What if you could turn your knack for numbers into a career that changes lives? Helping people make smart financial decisions, grow their wealth and plan for the future isn’t just rewarding—it’s in high demand. As more individuals and businesses look for trusted financial guidance, now is the perfect time to start building a career in financial planning.
A Master’s Degree in Financial Planning and Wealth Management gives you the specialized skills you need—like investment strategies, estate planning, and tax management—to make an impact from day one. This advanced degree prepares you for meaningful work, long-term career growth and to build lasting relationships while helping clients achieve their goals.
Rising demand for financial planners and wealth managers
A robust financial services industry is creating opportunities for finance degree graduates who are well-versed in investments, taxes and retirement planning needs and who can effectively communicate these solutions. According to the U.S. Bureau of Labor Statistics, jobs for financial advisors are projected to grow 17% by 2033, far exceeding the growth rate for all occupations.
Several factors contribute to this trend. As wealth grows among high-income individuals, so does the need for professionals who can develop personalized financial strategies. At the same time, advancements in technology and data analytics are transforming financial forecasting, allowing financial planners and wealth managers to deliver more accurate and customized solutions.
Regulatory changes are also reshaping the industry. Fiduciary requirements and SEC compliance updates have increased the demand for professionals with strong ethical judgment, legal knowledge and analytical skills.
Financial planning vs. wealth management
While sometimes used interchangeably, financial planning and wealth management serve different purposes. Understanding their distinctions can help you determine the right career path.
What is wealth management?
Wealth management jobs focus on high-net-worth individuals and institutional clients. Wealth managers provide comprehensive investment management while incorporating estate planning, tax strategies and asset protection. Key responsibilities include:
- Investment management and portfolio diversification
- Tax-efficient wealth preservation
- Estate planning and trust management
- Risk assessment for high-net-worth clients
What is financial planning?
Financial planning careers offer broader responsibilities, serving individuals, families, and small businesses. Financial planners focus on budgeting, debt management, insurance needs and long-term financial goals rather than solely managing investments. Their work often includes:
- Personalized budgeting and cash flow management
- Retirement and insurance planning
- Tax strategies for individuals and businesses
- Financial goal-setting and wealth accumulation
Why pursue a master’s degree in financial planning?
Advanced finance degrees, such as the Master’s Degree in Financial Planning and Wealth Management at Michigan State University’s Broad College of Business, prepare you for a wide range of high-demand careers. Unlike a general finance degree, this specialized program provides in-depth knowledge of personal finance, portfolio management, tax strategies and estate planning, giving you the skills to guide individuals and businesses toward long-term financial security.
A master’s degree in financial planning and wealth management also provides practical training that goes beyond theoretical knowledge. Many programs incorporate financial modeling, data analytics and portfolio management tools, giving you hands-on experience with the same technology industry professionals use.
This advanced finance degree can also prepare you for the widely recognized CFP® certification, which is often required for higher-level financial planning and wealth management jobs. Programs with strong industry connections can also increase your access to top firms, providing you with mentorship, internship and job opportunities.
Financial planning career path and outlook
Becoming a financial planner requires a combination of education and practical experience. To be successful in this field, you need a finance degree that builds in-depth expertise in investments, tax planning and risk assessment while also preparing you for industry certifications.
A key credential in this field is the CFP® certification, which demonstrates a high level of competency and ethical standards. CFP Board Registered Programs, such as MSU Broad’s M.S. in Financial Planning and Wealth Management, ensure graduates meet the educational requirements needed to sit for the CFP® exam, a critical step in advancing your financial planning career.
The financial planner job journey often begins in entry-level roles, working with clients, analyzing financial data and developing recommendations under the guidance of senior advisors. With experience, you can progress to senior roles, managing more complex portfolios and leading client relationships. Many financial advisors even go on to become partners or firm owners.
Financial advisors also enjoy competitive salaries and steady job growth. The U.S. Bureau of Labor Statistics reported a median annual salary of $99,580 for financial advisors in 2023, with the top 10% earning more than $239,200. Earnings vary based on factors like location, experience and performance-based pay.
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- Business College Complex
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- East Lansing, MI 48824