Mississippi State University will offer a certificate program in financial planning come January. MSU is the only school in the state to offer the program in certified financial planning for the business school.
The course will be available via the Internet by the university’s College of Business and Industry. This program will fulfill the requirements that must be obtained in order to be professionally titled a certified financial planner.
This course will benefit the business students at MSU for it will allow them to move into a field of finance after graduation that normally requires the students have to obtain a separate course and evaluation after the completion of their majors.
With the increasing demand for financial planners due to economic growth, certified financial planning has been rated the No.1 job in the country due to the high demand.
The financial planner’s services depend on factors, including credentials, licenses and areas of expertise.
The basic demands of a financial planner are to analyze a client’s financials in terms of income, assets, tax and management.
Financial planners cannot sell insurance or securities without the proper licenses.
Lynn Phillips, Phillips Financial Advisory Inc., is a financial planner in Starkville. Phillips helped write the last section of the CFP test. Having been a financial planner for 20 years in Starkville, Phillips understands the benefits of the CFP being introduced and available for students.
“I think it’s tremendous. I wish I had this opportunity,” said Phillips. “It teaches you everything we do every day with our clients,” Phillips continued.
Phillips said that this program will bring credibility to graduates and jumpstart their careers in this particular field. A CFP is similar to a certified public accountant.
“If you want to work in financial advising, CFP is a must…it’ll be hard to get a job without one,” stated Phillips.
“It is a practice, not a finite science. Everything students learn in class will be obsolete in two years,” Phillips informed.
“People are very emotional about money. There is an art to it, something you learn from being involved and around the process. You must learn to rationally figure out a course of action,” stated Phillips about the importance of the financial planner to the individual client and their money.