The process of financial planning is of key importance to the success of any enterprise. As it involves the estimation of capital required to accomplish its strategic goals and objectives. It is the procedure of structuring financial policies in regards to the acquisition, investment as well as administration of funds of an organization. Furthermore, it gives assistance to the CEO in setting financial targets for the company and compensates employees for meeting goals within the budget set.
Financial planning comprises of activities such as:
- Judging the business environment
- Establishing the vision as well as objectives
- Analyzing the kinds of resources needed to fulfill the objectives
- Evaluating the number of resources that are required (example: equipment, labor, material etc.)
- Calculating the complete amount of every kind of resource
- Compiling the costs to construct a budget
- Identifying the risks relating to the budget set
In today’s dynamic financial markets, there is a big need for certified financial planners who can guide individuals, businesses and private equity firms about appropriate financial practices. The job market for financial planners is expected to grow by 30 percent in the next seven years. With this increase in demand for people that are highly capable of managing finances, many institutes have introduced financial planning certificates.
So, if you aspire to have a career in financial planning and wish to get an edge over your competitors, then here is a list for you of the best financial certifications.
1). Chartered Financial Analyst
Chartered Financial Analyst designation is one of the most honored investment management designations worldwide. Students have to attend education webcasts, conferences and seminars to stay updated about the investment industry. This can prove employers that you inherit advanced investment analysis skills.
2). Certified Financial Planner
The Certified Financial Planner Board of Standards confers the Certified Financial Planner designation which is considered to be a professional certification symbol for financial planners. Having this designation signifies that you have gone through the extensive training, have the required competence and hold to high ethical standards to work in the investment industry.
3). Certified Private Wealth Advisor
The credential is specially designed for wealth managers and partly for those looking to enter the private equity sphere. It helps you learn strategies monetize and protect assets, minimize taxes, maximize growth as well as transfer wealth. People who earn the certificate get to work with high-net-worth clients.
4).Chartered Special Needs Consultant
ChSNC is formed to provide technical, quantitative, and collaborative skills to people working in the financial services industry. The credential is created to provide an advisor to special needs families for catering to their unique needs.
5).Accredited Estate Planner
Awarded by the National Association of Estate Planners & Councils, the designation is graduate level specialization in the area of estate planning. This designation is accessible to Chartered Life Underwriters, Certified Trust and Financial Advisors, attorneys, Chartered Financial Consultants, Certified Public Accountants, and Certified Financial Planners that are effectively involved in estate planning and also are capable to meet rigorous qualifications while applying for the certificate.