Would You Like a Financial Planner Salary?

A financial planner salary might offer more than you think.

Feb 15, 2014 at 1:00PM

Looking for a good job? The folks at CareerCast.com have a "Jobs Rated 2013" list you can peruse. CNNMoney.com has a list, too, of the 100 "Best Jobs in America," featuring "big growth, great pay, and satisfying work." Salary.com has its own list of the "50 Best Jobs in America." You might notice some careers that offer solid compensation popping up on all the lists -- for example, the average financial planner salary puts the profession in the upper rankings.

What's involved
Financial planners review their clients' finances and draft plans to help them reach their financial goals, such as having enough to retire on and/or putting some kids through college. This may include securing certain insurance, rejiggering investments, and creating and adding to retirement accounts.

It's easy for just about anyone to call themselves financial planners, but to inspire the most confidence in your clients and up your salary, too, you might want to become a certified financial planner, which entails passing a series of exams and keeping up with developments via continuing education. CFPs must also adhere to a set of standards, and they have a fiduciary duty to their clients: to put their interests first. (There may still be conflicts of interest, especially if they earn commissions by selling certain products to clients, so we at The Motley Fool have long recommended fee-only planners.)

If you go down this road, you might start out working for a large financial-services company and then later go into business for yourself, perhaps specializing in retirement planning or issues related to same-sex couples.

The financial planner salary
The financial planner salary will vary to some degree, of course, and different sources present different averages. But it's still well above the median per-capita income in America, which was recently below $30,000. Being a financial planner also offers nonfinancial rewards, such as knowing that you're helping your clients improve their financial standing and build stronger futures.

U.S. News & World Report lists the median salary for financial advisors at $67,250 but also notes that there might be substantial bonuses on top of that. At Glassdoor.com, the median financial planner salary is $54,350, but the range goes up to $91.000. The CNNMoney survey's financial planner salary is for CFPs, who have a median income of $92,800 and a top pay of $190,000. The folks at Salary.com peg the top financial planner salary closer to $200,000 if the advisor is managing clients' portfolios.

If you're not likely to become one yourself, you might still want to tap the services of a financial planner -- it might improve your financial situation over the long run. Alternatively, you might just be your own financial planner.

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Selena Maranjian, whom you can follow on Twitterhas no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

So you can imagine how shocked I was to find out Warren Buffett recently told a select number of investors about the cutting-edge technology that's keeping him awake at night.

This past May, The Motley Fool sent 8 of its best stock analysts to Omaha, Nebraska to attend the Berkshire Hathaway annual shareholder meeting. CEO Warren Buffett and Vice Chairman Charlie Munger fielded questions for nearly 6 hours.
The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

That's how Buffett responded when asked about this emerging market that is already expected to be worth more than $2 trillion in the U.S. alone. Google has already put some of its best engineers behind the technology powering this trend. 

The amazing thing is, while Buffett may be nervous, the rest of us can invest in this new industry BEFORE the old money realizes what hit them.

KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

Yet according to one J.D. Power and Associates survey, only 1 in 5 Americans are even interested in this technology, much less ready to invest in it. Needless to say, you haven't missed your window of opportunity. 

Think about how many amazing technologies you've watched soar to new heights while you kick yourself thinking, "I knew about that technology before everyone was talking about it, but I just sat on my hands." 

Don't let that happen again. This time, it should be your family telling you, "I can't believe you knew about and invested in that technology so early on."

That's why I hope you take just a few minutes to access the exclusive research our team of analysts has put together on this industry and the one stock positioned to capitalize on this major shift.

Click here to learn about this incredible technology before Buffett stops being scared and starts buying!

David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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