Britain is world-leader in financial services for high net-worth individuals. But it’s not just about helping wealthy people get richer, it’s about a growing industry with complex deals, excellent progression prospects and varied projects.
So, what is it, and how does it differ from corporate or investment banking? Here’s our bright guide to help you learn more about this area.
What is it?
Financial planning is concerned with advising clients on everything from investments to tax to estate management. Clients can be anyone from movie stars to football players to CEOs. It’s a mix of consultancy, financial instruments and client relationships.
What’s it used for?
Financial planners, or wealth managers or financial advisors, will work with clients with the long term in mind. They’re less concerned with a quick gamble, than with long-term strategic thinking.
Why is it a good career?
The role is immensely varied, you’ll be working across a multitude of financial products and could gain expertise in everything from pensions to tax. Those are in-demand skills – and it’s a growth industry accordingly. What’s more, it’s incredibly client-focused, you’ll be building transferable client relationships and value for yourself.
Who would enjoy it?
If you are fascinated by economics, and the behaviours of money, coupled with a liking for helping people, then this role is perfect for you. It’s much less impersonal than other finance careers, yet it also suits graduates who are quite independently-minded as many planners eventually become self-employed once they’ve built a client base.
How to impress on an application
You’ll need to prove strong mathematical and analytical skills right off the bat. Next, the employers will be looking for excellent interpersonal skills. Make much of your teamwork experiences on your CV to demonstrate those, and emphasise your likeability traits as well. Finally, don’t be afraid to show them you have an entrepreneurial streak. They want someone who can sell advice to clients and not shy away from the risks, so that commercial awareness is key.
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