CAREER PROSPECTS IN FINANCIAL PLANNING IN NIGERIA

I just stumbled on your blog and I’m grateful for a portal such as this.

I am a 25 year old graduate of Finance from a UK university. I graduated in 2010 with second class lower. I have taken on several unrelated jobs in the years since graduation and never practiced finance. I have no certifications.

Late last year I was offered an entry-level position with one of the top commercial banks but yet to resume duty. On this note I was motivated to dust off my Finance degree and begin to map out a career path to becoming a (independent) Financial Planner/Advisor. My plan is to ultimately obtain the CFP certification and with my time with the bank work out a posting to Private banking/wealth management department. This would get me hands on experience and a stepping stone to building a client base.

I have registered for CIS as this is what I can afford and would progress on to registering for the CFP.

I would like to know if I am on the right path and if the Financial Planner/Advisor is a profitable career path in Nigeria. I am not looking to be as wealthy as the Investment bankers, my ultimate goal is to help people manage their personal finances and plan their lives right.

I would also like to know if I should be looking elsewhere for practical experience other than commercial banks. I am yet to meet a CFP in Nigeria so I have no mentors or path to follow.

Hope to hear from you, any form of assistance is appreciated.

Regards,

Joe

***

Hi Joe,

I’m also yet to come across a Certified Financial Planner in Nigeria.

It’s not a field that is well developed yet in Nigeria. Most of the people that are independently into it do not have CFP, but definitely have what is probably more than CFP – a rich experience in personal wealth management while working in corporates.

Of course there are a couple of self-styled financial planning consultants who do not have much experience.

I think your proposed plan is in order.

Take up that job and try to get posted to Wealth Management. It will be a valuable avenue to develop yourself…and build network.

I will  advise you take the CFP exam and that will be an additional selling point for you, and maybe an early mover advantage. Starting with CIS in the meantime is not bad either.

I will also recommend that you follow Nimi Akinkugbe (On LinkedIn, on her website  etc) and learn from
her as she is probably the biggest authority in personal Finance matters in Nigeria.

I wish you all the best.

Jarus

JARUSHUB CAREER ACADEMY – GRADUATE & PROFESSIONAL CLASSES

THE ROAD TO VICTORIA ISLAND: A CAREER GUIDE