CAREER

Personal Financial Advisors

Overview

Salary Median (2020)

$89,330

Projected Job Growth (2019-2029)

+4.4% (slower than the average)

Most Common Level of Education

Bachelor's degree

Career

What Personal Financial Advisors Do

Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients.

Other Job Titles Personal Financial Advisors May Have

Certified Financial Planner (CFP), Financial Advisor, Financial Consultant, Financial Counselor, Financial Planner, Investment Adviser, Investment Advisor, Portfolio Manager, Wealth Advisor

How Leaders Describe a Typical Day at Work

Financial Advisor

My assistant schedules meetings with clients, then I review each client's investment portfolio. More than just focusing on their actual investments, I spend time figuring out what is meaningful to them. I'll spend each meeting figuring out what makes my clients unhappy, nervous, or unsure, and then I analyze how I can solve those problems for them from a financial perspective. I also spend a lot of time networking with accountants and attorneys who can potentially refer potential clients to me.

Personal Account Manager ,

Capital One

I sit in a cubicle for 8 hours fielding calls from bank customers concerning the accumulated rewards on their personal banking cards. This may sound boring and routine until something goes wrong, then I problem solve and assist the customers in achieving the end results that they are able to achieve.


Tasks & Responsibilities May Include

  • Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
  • Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
  • Manage client portfolios, keeping client plans up-to-date.
  • Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
  • Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.

This page includes information from theO*NET 25.0 Databaseby the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under theCC BY 4.0license. O*NET® is a trademark of USDOL/ETA.