Updated April 19, 2024, at 3:33 PM

As a financial planner, you expect to wear many hats. You accept and even relish the role of a financial planner, asset manager, and a bit of a behavioral psychologist.

However, financial professionals—particularly independent ones—have the additional responsibilities of running small- to medium-sized businesses. This might include having marketing, public relations and communications, an IT specialist, an HR manager, and other tasks that have little to do with wealth planning.