Personal Financial Advisors

General Information

Description

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.

Business Breakdown

People in this career work in these sectors.

  1. Private, for profit73.33%
  2. Self-employed20.55%
  3. Private, not for profit3.56%
  4. State and local government1.19%
  5. Federal government1.16%

Workplace at a Glance

What you can expect to experience while on the job

  • Responsibility
  • Exposure to job hazards
  • Physical activity
  • Decision making
  • Repetitiveness
  • Level of competition
  • Time pressure

Job Outlook

Employment of personal financial advisors is projected to grow 5 percent from 2020 to 2030, slower than the average for all occupations. Despite limited employment growth, about 21,500 openings for personal financial advisors are projected each year, on average, over the decade. Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

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Salary

Average Salary

Salary

$89,330

State-by-state Salary

Gray states indicate no data available

$144,320
$45,500
No Information for this section

Education

Most Common Education Levels

People in this career achieve this level of education.

  • Bachelor's degree 52%
  • Post baccalaureate 34%
  • Less than high school 4%
  • First professional degree 4%
  • Post-secondary certificate 4%
  • High school 0%
  • Some college 0%
  • Master's degree 0%
  • Doctoral degree 0%
  • Associate's degree 0%
  • Post-doctoral training 0%
  • Post-master's certificate 0%

Related College Majors

Select major to see colleges that offer it

Knowledge

  • Customer and Personal Service
  • Mathematics
  • Economics and Accounting
  • Psychology
  • Sales and Marketing

Skills at a Glance

Skills helpful in this career

  • Verbal skills
  • Critical thinking & problem solving
  • Equipment operation & maintenance
  • Math & science skills
  • Technology design & control
  • Leadership
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