Financial planner
What does a financial planner do?
Financial planners help individuals and families develop long-term strategies to achieve their financial goals. They work closely with clients to create personalised plans that may cover budgeting, saving, investing, superannuation, retirement planning, insurance, and wealth creation. Financial planners assess a client's financial position, future objectives, and risk tolerance to develop comprehensive plans that support long-term financial wellbeing.
Financial planners may work in advisory firms, accounting practices, banks, wealth management companies, or operate in private practice. Their role requires a strong understanding of financial planning principles, financial markets, legislation, and ethical responsibilities.
Is a career as a financial planner right for me?
A career as a financial planner may suit you if you enjoy working closely with people and helping them plan for important life goals. Skills and attributes that are valuable in this profession include:
An ability to analyse and interpret information.
Creative expression, storytelling and original thinking.
Proficiency in using technology, digital tools, and relevant software.
The capacity to lead through effective decision-making, accountability, and support for others.
Effective time-management and prioritisation skills.
The ability to take initiative, demonstrate personal drive, and maintain a professional attitude.
A sound awareness and understanding of industry and trends.
How to become a financial planner
The pathway to becoming a financial planner in Australia involves meeting education and professional standards set by the financial services regulator. This generally requires completing an approved bachelor's degree, passing a national exam, and undertaking a professional year under supervision. Ongoing professional development is required to maintain compliance and stay current with regulatory and industry changes.
Every journey to study is individual, and there are several pathways into financial planning depending on your background and career goals. A common path to becoming a financial planner:
- Complete a bachelor degree in finance, business, commerce or a related field.
- Meet the education requirements for financial advisers in Australia.
- Gain practical experience through internships, placements or entry-level financial services roles.
- Complete any required professional training and examinations.
- Maintain professional knowledge through ongoing professional development and industry learning.
Professional requirements
To provide personal financial advice in Australia, financial planners must meet education and professional standards requirements. This typically includes completing an approved qualification, passing the Financial Adviser Exam administered by the Australian Securities and Investments Commission (ASIC), meeting ongoing continuing professional development requirements, and complying with professional and ethical standards.
How long does it take to become a financial planner?
Completing a bachelor's degree typically takes around three years of full-time study. This is followed by a professional year and the national exam before you are able to provide unsupervised financial advice. Timeframes may vary depending on individual circumstances.
Start your journey with UniSQ
Prepare for a financial planning career with a UniSQ finance or business degree and develop the financial, analytical and client relationship skills needed to help people achieve their goals.
Responsibilities and work settings
Meeting with clients to understand their financial goals, priorities and life circumstances.
Developing personalised financial plans and long-term wealth strategies.
Planning for retirement, superannuation, wealth accumulation and major life events.
Assessing financial risks and identifying strategies to help achieve financial goals.
Modelling future financial outcomes and reviewing progress against objectives.
Preparing financial plans, projections and supporting documentation.
Maintaining ongoing client relationships and adjusting plans as circumstances change.
Ensuring financial plans align with regulatory requirements and professional standards.
Banks and financial institutions
Accounting, consulting and professional services firms
Government agencies, departments and councils
Non-profit, charity and community organisations
Universities and higher education providers
Manufacturing and industrial companies
Mining and resources companies
Financial planner FAQ's
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