Master’s (MS) in Financial Planning

The program is certified by the Financial Planner (CFP®) Board of Standards. The CFP Board is a non-profit organization acting in the public interest by fostering professional standards in personal financial planning through its setting and enforcement of the education, examination, experience, ethics, and other requirements for CFP® certification. The CFP® certification is generally recognized as the highest standard in personal financial planning, qualifying financial planning professionals to provide clients with comprehensive financial advice. Students will be eligible to take the CERTIFIED FINANCIAL PLANNERTM certification examination upon completion of their coursework. The Certified Financial Planner™ certification is a well-known, internationally recognized certification in the financial planning industry. The certification implies that the holder has met rigorous requirements and immediately conveys expertise and credibility in the field.

Financial planning is the comprehensive process of helping individuals and families meet their lifetime financial goals through the proper management of their financial resources. Currently financial planning is growing at a rate faster than many other industries. An increased number of financial planners will be necessary to meet the growing demand for future jobs in the industry, which is ranked 23rd by market size and is the 179th largest in the United States.

Financial planning professionals are trained and hired by clients to gather the necessary information to assess the clients’ financial situation, identify their financial goals and objectives, develop recommendations, communicate and implement those recommendations, and provide a written plan for continuous monitoring. Studies show that individuals who use the services of a comprehensive financial planner tend to do better financially.

The industry is faced with an aging workforce since 56% of financial planners are over the age of 50. Opportunities for individuals who want to build a lucrative and promising career in the industry have never been greater. According to the Bureau of Labor Statistics (BLS), the median annual salary for a financial advisor in 2018 was $88,980 nationally, and in New York the average annual salary was $164,260.

The Master of Science in Financial Planning is housed within the School of Professional Studies (SPS) at NYU. SPS has a long history of training students in applied disciplines where the emphasis is on providing them with the knowledge, hands-on experience, and the development of job skills pertinent to the industry, thus graduating the kind of students that employers seek to recruit.

Financial planning students can be expected to take courses in financial planning and risk management, investments and wealth management, income tax strategies, retirement planning strategies, estate planning, research applications, and a comprehensive capstone course, which combine all the areas of financial planning. In addition, students will be able to choose an area of concentration. Students that want to work directly with clients can take courses in behavioral finance while those who wish to work in a more data-driven financial planning role can take courses in financial analytics. Students may be able to secure internship opportunities for practical experience.

One of the best things about a career in financial planning is the flexibility it offers. Many financial planners become entrepreneurs and establish their own practices; this affords the planners the most flexibility and control over their careers. Many others decide to work for a financial planning firm with direct interaction with clients or in a research or analytics capacity. Yet some others may wish to work for large financial service organizations or banks.

Financial planning has a direct impact on people’s lives by transforming their financial health. It is about helping individuals and families achieve financial well-being and helping people to get out of debt, send their children to college, or retire comfortably. A career as a financial advisor was rated number nine by US News and World Report in their Best Business Jobs survey. The survey also ranked the career as a financial advisor 44th on their list of the top 100 best jobs.