By James Langton

(April 12 – 16:30 ET) — A survey conducted on behalf of the Financial Planners Standards Council found that most financial planners are very satisfied with their profession, but they would like to make it tougher for others to get into the business.

Hart & Associates conducted the survey for the FPSC. It found that most planners are happy with their jobs, and 81% would choose financial planning as a profession again if they had to do it all over again. The majority of planners indicated very high satisfaction in job flexibility, job security and earnings.

Most survey participants said they entered the profession in search of job independence and flexibility. Job satisfaction ratings varied by the industry sector, with those working for themselves, in the securities and insurance sectors or for financial planning groups claiming to be most satisfied. Over half the planners surveyed earned at least $100,000 last year, and 31% earned over $150,000. Single and divorced planners are the least satisfied with their ability to balance work with the rest of their life.

Over half of respondents serve more than 200 clients. Three-quarters of them serve clients with a net worth of less than $500,000. Those serving the wealthiest clients (net worth of more than $500,000) tend to be the most experienced and work in the accounting or securities segments of the industry.

However, the FPSC says that planners also, “indicated a desire for one common standard distinguished by one designation to be made mandatory for all entering the profession. And while they want the standards of professionalism raised, they also want the number of compliance issues they feel get in the way of providing service to their clients minimized.”

“The survey was of professional planners who have already voluntarily met rigorous requirements in education, examination, experience and ethics to hold the CFP designation. So it is not surprising that they want all those entering this rewarding profession to meet the same high standards,” says FPSC president, Don Johnston.

Hart & Associates surveyed 1,200 planners during the first three weeks of November 2000.