Financial Planner Salary UK

Financial Planner Salary UK

The role of a financial planner is to provide advice to clients about managing their money, modes of investments, and savings. Financial planners possess great people skills and have in-depth knowledge about multiple products and clients’ needs. The roles and responsibilities of a financial planner are:

  • Communicating with clients and analysing customers’ information.
  • Researching the marketplace and conducting risk management.
  • Designing financial strategies for clients and assisting them in making a precise decision.
  • Coordinate and communicate with head office and financial service providers.
  • Producing financial reports.
  • Keeping up to date information about financial products and informing clients about new saving and investment opportunities

Average Financial planner salary in United Kingdom

The average salary of a financial planner in the United Kingdom is £59,854/yr. The average is calculated from the sample of five different hiring websites, including Glassdoor, totaljobs, Reed, UKtalent, and checkasalary. This average is based on a sample of 1,388 job posts on the mentioned websites.

The salary range of a financial planner varies from £30,000 to £100,000 in the United Kingdom. This range is due to many factors, variables, which are discussed next.

Variables that determine salary of financial planner in United Kingdom

  1. Level of experience: The experience of a financial planner; the more experienced the individual is the more pay he/she would get.
Job titleSalary
Trainee advisor£22,000 to £30,000/year
Qualified financial planner£30,000 to £45,000/year
Senior financial planner£60,000 or more/year
Self-employed financial planner£100,000 or more/year

 

  1. Geographical location: The pattern of salaries paid in the United Kingdom varies from location to location.
  2. Other variables: Financial planners’ salary can also differentiate due to bonuses and commission and additional earned benefits.

Skills, Qualification and Career Development

There is a diverse range of industries and sectors which are looking for financial planners. So as an aspiring accounts administrator you can work in any field and sector of your interest. Some of the sectors looking for financial planners are:

  • Banks and building societies
  • Financial planning firms
  • Independent financial advice companies
  • Insurance companies
  • Investment firms

A bachelor’s degree in finance, accounting, business management, or a relevant field can help an individual secure a job as a financial planner. However, an individual with a degree in any other discipline can also work as a financial planner. A prior experience in the field can give you added advantage in gaining a position in an organization.

The skills required for a financial planner position are:

  • Excellent communication, interpersonal, and listening skills.
  • Research and analytical skills.
  • Negotiating and influencing skills.
  • Ability to work in a team.
  • Time management skills.
  • Customer service skills.
  • Outstanding numerical and IT skills.
  • Flexible approach to work and ability to follow deadlines and achieve targets.
  • Proficiency in Microsoft skills.

An individual motivation and drive to progress in his/her career can help them move up in the organization hierarchy. Moreover, with the increase in experience and knowledge an individual can start his/her financial consultancy in the future.

Click here to see a list of sample interview questions.

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