From the course: Financial Planning and Wealth Management Fundamentals

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Financial planning: Role and skills

Financial planning: Role and skills

From the course: Financial Planning and Wealth Management Fundamentals

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Financial planning: Role and skills

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Now, let's get into these roles and let's start off with financial planning. A financial planner is gonna work either for a financial institution like a bank or be an entrepreneur with their own practice. Regardless, the FP is gonna be networking, prospecting and working to convert leads into clients around the clock. With each client, they're going to develop a deep understanding of what the client's financial and lifestyle goals are, what their budget should look like according to the client and what amount the client should be saving and investing in order to meet the goals that they've expressed. Now, the next part of a financial planner's job is investment management. So in addition to the budgeting and cashflow components, the advisor will have also assessed and documented the client's risk tolerance as well as investment objectives. They're then gonna take those two things and recommend an investment strategy that's gonna help the client's portfolio to grow to the level that's…

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