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Career and Education Opportunities for Personal Financial Planners in Bridgeport, Connecticut

There are many career and education opportunities for personal financial planners in the Bridgeport, Connecticut area. About 2,650 people are currently employed as personal financial planners in Connecticut. By 2016, this is expected to grow 28% to about 3,390 people employed. This is not quite as good as the national trend for personal financial planners, which sees this job pool growing by about 30.1% over the next eight years. Personal financial planners generally advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate.

A person working as a personal financial planner can expect to earn about $47 hourly or $99,140 annually on average in Connecticut and about $33 hourly or $69,050 annually on average in the U.S. as a whole. Incomes for personal financial planners are better than in the overall category of Accounting and Auditing in Connecticut, and better than the overall Accounting and Auditing category nationally. Jobs in this field include: insurance consultant, analyst, and trustee of estate.

The Bridgeport area is home to seventy-five schools of higher education, including ten within twenty-five miles of Bridgeport where you can get a degree as a personal financial planner. Given that the most common education level for personal financial planners is a Bachelor's degree, you can expect to spend about four years studying to be a personal financial planner if you already have a high school diploma.

CAREER DESCRIPTION: Personal Financial Planner

Personal Financial Planner video from the State of New Jersey Dept. of Labor and Workforce Development

In general, personal financial planners advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. They also duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.

Personal financial planners analyze financial data obtained from clients to establish strategies for meeting clients' financial objectives. They also inspect clients' accounts and plans regularly to establish whether life changes or financial performance indicate a need for plan reassessment. Equally important, personal financial planners have to monitor financial market trends to insure that plans are effective, and to pinpoint any needed updates. They are often called upon to explain and document for clients the types of services that are to be provided, and the responsibilities to be taken by the personal financial advisor. They are expected to answer clients' questions about the purposes and specifics of financial plans and strategies. Finally, personal financial planners meet with clients' other advisers and investment bankers, to fully understand clients' financial goals and circumstances.

Every day, personal financial planners are expected to be able to articulate ideas and problems. They need to deal with basic arithmetic problems. It is also important that they think through problems and come up with general rules.

It is important for personal financial planners to build and maintain client bases, keeping current client plans up-to-date and recruiting new clients on an ongoing basis. They are often called upon to sell financial products such as stocks and insurance if licensed to do so. They also devise debt liquidation plans that include payoff priorities and timelines. They are sometimes expected to conduct seminars and workshops on financial planning topics such as retirement planning and the evaluation of severance packages. Somewhat less frequently, personal financial planners are also expected to open accounts for clients, and disburse funds from account to creditors as agents for clients.

Personal financial planners sometimes are asked to meet with clients' other advisers and investment bankers, to fully understand clients' financial goals and circumstances. And finally, they sometimes have to explain to individuals and groups the specifics of financial assistance available to college and university students, such as loans and scholarships.

Like many other jobs, personal financial planners must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Bridgeport include:

  • Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
  • Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
  • Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
  • Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
  • Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
  • Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
  • Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
  • Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
  • Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
  • Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
  • Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.

EDUCATIONAL OPPORTUNITIES: Personal Financial Planner Training

Central Connecticut State University - New Britain, CT

Central Connecticut State University, 1615 Stanley St, New Britain, CT 06050. Central Connecticut State University is a large university located in New Britain, Connecticut. It is a public school with primarily 4-year or above programs. It has 12,233 students and an admission rate of 60%. Central Connecticut State University has a bachelor's degree program in Finance which graduated eighty-five students in 2008.

Long Island University-Westchester Campus - Purchase, NY

Long Island University-Westchester Campus, LIU/Westchester Campus, 735 Anderson Hill Road, Purchase, NY 10577-1400. Long Island University-Westchester Campus is a small university located in Purchase, New York. It is a private not-for-profit school with primarily 4-year or above programs and has 290 students. Long Island University-Westchester Campus has a master's degree program in Finance.

Post University - Waterbury, CT

Post University, 800 Country Club Rd, Waterbury, CT 06723. Post University is a small university located in Waterbury, Connecticut. It is a private for-profit school with primarily 4-year or above programs. It has 1,687 students and an admission rate of 51%. Post University has a less than one year and a bachelor's degree program in Finance which graduated zero and two students respectively in 2008.

University of Bridgeport - Bridgeport, CT

University of Bridgeport, 126 Park Avenue, Bridgeport, CT 06604-5620. University of Bridgeport is a medium sized university located in Bridgeport, Connecticut. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,323 students and an admission rate of 62%. University of Bridgeport has a bachelor's degree program in Finance which graduated four students in 2008.

Manhattanville College - Purchase, NY

Manhattanville College, 2900 Purchase St, Purchase, NY 10577. Manhattanville College is a small college located in Purchase, New York. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,950 students and an admission rate of 52%. Manhattanville College has a bachelor's degree program in Finance.

Quinnipiac University - Hamden, CT

Quinnipiac University, Mt Carmel Ave, Hamden, CT 06518. Quinnipiac University is a medium sized university located in Hamden, Connecticut. It is a private not-for-profit school with primarily 4-year or above programs. It has 7,413 students and an admission rate of 45%. Quinnipiac University has a bachelor's degree program in Finance which graduated three students in 2008.

Norwalk Community College - Norwalk, CT

Norwalk Community College, 188 Richards Avenue, Norwalk, CT 06854. Norwalk Community College is a medium sized college located in Norwalk, Connecticut. It is a public school with primarily 2-year programs and has 6,266 students. Norwalk Community College has an associate's degree program in Financial Planning and Services.

University of New Haven - West Haven, CT

University of New Haven, 300 Boston Post Road, West Haven, CT 06516. University of New Haven is a medium sized university located in West Haven, Connecticut. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,739 students and an admission rate of 68%. University of New Haven has a bachelor's degree and a postbaccalaureate certificate program in Finance which graduated four and two students respectively in 2008.

Western Connecticut State University - Danbury, CT

Western Connecticut State University, 181 White Street, Danbury, CT 06810-6826. Western Connecticut State University is a medium sized university located in Danbury, Connecticut. It is a public school with primarily 4-year or above programs. It has 6,316 students and an admission rate of 58%. Western Connecticut State University has a bachelor's degree program in Finance which graduated twenty-five students in 2008.

Iona College - New Rochelle, NY

Iona College, 715 North Ave, New Rochelle, NY 10801-1890. Iona College is a small college located in New Rochelle, New York. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,375 students and an admission rate of 59%. Iona College has bachelor's degree, master's degree, and post-master's certificate programs in Finance which graduated one, forty-six, and one students respectively in 2008.

CERTIFICATIONS

Accredited Tax Advisor: This credential is for practitioners who handle sophisticated tax planning issues, including ownership of closely held businesses, qualified retirement plans and complex estates.

For more information, see the Accreditation Council for Accountancy and Taxation website.

Chartered Property Casualty Underwriter: More than 65,000 people have earned the CPCU professional designation.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Personal Financial Specialist: CPAs who specialize in personal financial planning can earn a specialist's designation, the Personal Financial Specialist (PFS).

For more information, see the American Institute of Certified Public Accountants website.

Certified Pension Consultant: The Certified Pension Consultant (CPC) credential is designed for benefits professionals working in plan administration, pension actuarial administration, insurance, and financial planning.

For more information, see the American Society of Pension Professionals and Actuaries website.

Qualified 401(k) Administrator: The Qualified 401(k) Administrator (QKA) credential is conferred by ASPPA to retirement plan professionals who work primarily with 401(k) plans.

For more information, see the American Society of Pension Professionals and Actuaries website.

Certified Financial Planner: The CFP certification process, administered by CFP Board, identifies to the public that those individuals in the U.

For more information, see the Certified Financial Planner Board of Standards, Inc. website.

Certified IRA Services Professional: Applicable to financial services professionals who have dedicated IRA operational and technical experience.

For more information, see the Institute of Certified Bankers website.

Certified Personal Banker: Applicable to financial services professionals who have completed the AIB Personal Banking Diploma and who function as personal bankers.

For more information, see the Institute of Certified Bankers website.

Certified Funds Specialist: The CFS 60-hour program provides the practitioner with everything needed to select the right fund for any given situation.

For more information, see the Institute of Certified Fund Specialists website.

Certified Annuity Specialist: The CAS program is a 60-hour self-study program.

For more information, see the Institute of Certified Fund Specialists website.

Board Certified Estate Planner: Board Certified in Estate Planning (BCE) is the only designation designed and offered to brokers, advisors, and planners who have clients interested in estate accumulation, preservation, and distribution.

For more information, see the Institute of Certified Fund Specialists website.

Registered Financial Associate: The Registered Financial Associate (RFA) is a designation granted only to recent graduates of an approved academic curriculum in financial services.

For more information, see the International Association of Registered Financial Consultants website.

Certified Investment Management Analyst: The CIMA offers an intense educational experience focusing on asset allocation, manager search and selection, investment policy and performance measurement.

For more information, see the Investment Management Consultants Association website.

Chartered Market Technician: The Chartered Market Technician (CMT) designation is the culmination of a certification process in which candidates are required to demonstrate proficiency in a broad range of technical analysis of the financial markets.

For more information, see the Market Technicians Association website.

Certified Retirement Specialist: If you are a professional with an interest in issues and opportunities in the 403(b) marketplace, advance your career by obtaining the Certified Retirement Specialist (CRS) designation.

For more information, see the NTSAA (National Tax Sheltered Accounts Association) Educational Institute website.

Economic Development Finance Professional: In NDC's EDFP Certification Program you will build the capacity to translate development opportunities into results for their communities.

For more information, see the The National Development Council website.

LOCATION INFORMATION: Bridgeport, Connecticut

Bridgeport, Connecticut
Bridgeport, Connecticut photo by Xtremeyanksfan22

Bridgeport is located in Fairfield County, Connecticut. It has a population of over 136,405, which has shrunk by 2.2% in the past ten years. The cost of living index in Bridgeport, 151, is far greater than the national average. New single-family homes in Bridgeport are valued at $110,900 on average, which is far less than the state average. In 2008, twenty-six new homes were built in Bridgeport, down from forty-one the previous year.

The three big industries for women in Bridgeport are health care, educational services, and finance and insurance. For men, it is construction, administrative and support and waste management services, and accommodation and food services. The average commute to work is about 25 minutes. More than 12.2% of Bridgeport residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 4.6%, is lower than the state average.

The unemployment rate in Bridgeport is 12.1%, which is greater than Connecticut's average of 8.3%.

The percentage of Bridgeport residents that are affiliated with a religious congregation, 70.1%, is more than both the national and state average. Calvary Episcopal Church, Golden Hill United Methodist Church and Good Shepherd Christian Church are among the churches located in Bridgeport. The most common religious groups are the Catholic Church, the Episcopal Church and the United Church of Christ.

Bridgeport is home to the North Branch Bridgeport Public Library and the Challenger Learning Center as well as Went Field and Johnson Oak Park. Shopping centers in the area include Lafayette Shopping Plaza Shopping Center, Baldwin Plaza Shopping Center and Bayview Shopping Center.