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Personal Financial Advisor

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AVG. SALARY

$161,110

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EDUCATION

Bachelor's degree

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JOB OUTLOOK

Stable

What They Do

Personal Financial Advisors Career Video

About This Career

Advises 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.

This career is part of the Finance cluster Securities and Investments pathway.

A person in this career:

  • Interviews clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
  • Recommends to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
  • Manages client portfolios, keeping client plans up-to-date.
  • Implements financial planning recommendations, or refers clients to someone who can assist them with plan implementation.
  • Answers clients' questions about the purposes and details of financial plans and strategies.
  • Analyzes financial information obtained from clients to determine strategies for meeting clients' financial objectives.
  • Reviews clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
  • Contacts clients periodically to determine any changes in their financial status.
  • Investigates available investment opportunities to determine compatibility with client financial plans.
  • Explains to clients the personal financial advisor's responsibilities and the types of services to be provided.

Working Conditions and Physical Demands

People who do this job report that:

  • You would sit most of the time. There's some walking and standing. You may have to lift and carry things like books, papers or tools weighing 10 lbs. or less.
  • Work in this occupation requires being inside most of the time
  • Work in this occupation involves sitting more than one-third of the time

Working in this career involves (physical activities):

  • Seeing clearly up close
  • Speaking clearly enough to be able to be understood by others
  • Identifying and understanding the speech of another person

Work Hours and Travel

  • Irregular hours

Specialty and Similar Careers

Careers that are more detailed or close to this career:

  • Certified Financial Planner (CFP)
  • Financial Advisor — Provides financial advice or guidance to customers.
  • Financial Consultant
  • Financial Counselor
  • Financial Planner — Develops and implements financial plans for individuals, businesses, and organizations, utilizing knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate.
  • Investment Advisor
  • Portfolio Manager — Ultimately responsible for the performance and the day to day operation of a fund or asset management vehicle.
  • Wealth Advisor
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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.