If you are currently interested in or are studying to become a Financial Planner, it’s a good idea to know what a Financial Planner actually does on a daily basis. The world of Finance is often glorified for being a high-paying and exciting job, but that’s not the whole picture. Here is a realistic day in my life as a Financial Planner.
FAQs
Why did I become a Financial Planner?
I have always been interested in money and helping people, and I really enjoyed the idea of being able to submerge myself in everything Finance-related. Wealth and investing has always been fascinating to me. I like to know the secrets of the rich and successful 😉
How did I become a Financial Planner?
I graduated from Auburn University with a Bachelor’s Degree in Finance. From there, I took an internship at a reputable private bank and made some great connections. When my internship was over, I interviewed for the Financial Planning Specialist position that I have now.
What is the best part about being a Financial Planner?
Being able to help people with one of the most stressful things in life – money – is incredibly rewarding. The clients we have here are incredible, and I feel honored that I can help them reach their financial goals!
What is the worst part about being a Financial Planner?
I haven’t had to deal with this yet, but there are instances when an Advisor will get close to a client over a long period of time and the client’s health will decline or they will pass away. Also, dealing with other companies is not my personal favorite (it requires several long phone calls to try and fix errors).
6 am – Wake up
I wake up around 6am (if I don’t snooze my alarm) and get dressed for the day. As a Financial Planner, I am required to dress professionally. I will usually wear a business-casual outfit, unless I am going to a meeting with my team or client. Although I am a professional woman in business, I am also a huge fan of pink. You can find some of my favorite, brightly-colored office outfit inspiration down below:
Check out my post for cute office attire here!
7:30 am – Leave for work
My drive to the office is pretty far, so I leave around 7:30 am everyday. I usually drink my smoothie and listen to a podcast on my drive to work (I’m currently listening to Office Ladies and Deliciously Ella). This is also a time where I like to catch up on recent Financial news on Yahoo Finance or listen to a Finance-related podcast.
8 am – Arrive at the office
The first thing I do when I get to work is check in with my Wealth Management team. This is just to make sure there are no pressing issues or deadlines that need my immediate attention. I get situated at my desk and dive into my emails.
Throughout the Day
I check my emails for the first hour of work and complete any quick and easy tasks. It’s imperative to respond in a timely manner to everyone because we are usually on deadlines.
My workload fluctuates during different times of the year. Year-end, tax season, and the end of the quarters are very busy and stressful times. We do quarterly reports, RMD, and more for clients during these times.
As a Financial Planner, my primary duties are to prepare financial statements and reports. I look at the calendar to see which client meetings we have scheduled. Then, I gather the necessary financial information, statements, notes, and personal information for these meetings. I use this information to plug in data and calculate their net worth and cash flows. We use a system called “eMoney” to view the client’s assets, liabilities, and investments.
Every single day is different. Some clients are more high-maintenance than others and require more work done for them. Older clients feel more comfortable having us deposit their checks for them, which I am happy to do for them.
Every Monday, I create the weekly reports as of market closing the prior Friday. This report shows changes to our client’s assets within Charles Schwab (deposits, transfers, money-links, withdrawals, etc.) It’s important for us to keep track of our clients’ financial activity. The more money the client has, the better for us, but it is our duty to act in our clients’ best interest.
I usually work until about 1 pm, when I stop for lunch. I take about a 30 minute – 1 hour long lunch (depending on how busy I am), and then I get right back to it. There are several breaks that I take during the day to walk outside, work on my blog, study for my FPQP (Financial Planner Qualified Planner) certification, or go socialize.
5 pm – Leave the office
I leave the office around 5pm and then get in a workout. I love running, weight-lifting, Pilates, and long walks.
After that, I will just relax, work on my blog, and run any errands. My bedtime is typically around 10:30pm so that I can get a good night’s rest and do it all over again the next day!
Well, there you have it! This is what I typically do in a day as a Financial Planner. I hope you found it interesting, and maybe it will help you decide what career path to go into.
Don’t forget to add me on Pinterest and Instagram! 🙂
Xo,
Layton