Certified Financial Planner Salary Canada – Are you interested in enjoying other people’s money? Want to give advice based on research? Do you respect privacy? Then you may want to invest in a career as a financial planner.
Financial planners develop financial plans for individuals and families. They analyze customers’ values, financial resources, lifestyle choices, and goals. They recommend ways for clients to achieve their financial goals.
Certified Financial Planner Salary Canada
In Canada, federal government agencies also regulate occupations based on the National Occupational Classification (NOC) system. This job may not reflect the entire NOC team it belongs to. NOC organizational data can serve many functions.
Financial Planner: Occupations In Alberta
The NOC system is updated every 5 years to reflect changes in the labor market. Government forms and labor market data may include returns to other jobs, depending on the system used. Here’s how this profession has been distributed over time:
In Alberta, this occupation is part of 1 or more groups of the 2006 National Occupational Classification (NOC). If there are multiple related NOCs, select the NOC title to learn about each one.
Desire to obtain information from customers such as bank account information, pension plan and other employee benefit information, tax information, insurance policies and related documents; It can also regulate the sale of financial and investment products based on the license held, and monitor portfolios to ensure quality and profitability.
Interest in consulting clients on money management, finance, coverage, investment, retirement and estate planning and tax and legal matters; and help expand business and attract new customers
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It is based on the Canadian Job Performance Index (CWPI), which measures 5 career needs: Leadership, Initiative, Method, Purpose, and Social.
You were born with abilities that help you process certain types of information and turn them into action. These limitations affect the skills you can easily learn.
The skills or abilities demonstrated for this NOC category are derived from the General Ability Test Battery (GATB). The GATB measures 9 dimensions. It divides them into three categories: cognitive, visual, and physical.
Financial planners create plans for clients to achieve their financial goals. They describe and compare financial products such as mutual funds, insurance, or other securities. They help customers:
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Some clients create financial plans to implement themselves. Others choose to have financial planners set up plans for them. To implement the plan, financial planners may work with or refer clients to other financial services or professionals such as:
Some offer financial advice to the public. They write columns for newspapers or appear on television or radio shows.
Financial planners can work alone or with others. They can work in full office facilities or from home. Most financial planners travel to meetings at clients’ homes or businesses.
In Alberta, this occupation is part of 1 or more groups of the 2016 National Occupational Classification (NOC). If there are multiple related NOCs, select the NOC title to learn about each one.
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This chart shows which job skills are currently in highest demand for this job group. This was done using these 18 recent jobs in Alberta, collected between November 28, 2021 and Feb 01, 2023.
There is no minimum entry requirement. However, experience in the financial industry is recommended. Those who want to get a Certificate in Finance (CFP) need a bachelor’s degree.
Candidates can continue their studies by attending courses at designated universities and colleges. They can also take courses through distance learning or on the Internet. For example, they can take courses at the Canadian Defense Institute.
The following schools offer programs or courses related to this profession but are not required to enter the field.
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Completion of the program does not guarantee employment. Before enrolling in an academic program, prospective students should explore various options for educational and career opportunities. For example, contact organizations and employers in this field.
The Certified Financial Planner (CFP) certification is becoming a standard requirement for most financial planning jobs in financial institutions. Many job postings list CFP as a requirement, especially for positions that work with high-net-worth clients.
Under the Alberta Securities Act [pdf], you must be registered with the Alberta Securities Commission (ASC) to deal in, advise on, and manage funds and securities.
Some professional titles or roles in this profession are protected by provincial legislation. The requirements are different if you use these labels or perform these tasks.
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The relevant legislation is shown below. If there are multiple relevant laws, select a certification title to learn about each one.
Insurance agents assess people’s financial needs and advise them on how to protect themselves from financial loss. They may represent insurance companies directly or as independent agents. They sell life, property, casualty, auto, or health insurance policies to individuals, businesses, or public institutions.
Under the Alberta Insurance Act [pdf] and the Insurance Agents and Regulation Act [pdf], you must be licensed by the Alberta Insurance Council (AIC) to sell insurance in Alberta.
Some financial planners work with small businesses on financial planning. Some choose self-employment. Some work full-time or contract their services to large companies and organizations such as:
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Professional financial planners may specialize in one area of financial planning, such as retirement planning or wealth management. They may also move into supervisory or management positions in large companies or professional organizations.
This section shows the industries where most of this occupation is employed. The data is based on the 2016 census.
© iStock.com/filadendron OCCinfo Job Outlook Job Outlook is influenced by various factors. Find out how these factors can affect your career decision.
The labor force is expected to experience a national-average annual growth of 1.6% from 2019 to 2023. In addition to jobs created through job changes, 233 new positions are expected in this category as well as employees each year .
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Note NOC groups often include several related functions. Although there is labor market information for the larger NOC group, this job only covers part of that group. This means that the information of this profession may differ from the information presented. For example, only a few new positions will be created for this profession. This also applies to other information for the NOC organization such as the number of people employed.
Job growth is expected to increase as baby boomers retire over the next few years.
Freelancers may charge a fee for their services, earn commissions on the products they sell, or both.
Fee-for-service planners charge by the hour or offer a flat rate for the complete process. They may rely on system specifications or the value of the client’s assets.
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Unless otherwise noted, the information shown here is for all industries and all regions in Alberta. All salary estimates are hourly except where indicated. Labor and wages do not include overtime hours, tips, benefits, profit sharing, bonuses (not related to production), and other forms of compensation. To see the full salary profile of this NOC category, visit salary profile. Other Salary Sources For detailed salary information and salary advice, search other salary sources [pdf] to supplement this information.
Safe Reliability, represents a CV between 6.01% and 15.00% and/or less than 30 surveys and/or if the survey represents less than 50% of all work estimated for the project.
* All salary estimates are hourly except where indicated. Labor and wages do not include overtime, tips, benefits, profit sharing, bonuses (not related to production) and other forms of compensation.
Updated March 31, 2022. This profile information is current as of the dates shown. Salary, working conditions, and educational program information are subject to change without notice. You are advised to verify this information before making any professional decisions. This is a great time to be a personal financial advisor. Employment is expected to grow 15% from 2016 to 2026, which is “faster than the average for all occupations,” according to the Bureau of Labor Statistics.
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The reason: “As the population ages and life expectancies increase, the demand for financial planning services should increase,” says the BLS.
Not only do they have a good job, they also have a good salary. The average salary for a financial advisor is more than $90,000 a year, the BLS reports. And in some states, it’s even higher — as a new photo released Wednesday by HowMuch.net shows.
In fact, financial advisors in New York collect more than $166,000 a year, while those in California pull in more than $144,000 a year.
The gig also ranks on many “best practices” lists. In fact, US News ranked him No. 9 on the “Best Jobs in Business” list for 2019 – and without a doubt, it has good career prospects and often offers a work-life balance.
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And Kiplinger listed it among his best future projects, noting that “baby boomers, in particular, are ripe for more professional help as they prepare to retire and join the crowd.”
Of course, there are also some major disadvantages in this field: The work is associated with a high level of stress, and consultants always sell themselves to find and keep new clients.
And in some states, the salary is not as high as in Sabon
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