Liberty University

Lynchburg, VA

In-State Tuition:$15,467
Out-of-State Tuition:$15,467
Admission Rate:99%
Graduation Rate:66%
Total Enrollment:96,709
Financial Planning Manager Job Description:
  • Direct financial activities, such as planning, procurement, and investments for all or part of an organization.

Financial Planning Manager Required Skills and Competencies in North Dakota

  • Analytical Skills: You must be able to interpret complex financial data, identify trends, and provide actionable insights. This involves a strong command of quantitative analysis and the ability to assess financial performance.

  • Financial Acumen: A deep understanding of financial principles, investment strategies, and market trends is essential. This includes expertise in budgeting, forecasting, and financial reporting.

  • Technical Proficiency: Familiarity with financial planning software and tools is important. You should be skilled in using spreadsheet applications, as well as financial modeling and analysis software.

  • Communication Skills: You need to convey complex financial concepts clearly and concisely to clients, stakeholders, and team members. Strong written and verbal communication abilities are critical for effective presentations and reports.

  • Interpersonal Skills: Building and maintaining client relationships is key. You should demonstrate strong networking abilities and empathy to understand client needs, fostering trust and rapport.

  • Problem-Solving Skills: You should be adept at developing solutions to financial challenges, which requires creative thinking and the ability to think critically under pressure.

  • Attention to Detail: Precision is vital in financial planning. You must be meticulous in your work to avoid errors that could significantly impact financial outcomes.

  • Strategic Thinking: You need to develop long-term financial strategies that align with your clients' goals. This requires the ability to anticipate market changes and adjust plans accordingly.

  • Regulatory Knowledge: Familiarity with relevant financial regulations and compliance issues is necessary to ensure that your practices meet legal requirements.

  • Leadership Skills: If overseeing a team, strong leadership abilities are important. You should be able to motivate others, delegate tasks, and manage performance effectively.

Job Duties for Financial Planning Managers

  • Delegate authority for the receipt, disbursement, banking, protection, and custody of funds, securities, and financial instruments.

  • Develop and maintain relationships with banking, insurance, and external accounting personnel to facilitate financial activities.

  • Evaluate needs for procurement of funds and investment of surpluses and make appropriate recommendations.

Technologies and Skills Used by Financial Planning Managers

Accounting software

  • Intuit QuickBooks
  • Sage 50 Accounting

Enterprise resource planning ERP software

  • Microsoft Dynamics
  • SAP software

Presentation software

  • Microsoft PowerPoint

Basic Skills

  • Reading work related information
  • Thinking about the pros and cons of different ways to solve a problem

People and Technology Systems

  • Measuring how well a system is working and how to improve 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

Job Market and Opportunities for Financial Planning Manager in North Dakota

The job market for Financial Planning Managers in North Dakota presents a favorable outlook, driven by various factors that contribute to ample opportunities in this field.

  • Demand for Financial Planning Services: As individuals and businesses increasingly recognize the importance of financial stability and growth, the demand for qualified financial planning professionals continues to rise. Financial Planning Managers are essential in guiding clients through investment strategies, retirement planning, and overall financial management.

  • Growth Potential: The financial services industry is expected to experience steady growth in North Dakota. Factors include:

    • An aging population that requires retirement planning and wealth management.
    • Small business growth, necessitating financial strategic planning and advisory services.
    • Economic diversification in the state, opening new avenues for financial services and planning.

  • Geographical Hotspots: Certain areas in North Dakota are more conducive to financial planning careers, providing greater job opportunities:

    • Fargo-Moorhead: This region is the largest metropolitan area in the state, housing various financial institutions and firms, leading to a higher demand for financial managers.
    • Bismarck: The state capital has a growing business sector, including industries that require financial planning expertise.
    • Grand Forks: With a strong local economy and multiple universities, there is a demand for financial professionals who can cater to the needs of the educational institutions and local businesses.

  • Networking and Professional Communities: Engaging with local finance-related organizations and business networks can open doors for career growth. Being part of these communities can lead to job opportunities and collaborations with other professionals in the field.

  • Emerging Trends: The rise of technology in financial services, including fintech solutions, presents new roles and potential for Financial Planning Managers. Staying informed about technological advancements in the industry will enhance your career prospects and adaptability.

By aligning your career strategy with these market dynamics, you can position yourself favorably within North Dakota's evolving financial planning landscape.

Top Related Careers to Financial Planning Manager 2024

Procurement Manager
Chief Financial Officer
Investment Manager

Additional Resources To Help You Become a Financial Planning Manager in North Dakota

  • Certified Financial Planner Board of Standards (CFP Board)
    Access resources related to certification, industry standards, and best practices in financial planning.
    CFP Board

  • Financial Planning Association (FPA)
    A professional organization that provides information on networking opportunities, industry trends, and continuing education for financial planners.
    FPA

  • National Association of Personal Financial Advisors (NAPFA)
    Learn about fee-only financial planning and gain access to tools, resources, and a directory of advisors.
    NAPFA

  • Investopedia
    This site offers detailed articles on financial planning strategies, investment options, and budgeting techniques.
    Investopedia

  • American Institute of CPAs (AICPA)
    Explore resources for financial professionals that include best practices, networking, and continuing education opportunities.
    AICPA

  • Financial Planning Standards Board (FPSB)
    Find global standards and resources for financial planning, including certification programs and career guidance.
    FPSB

  • North Dakota Securities Department
    Stay informed about state regulations, licensing requirements, and investment resources specific to North Dakota.
    ND Securities Department

  • Book: "Financial Planning: A Guide for Your Personal Finances"
    This book offers insights into managing personal finances and could serve as a useful tool for aspiring financial planning managers.

  • LinkedIn Learning
    Access online courses and tutorials on financial planning, investment strategies, and professional development in finance.
    LinkedIn Learning

  • Coursera
    Participate in courses offered by top universities and institutions on financial planning, investment management, and personal finance.
    Coursera

Utilizing these resources can enhance your knowledge and skills as a Financial Planning Manager and help you stay current in the field.

Frequently Asked Questions (FAQs) About Financial Planning Manager in North Dakota

  • What does a Financial Planning Manager do?
    A Financial Planning Manager is responsible for developing financial plans and strategies for individuals or organizations. This role involves analyzing financial data, assessing economic factors, and guiding clients on investment decisions to achieve their financial goals.

  • What qualifications are needed to become a Financial Planning Manager in North Dakota?
    Typically, a bachelor's degree in finance, accounting, or a related field is required. Additionally, obtaining certifications such as Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) can enhance your qualifications and job prospects.

  • What skills are important for a Financial Planning Manager?
    Key skills include strong analytical abilities, effective communication, attention to detail, knowledge of financial software, and a solid understanding of investment principles and financial markets.

  • What is the job outlook for Financial Planning Managers in North Dakota?
    The job outlook is favorable, as the demand for financial planning services continues to grow. As more individuals and businesses seek financial advice, the need for skilled Financial Planning Managers is expected to increase.

  • What is the average salary for a Financial Planning Manager in North Dakota?
    The average salary for a Financial Planning Manager in North Dakota can vary, but it generally falls between $85,000 and $120,000 annually, depending on experience, education, and the size of the organization.

  • Can I work as a Financial Planning Manager without a certification?
    While it is possible to work in a financial planning role without certification, obtaining credentials like CFP or CFA can significantly enhance your credibility and career advancement opportunities.

  • What are the typical work environments for Financial Planning Managers?
    Financial Planning Managers can work in various settings, including financial institutions, accounting firms, insurance companies, or as independent advisors. Many also work remotely or in a hybrid capacity.

  • Do Financial Planning Managers work with clients directly?
    Yes, Financial Planning Managers often meet with clients to discuss their financial goals, assess their current financial situations, and provide personalized recommendations based on their analysis.

  • What opportunities exist for advancement in this career?
    Advancement opportunities can include moving into senior management positions, becoming a partner in a financial firm, or establishing your own practice. Continuous education and obtaining advanced certifications can also facilitate career growth.

  • How can I gain experience in financial planning?
    Gaining experience can be achieved through internships, entry-level positions in finance-related fields, or seeking mentorship from established financial professionals. Additionally, participating in workshops and networking events can be beneficial.