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Become A Certified Personal Finance Counselor

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Working As A Certified Personal Finance Counselor

  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Interacting With Computers
  • Making Decisions and Solving Problems
  • Establishing and Maintaining Interpersonal Relationships
  • Mostly Sitting

  • $65,970

    Average Salary

Example Of What A Certified Personal Finance Counselor does

  • Analyzed client financial information to check for ways to help with their monthly expenses.
  • Provided ongoing assistance with company client with their debt management program.
  • Verified client information, updated records and balances, and mailed out correspondence pertaining to the Debt Management Program.
  • Provided regular reports to alert client on their investments performance.
  • Complete budget analysis, counsel callers for appropriate solutions, deliver information, recommendations and resources to callers in financial crisis.
  • Educated clients on short term and long term financial goals and recommended investments.
  • Answered inbound calls from new clients with the goal of welcoming them into the program.
  • Used strong customer service skills to negotiate with individuals to bring current their Mortgages and unsecured debt, increasing profit.
  • Conducted financial assessments with clients.
  • Analyze personal finances and credit reports.
  • Exceed monthly revenue targets by over 115% month over month Professional Experience:

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How To Become A Certified Personal Finance Counselor

Personal financial advisors typically need a bachelor’s degree. A master’s degree and certification can improve one’s chances for advancement in the occupation.

Education

Personal financial advisors typically need a bachelor’s degree. Although employers usually do not require personal financial advisors to have completed a specific course of study, a degree in finance, economics, accounting, business, mathematics, or law is good preparation for this occupation. Courses in investments, taxes, estate planning, and risk management are also helpful. Programs in financial planning are becoming more available in colleges and universities.

Training

Once they are hired, personal financial advisors often enter an on-the-job training period. During this time, new advisors work under the supervision of senior advisors and learn how to perform their duties, including building a client network and developing investment portfolios. This training usually lasts for more than a year.

Licenses, Certifications, and Registrations

Personal financial advisors who directly buy or sell stocks, bonds, or insurance policies, or who provide specific investment advice, need a combination of licenses that varies with the products they sell. In addition to being required to have those licenses, advisors in smaller firms that manage clients’ investments must be registered with state regulators and those in larger firms must be registered with the Securities and Exchange Commission. Personal financial advisors who choose to sell insurance need licenses issued by state boards. Information on state licensing board requirements for registered investment advisors is available from the North American Securities Administrators Association.

Certifications can enhance a personal financial advisor’s reputation and can help bring in new clients. The Certified Financial Planner Board of Standards offers the Certified Financial Planner (CFP) certification. For this certification, advisors must have a bachelor’s degree, complete at least 3 years of relevant work experience, pass an exam, and agree to adhere to a code of ethics. The exam covers the financial planning process, insurance and risk management, employee benefits planning, taxes and retirement planning, investment and real estate planning, debt management, planning liability, emergency fund reserves, and statistical modeling.

Advancement

A master’s degree in an area such as finance or business administration can improve a personal financial advisor’s chances of moving into a management position and attracting new clients.

Important Qualities

Analytical skills. In determining an investment portfolio for a client, personal financial advisors must be able to take into account a range of information, including economic trends, regulatory changes, and the client’s comfort with risky decisions.

Interpersonal skills. A major part of a personal financial advisor’s job is making clients feel comfortable. Advisors must establish trust with clients and respond well to their questions and concerns.

Math skills. Personal financial advisors should be good at mathematics because they constantly work with numbers. They determine the amount invested, how that amount has grown or decreased over time, and how a portfolio is distributed among different investments.

Sales skills. To expand their base of clients, personal financial advisors must be convincing and persistent in selling their services.

Speaking skills. Personal financial advisors interact with clients every day. They must explain complex financial concepts in understandable language.

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Certified Personal Finance Counselor jobs

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Certified Personal Finance Counselor Typical Career Paths

Certified Personal Finance Counselor Demographics

Gender

  • Female

    60.0%
  • Male

    37.5%
  • Unknown

    2.5%

Ethnicity

  • White

    72.9%
  • Hispanic or Latino

    23.2%
  • Asian

    3.3%
  • Unknown

    0.4%
  • Black or African American

    0.2%
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Languages Spoken

  • Spanish

    100.0%

Certified Personal Finance Counselor

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Certified Personal Finance Counselor Education

Certified Personal Finance Counselor

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Top Skills for A Certified Personal Finance Counselor

DebtManagementProgramBankruptcyCertificatesCustomerServiceCompleteBudgetAnalysisFinancialInformationInboundCallsCurrentFinancialSituationComplianceHUDMonthlySalesReportsCheckConsumerCreditClientAgreementsPersonalFinancesDebtLiquidationActionPlanPCCreditReportsMonthlyRevenueTargetsFinancialGoalsAlertClient

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Top Certified Personal Finance Counselor Skills

  1. Debt Management Program
  2. Bankruptcy Certificates
  3. Customer Service
You can check out examples of real life uses of top skills on resumes here:
  • Provided ongoing assistance with company client with their debt management program.
  • Received Customer Service Award for outstanding service of positive customer feedback.
  • Complete budget analysis, counsel callers for appropriate solutions, deliver information, recommendations and resources to callers in financial crisis.
  • Collected and analyzed clients' financial information and conduct a detailed review of their income, assets, liabilities and expenses.
  • Answered inbound calls from new clients with the goal of welcoming them into the program.

Top Certified Personal Finance Counselor Employers

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