What does the day-to-day work of a financial planner with a federal certificate look like?

What does the day-to-day work of a financial planner look like? Which activities are carried out and how often?

A financial planner with a federal diploma works as an employee or self-employed person in the financial services sector. They deal with financial advice and financial planning for private individuals who are affiliated to the second pillar, which includes self-employed persons and employees. In order to be able to provide such financial advice with subsequent financial planning, these financial specialists have extensive knowledge in the areas of asset formation, income security, pension optimization, asset protection, i.e. insurance, retirement security and all aspects of financing and the acquisition of real estate. Financial planners can also answer tax law questions relating to the financial plan, such as tax optimization, whereby more complex questions are passed on to experts and included in the planning. This enables them to provide private individuals with comprehensive advice and support throughout their entire life cycle, right up to retirement.

Your financial planning activities include the following steps:

1. As a first step, financial planners with a federal certificate clarify the individual needs of their clients and collect all the necessary client data.
2. They then use this data and requirements to formulate planning objectives and carry out an analysis of the current situation, which includes all income, expenditure, debts, assets and taxes.
3. In the following, financial planners propose solutions that include financial investments such as funds, life insurance, mortgages, etc. They present complex issues, including the formation and investment of assets and the coverage of life risks, to the client in an understandable way using graphics. When finding a solution, they take into account the flexibility, return, risk, liquidity and disposal wishes of the client, taking into account tax optimization, the legal situation and the sustainability of the financial investments.
4. Closing of sales, review of results and regular recalculation or updating in the event of changing circumstances such as marriage, divorce, cohabitation, family offspring, early retirement or early inheritance.

(Good to know: The weighting/frequency of the individual task areas can vary depending on the company and task profile).

Typical positions are:

• Financial planner at banks, insurance companies, trust and financial service providers (middle management level)
• Financial advisor for trust and asset management companies
• Private client advisor in banks and financial institutions
• Self-employed financial advisor
• Insurance advisor

Target group and skills: Who is the professional examination for financial planners with a federal certificate suitable for? What qualities and skills are required?

Target group of the course "Financial planner with federal certificate":

• Self-employed consultant and intermediary in customer advice and customer service
• Self-employed consultant and intermediary in the sale of pension and financial products
• Financial institution employee and employee
• Interested persons from the back office

Personal requirements:

The following qualities are required for a successful career as a financial planner:

• Ability to work in a team
• Good communication skills
• Confident appearance
• Friendliness
• Customer orientation
• Conceptual thinking
• Analytical skills
• High degree of independence
• Load capacity

Requirements for admission to the professional examination in financial planning (BP):

In order to take the federal professional examination for financial planners, you must fulfill the following requirements in accordance with the examination regulations:

• Federal certificate of proficiency (at least 3 years of basic training) or equivalent and at least 2 years of professional experience in the financial services sector

or

• 2 years of basic education and 5 years of professional experience, at least 2 years of which in the financial services sector

or

• At least 5 years of professional experience in the financial services sector without relevant basic training

and

• Proof of all required module qualifications or certificate of equivalence

You will find out whether you have been admitted to the professional examination at least three months before the start of the examination with a written notification including reasons and information on legal remedies in the event of rejection.

The following is usually required for admission to the Financial Planner course:

• Completion of all modules of the "Certified Financial Advisor IAF" course
• A good basic knowledge of finance
• Professional experience with customer contact is highly recommended and essential for a great training benefit

Subject matter and content of the financial planner training:

The subject matter of the preparatory courses for the professional examination for the financial planner certificate is based on the specifications of the sponsor of the federal examination, theIAFInterest group for training in the financial sector
Office for German-speaking Switzerland.

The learning content of the training is divided into the following financial planner subjects:

• Basics
  • Financial mathematics
  • Law (incl. matrimonial property law, inheritance law)
  • Insurances
• Capital formation
  • Asset situation (statement of assets, investments, derivatives and structured products, alternative investments)
  • Development planning and advice (asset planning, tax burden, securing retirement provisions, estate planning)
• Pension provision (pension analysis and pension planning)
• Integral advice after life events/building planning (real estate)
• Retirement income and pension planning
  • Pension planning and advice (client retirement goals, BVG entitlements, tax burden, property and inheritance disputes)
  • Taxes

Costs and financing of financial planning for continuing education:

Depending on the provider and duration of the course, the costs of the financial planner course vary slightly. On average, these amounts are to be expected:

• Course fees:between CHF 5'900.- and CHF 16'900.-
  After taking the exam, you will receive around 50% of this back from the federal government on application (regardless of the result)*.
  Note: Members of the Kaufmännischer Verband receive a 10% discount on the costs of training courses and courses offered by individual training providers
• Examination fees:CHF 1,000 (as at: 2023)
  The examination fee is set by the body responsible for the professional examination. It is paid by the candidate after confirmation of admission to the financial planner examination.
• Extra costs:At some schools, the costs for enrolment fees, teaching materials, training documents, books, intensive exam training, simulation exams, school diplomas and interim qualifications, for example, are not included in the course fees. Please contact the provider of your choice directly to find out what additional costs you can expect for the financial planner training course.
• Acquisition of additional qualifications:For additional qualifications such as Certified Financial Advisor IAF, you must expect extra costs for the preparation and external examination.

*Since January 1, 2018, preparatory courses for federal professional examinations have been financially supported by the federal government. Graduates of these courses can therefore be reimbursed up to 50% of the course costs paid after taking the federal examination.Further information is available here.

Duration of study, number of teaching hours and learning effort for financial planner training:

• The financial planner training course, including the intermediate step to become a financial advisor, has a modular structure (i.e. some of the skills are assessed in module examinations before the professional examination and are only tested across modules in the final examination) and lasts 1 to 4 semesters while working. If you already have the IAF financial advisor qualification, the course only lasts 4 to 10 months and comprises approx. 150 lessons.
• Lesson times vary depending on the provider of the financial planner training course. As a rule, for example, the lessons take place over 19 days - different options are offered: one evening and half a weekday/Saturday, two evenings per week or all day on a weekday and/or Saturday.
• Many schools now offer a mix of face-to-face and online courses (online, hybrid teaching, blended learning) as well as self-study.
• Thanks to the extra-occupational concept of the Financial Planner course, you can apply and consolidate the learning material in practice straight away. Nevertheless, you should allow sufficient time for preparation and follow-up of the lessons and for self-study - how much depends on your prior knowledge, working style and learning speed. As a precaution, we recommend that you allow at least 5 - 8 hours per week.

Note: Some schools offer so-called "taster lessons". This gives you the opportunity to gain an insight into the lessons and the learning atmosphere. These are important aspects on the way to becoming a financial planner. It is best to contact the school of your choice directly.

Degree, diploma and title of Certified Financial Planning Specialist:

The professional examination for financial planners with a federal certificate takes place annually, provided that at least 50 candidates meet the admission requirements, otherwise every two years. It can be taken in German, French or Italian.
Candidates for the professional financial planner examination are notified at least 14 days before the start of the examination. The invitation includes the examination program (with details of the place and time of the examination as well as permitted aids) and the list of experts.

Pre-qualifications and module qualifications:

• 4 module completions:Capital formation
  • Pension provision (personal and social insurance)
  • Insurance (property and asset insurance)
  • Real estate/financing
• Graduation dipl. financial advisor IAF / dipl. financial advisor IAF

The professional examination for financial planners comprises the following cross-module examination parts:

• Financial planning topics (web-based exam, 90 minutes)
• Financial planning for private households - solving one or more client cases (written exam, 240 minutes)
• Financial planning for private households (oral exam, 30 minutes)

Diploma and title "Financial Planner"

Graduates of the professional examination receive a federal professional certificate and are entitled to use the federally recognized and protected title "Financial Planner with Federal Professional Certificate" or "Financial Planner with Federal Professional Certificate". The qualification is recognized by the FPVS Swiss Financial Planners Association for active membership and by the SFPO Swiss Financial Planners Organization for the Associate Wealth Planner license. The title is recognized by Finma (Financial Market Supervisory Authority) as a professional qualification for registration as an insurance intermediary. The qualification is recognized by all FIDLEG advisor registers as proof of specialist knowledge and knowledge of the duties of conduct in accordance with the Financial Services Act (FIDLEG) Art. 6. Financial planner with a federal certificate is recognized by Cicero, the learning attestation system of the Swiss insurance industry.

• In French: "Conseillère financier avec brevet fédéral", "Conseiller financier avec brevet fédéral"
• In Italian: "Consulente finanziara con attestato professionale federale", "Consulente finanziario con attestato professionale federale"
• In English: "Financial Planner, Federal Diploma of Higher Education" (Attention: This is only a recommendation/translation and not a protected title)