How much certified financial planner make

Fee-only and fee-based financial advisors begin to differ when it comes to non-client-based compensation, which fee-only advisors completely avoid. On the other hand, a fee-based advisor could earn commissions for selling specific securities, insurance products or more. However, earning money based on commissions can open an advisor to potential conflicts of interest. For example, they may encounter an incentive to recommend a specific product over another because it makes them more money.

Some financial advisors earn a salary. This is most common with an advisor who works for a bank or a different financial institution. Salaried advisors may also earn a bonus or commission for selling certain products. The climb paces much higher than the average for all occupations in the country. The government ties this growth to an aging population that will soon demand advice around retirement planning. In particular, the BLS sites the shift to individual retirement accounts IRAs and k plans from traditional pensions as a main driver behind the demand for financial advice.

It also notes that the rise of robo-advisors may temporarily lessen demand for financial advisors. When combining above-average salaries with high levels of job satisfaction and growing job availability, the certified financial planner is a standout career path for the financially-minded individual.

The CFP Board website provides in-depth coverage of the certified financial planner designation and instructions regarding entry into the profession. CFP Board. Bureau of Labor Statistics. Career Advice. Financial Advisor Careers. Your Privacy Rights.

To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data. We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Article Sources. Investopedia requires writers to use primary sources to support their work.

A certified financial planner is one of the most highly compensated jobs with a strong growth rate. It is a challenging occupation that provides plenty of rewards when educating people about managing their money and accumulating ample funds for a secure, comfortable retirement.

James Woodruff has been a management consultant to more than 1, small businesses. As a senior management consultant and owner, he used his technical expertise to conduct an analysis of a company's operational, financial and business management issues. James has been writing business and finance related topics for work.

By Jim Woodruff Updated July 20, What Is a Portfolio Analyst? Related Articles.