The Financial managers are individuals rendering financial services to people, businesses and even the government. Their duties involve giving investment advice for pension planning, life insurance and other insurances. They also assist any individuals seeking their help to maintain the individuals’ desired investment income balance, gains in capital and other through proper allocation of assets. In other words, individuals engaging in this profession deals with financials.
Financial manager Education Requirements
To become a financial manager, education requirements are very critical. This will prepare students for a comprehensive career in financing. Students can work in the many professions of financial management. However, there are different path for the professional work that student will choose.
The qualifications for the undergraduate admission require students to complete their high school study. To be admitted with any higher learning institutions, students must inquire about the GPA; some schools do not require any minimum GPA and only requires graduates of high school, some requires a minimum of cumulative GPA of 3.0 or better. The associate degree can be completed in two years; it can be continued towards bachelor’s degree for additional two years. Straight bachelor’s degree can be completed in four years. The master’s degree can be completed in two or three years. Certifications such as post-doctoral research and graduate certificates can be attained after a year or more. Admission to graduate study requires minimum GPA and cumulative GRE score. Contact your chosen schools to know the specific admission requirements for graduate studies.
Financial manager qualifications comprise of completion of at least bachelor’s degree. There are three licenses type for professionals who work as financial advisors – these are Investment Advisor Representative, Registered Representative or Stock Broker and Insurance Producer.
The Financial Industry Regulatory Authority or FINRA provides licensures to aspiring financial management professionals. There are different FINRA exams; these are the FINRA Series 7 o the General Securities exam, FINRA Series 63 or the State Securities exam and FINRA Series 65 or 66 or the Uniform Investment Adviser Law Exam.
Students wanting to pursue a particular career in financial management should contact the FINRA to know the right licensure to take. For example, becoming a Registered Investment Adviser requires passing of FINRA Series 65 or equivalent to passing both FINRA Series 7 and 66.
Financial manager requirements to attain any of the designation: Chartered Financial Consultant (ChFC), Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Registered Financial Consultant (RFC), Chartered Life Underwriter (CLU), Chartered Retirement Planning Counselor (CRPC) and Masters of Science in Financial Services (MSFS) requires different course work. Interested professionals wanting to pursue any of these designations can contact Certified Financial Planner Board of Standards, Chartered Financial Analyst Institute and the College for Financial Planning for the particular details and process of attaining the designation.
What courses count towards financial manager education requirements?
Financial manager required education for core courses, elective and general education are: English, liberal arts, humanities, social science, mathematics, economics, assets and liabilities and financial management.
What levels of degrees are available for financial manager?
The different degree levels conferred and accredited are associate degree, bachelor, master, graduate certificate and PhD. Below are some examples of major and minor concentrations that students will have to take:
- First Major: Financial analysis
- Second Major: financial planning
- First Minor: investment advising
- Second Minor: financial advising
What are the financial requirements to become a financial manager?
The estimated tuition fees in the financial manager degree program are around $4,124 to $51,960. Examples of colleges/universities offering this degree are City University of Seattle, Carnegie Mellon University, Polytechnic Institute of New York University, University of Akron – main campus and Georgia Institute of Technology – main campus. The wide difference in the tuition fees can be pointed to some factors such as location of the school, the type of the school and degree taken by the student.
What the continuing education requirements for financial manager?
Several years of working is necessary to attain success in this field. Engaging in continuing education through entering any formal and informal training is advisable. Some examples of formal financial manager continuing education are taking graduate degrees, participation to on-the-job training experience, certifications and many more. Informal education includes working under the supervision of experienced and licensed financial advisor or any financial management profession.
Financial manager certification and certificates are viewed as tools for professional practice improvement. Certifications can be acquired through internships and graduate certificates. Organization such as Certified Financial Planner Board of Standards, Chartered Financial Analyst Institute and the College for Financial Planning awards certifications.
What are the skills necessary to become a financial manager?
Success in any profession requires some skills and abilities. To become successful in financial management profession, an individual must have some of the skills and abilities listed below:
- Ability to give instruction clearly
- Time management
- Instructing skills
- Financial management skills
- Social perceptiveness
- Management of personnel resources
- Speech recognition
- Critical-thinking skills
- Active listening
- Precise and accurate at all times
- Reading and writing comprehension
- Communication skills
- Mathematical and analytical skills