Personal Financial Planning
Graduate Program Overview
Financial Planning Graduates are in High Demand
Financial planning is a relatively new field which has only recently acquired the standing and respect enjoyed by other well-established professions such as medicine, law, or accounting. Most Americans now know and value what a financial planner does, the demand for these services has never been greater, and demand is still growing. The supply of trained, experienced planners is, however, critically short.
Those who are educated in planning will be in high demand as practices grow to meet increasing public needs. "As more organizations enter and/or expand their presence in the wealth management business, the competition for professional employees will likewise increase, leading to skyrocketing labor costs and continued pressure on profitability for advisory firms." (Back to Future: The Continuing Evolution of the Financial Advisory Business, JP Morgan Asset Management, July 2005.)
Current legislation will only add to the shortage of advisors. A recent study conducted by Dalbar Research suggests that as a result of the recently enacted Pension Protection Act (Dec 31, 2006) there may be an immediate shortage of as many as 60,000 planners needed to facilitate effective retirement planning strategies within employee benefit plans alone. (PPA Gateway to the Fiduciary Adviser Business, Dalbar, 2007)
Additionally, the first-generation of planners - now in their 50s and 60s - will soon retire, and the next generation is currently preparing to step forward to shape the profession. Unlike their predecessors who moved into planning laterally from other fields, many of tomorrow's leaders are being groomed in the classrooms of a few forward-thinking universities and colleges that offer degree programs in personal financial planning.