How to Become a Financial Planner in Bangladesh: Degree & Salaries

Become a Financial Planner in Bangladesh: Degree & Salaries

Career Opportunities for Financial Planner in Bangladesh

Career Opportunities for Financial Planner in Bangladesh. If you want to be a financial planner in Bangladesh then you must have sufficient educational and interpersonal skills and you’ll be known as a financial advisor as well. And when you’re a financial planner, you’ll be providing clients with specialist advice on how to manage their money.

Along with the most appropriate products and services available, ensuring that clients are aware of products that best meet their needs and then securing a sale, the role involves researching the marketplace. depending on their clients, such as selling employee pension schemes to companies or offering mortgage, pension or investment advice to private clients, financial planners may specialize in particular products. And while offering advice to clients in all of these areas, as well as saving plans and insurance, others are generalists.

Why Become a Financial Planner in Bangladesh

It may be advertised in the national press, by recruitment agencies, in industry magazines or on employers’ websites of the vacancies for financial planners’ positions. And it may be possible to move into management or compliance work ensuring that the company follows regulatory guidelines when you have secured a position with a large financial organization.

A financial planner in Bangladesh must have professional qualifications and follow strict financial industry rules in order to give financial advice and a financial planner is also known as wealth managers or financial advisor or certified financial planner (CFP).

If you’re already working in financial planning and is a goal in itself then the CFP is a suitable qualification for them. And it adds greater credibility to you and your financial advisory business while achieving a qualification such as the CFP.

Salaries of a Financial Planner in Bangladesh

Researching and considering all retail investment products or providers available to meet the client’s needs, the independent advisers, also called independent financial advisers (IFAs) and financial planner in Bangladesh.

As they are focusing on a particular range of products or on products from one, or a limited number, of providers, the restricted advisers only offer limited advice.

The salary of Depending on the level of education, experience, and skills, salaries also vary widely from planner to planner.

While the upper 10 percent earned more than $150, 000 per year and the median salary was $70, 000 per year, the lowest 10% of full-time fashion design salaries, which includes the salaries of starting designers, averaged less than $32,500 annually according to the latest reports.

The degree of a Financial Planner in Bangladesh

Because employers often regard personal qualities as just as important as academic qualifications, entry without a degree is possible.

Also, it’s widely viewed positively while having relevant experience in a customer service, sales or financial services setting.

Moreover, learning alongside experienced advisers when often start in a bank and study part-time.

And while providing research and administrative support to a financial adviser, it’s possible to enter the financial advice sector as a financial planner in Bangladesh.

The following subjects may improve your chances, but this area of work is open to graduates and diplomats of any discipline:

  • Accountancy
  • Business management
  • Finance
  • Financial studies

Steps to Become a Financial Planner in Bangladesh

The first and foremost thing that you need to be a financial planner in Bangladesh is to be committed to helping others through better financial planning. Also, it would be a good start when you have an interest in financial products and how they can help.

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As you progress in your financial planning career, you’ll learn a lot more of the essential skills and knowledge. The status will be easier to achieve than if you are starting from scratch when you’re already working in financial planning.

Although obtaining Certified Financial Planner status is not easy and takes time, it’s a highly regarded professional qualification. Well, let’s know some steps so that you can be a financial planner in Bangladesh.

First Step: Required Qualifications

You’ll need to get a qualification in financial advice that is recognized by the FCA (Financial Conduct Authority) before you can become a financial planner in Bangladesh.

Together with some relevant work experience in sales, finance or customer services, GCSE in math and English are also desirable.

While applying for a Financial Adviser training scheme with a building society or bank, this will enable you to apply for a Financial Adviser training role.

If one is available in your area then take a Level 4 Higher Apprenticeship in Providing Financial Advice.

And as you need to have a credit check to ensure, you’re not bankrupt or have any outstanding debts of note.

Second Step: Skills and Qualities

If you want to be a financial planner in Bangladesh then you should have the following skills and qualities:

  • Well-built written and verbal communication skills
  • Capability to explain complicated information clearly
  • Talent to research and analyze information
  • Excellent sales skills
  • Expertise in math and computer skills
  • Enthusiasm and determination
  • Prudence and trustworthiness
  • Precision and attention to detail
  • Confidentiality as well as the integrity

Third Step: Training and Development

As set out by the Financial Conduct Authority (FCA) at a minimum of Level 4, all trainee Financial Advisers must hold an industry-recognized qualification.

If you’re interested to get these training then it’s possible to study at traditional colleges, private training centers or by distance learning. As the Financial Advisers also need to hold a Statement of Professional Standing, you can apply for this every year through an FCA accredited body.

You’ll have access to their ongoing professional development schemes as a member. The recognized qualifications that we’re talking about are including:

  • Diploma Regulated Financial Planning Level 4
  • Investment Advice Diploma Level 4
  • Diploma for Financial Advisers in Banking Level 4
  • Professional Certificate in Banking Level 4

Fourth Step: Experience

If you want to be a certified financial planner then you’ll need to have either approved work experience in financial planning of at least one year (supervised) or, three years (unsupervised).

It could mean reducing your qualifying period to one year while working in a financial advisory company under someone who is a financial planning professional.

This period is extended to three years or you work without supervision if your supervisor is not of the appropriate status. And it means you get your employer’s help with meeting the costs associated with your training when you’re working in a financial advisory company.