In this article we provide some information on mutual fund classes and mutual funds training and career overview for the related field, which is part of the finance industry. Mutual fund are professionally managed collective investment schemes which pools money from many investors and invests it in the form of stocks, bonds, short-term money market instruments, and other securities. Mutual funds training provides the knowledge and skills that allow an individual to understand how to use these investments correctly for the greatest benefit and the least risk. This type of training can be undertaken to enhance a career, or also as a means of bolstering personal financial growth. Mutual funds generally involve pooled assets, which are used to buy specific securities that fulfill certain investment objectives. There are a number of professional careers that require an in depth understanding of the concept that lies behind this type of investment vehicle. Annuity sales agents, stockbrokers, and financial advisers can be called upon to evaluate and recommend specific securities to consumers and business customers.
Mutual Funds Education and Training
If you have an interest in a career in the financial services industry, it would be useful to seek out mutual fund classes that led to a CFS (Certified Funds Specialist) designation. The mutual fund classes should help in providing a strong foundation of knowledge in the various investment vehicles, and an understanding of how to create a portfolio that is profitable in both the short term and long term.
Mutual fund courses would focus on selecting the best stocks, funds, and bonds that make up a good portfolio. The skills provided through mutual fund classes offer individuals the ability to initiate a big picture approach when dealing with a client’s portfolio. Understanding how the need of each client differs, and suggesting which type of investment would help them to achieve their goals is essential for anyone who wants to have a career in this sector.
Mutual funds classes may include training in securities, personal accounting, personal finance, credit management, financial planning, risk management, and financial management. Other courses would include:
- Portfolio management
- Accounting and valuation of mutual funds
- Equity research
- Transparency and disclosure
It is possible to undertake CFS training at many different institutes and establishments across the country. For official accreditation you would have to enroll on a program that requires a minimum of sixty hours of self study. This should be completed in a twelve month period, though many students in mutual fund classes are able to complete the task in a much shorter amount of time.
Licenses and Certification
The Bureau of Labor Statistic (BLS) reports that brokers and investment bankers are required to register as representatives of their firm with the Financial Industry Regulatory Authority (FINRA). To obtain the license, those who wish to become agents must pass several exams. Various licenses are available for selling different investment products and services.
Although not always a requirement, certification is an added advantage for those seeking employment or career advancement. Brokers, investment bankers, and financial services sales agents may earn the Chartered Financial Analyst (CFA) certification through by the CFA Institute. For Financial Examiner working for the Federal Deposit Insurance Corporation (FDIC), they must have at least six semester hours in accounting.
Mutual Funds Careers
All investments pose some degree of financial risk, for this reason a professional who understands the prevailing market conditions and the latest analytic tools would be in great demand. Being able to explain succinctly the way investment money is used is an essential aspect of this type of specialist training. There are in fact various careers that would become available upon acquiring CFS certification.
This includes the role of an annuity sales agents, stockbrokers, and financial advisers fund accountant, trader, traders assistant, research analyst, wealth advisor, wealth manager, and risk manager. It is important to have an idea of the profile you would like before starting any educational program.
Estimated Income and Projected Career Outlook
The most well paid openings would be as a risk manager or research analyst. According to data made available form the US Bureau of Labor Statistics, the median salary for a research analyst in May 2009 stood at $83,500, while for a risk manager the amount was $99,300.
There is the potential to earn seven figure salaries with experience and the right market conditions. The Bureau of Labor Statistics (BLS) reports the following data for 2010:
The median annual wage of financial clerks was $33,710. The lowest 10% earned less than $22,920, and the top 10% earned more than $49,500. The employment of financial clerks is expected to grow by 11% from 2010 to 2010.
The median annual wage of securities, commodities, and financial services sales agents was $70,190. The lowest 10% earned less than $31,330, and the top 10% earned more than $166,400. The employment of securities, commodities, and financial services sales agents is expected to grow 15% from 2010 to 2020.
The median annual wage of financial examiners was $74,940. The lowest 10% earned less than $43,170, and the top 10% earned more than $134,820. The employment of financial examiners is projected to grow 27% from 2010 to 2020.
The median annual wage of financial analysts was $74,350. The lowest 10% earned less than $44,490, and the top 10% earned more than $141,700. The employment of financial analysts is expected to grow 23% from 2010 to 2020.
The median annual wage of financial managers was $103,910. The lowest 10% earned less than $56,120, and the top 10% earned more than $166,400. The employment among financial managers is expected to grow 9% from 2010 to 2020.
The median annual wage of personal financial advisors was $64,750. The lowest 10% earned less than $32,660, and the top 10% earned more than $166,400. Employment of personal financial advisors is projected to grow 32% from 2010 to 2020.
The median annual wage of budget analysts was $68,200. The lowest 10% earned less than $44,860, and the top 10% earned more than $101,660. The employment of budget analysts is expected to grow 10% from 2010 to 2020.
The growth of employment opportunities in this sector is expected to keep apace with the rest of the financial industry in the country, it is predicted to grow by around eight per cent up to 2018. The number of openings would in part be tied to the state of national economy and those who have taken mutual fund classes are more likely to be on the priority list for job openings.
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