I help individuals and companies manage the different risk factors involved in financial investment. I deal with a lot of different kinds of risk and the many ways to mitigate it. I run my company a lot differently than many others in the financial industry. Most companies operate to maximize financial gain, but I operate to not lose capital.
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
Roadtrip Nation Leaders in This 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 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.
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.
Education
Level of Education Attained by Personal Financial Advisors
Most common level of education among people in
this career: Bachelor's degree (54%)
Some college, no degree
Bachelor's degree
Master's degree
Other*
*All other responses combined for clarity.
Majors Related to Career
Educational Paths Suggested by Leaders
Suggested Path
Bachelor
Banking and Financial Support Services
Suggested Path
High School
Bachelor
Investments and Securities
Graduate
Financial Planning and Services
Additional Skills & Experiences That Can Help You Excel
The most important thing is how hard you work. There will always be people who are better than you in various ways. The only thing you can control is your focus and your level of work.
Financial Advisor
As a financial advisor, I'm helping people make huge, impactful decisions about their money. You have to spend a lot of time being thoughtful on top of the analytical skills you develop in school.
Getting Started
Recommended First Step for:
High School Students
Get great grades, meet different people, be friends with everyone, try new things, do drama, do speech class, play sports, have different interests than your friends. Be smart and unique and determined all at the same time.
Find someone who has experience in the field and learn as much as you can from them.
Think about what interest you. What are you comfortable doing? Do you enjoy doing this job? Would you pursue additional training/education in this area? Could you do this same/similar job for the next 5 years?
Volunteer in the community and have a passion to help others.
College Students
Everyone
This page includes information from theO*NET 26.1 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.
