Personal Financial Advisors

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What do they 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.

Also known as:

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

Typical Wages

Annual wages for Personal Financial Advisors in United States

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Projected Growth Rate

Employment of Personal Financial Advisors is projected to grow 7 percent from 2018 to 2028, about as fast as average compared to all occupations.

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Projected Employment

No Data Available

Projected Employment Rankings For All United States:

  • 7%

    Percent Change

    Select a state to see its job growth rate ranking
  • 23,200

    Annual Projected Job Openings

    Select a state to see its net job growth ranking

Select Type of Degree:

Typical College Majors

Majors that prepare Personal Financial Advisors:

Indicates your preferred majors

★ Number of granted degrees for degree type, Bachelors degree, is listed after the major.

Education Level

  • Doctorate or Professional Degree (5.7%)
  • Master's degree (23.9%)
  • Bachelor's degree (52.9%)
  • Associate's degree (3.9%)
  • Some college, no degree (9.6%)
  • High school diploma equivalent (3.2%)
  • Less than high school diploma (0.8%)

Percent of workers in this field

Colleges that Prepare

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Skills

People in this career often have these skills:

  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking - Talking to others to convey information effectively.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
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Knowledge

People in this career often know a lot about:

  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Psychology - Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders.
  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
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Abilities

People in this career often have talent in:

  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Speech Clarity - The ability to speak clearly so others can understand you.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
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Activities: what you might do in a day

People in this career often do these activities:

  • Interview clients to gather financial information.
  • Recommend investments to clients.
  • Implement financial decisions.
  • Assess financial status of clients.
  • Correspond with customers to answer questions or resolve complaints.
  • Educate clients on financial planning topics.
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This page includes data from:

O*NET OnLine Career data: O*NET 25.1 Database by the U.S. Department of Labor, Employment and Training Administration (“USDOL/ETA”). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA

Occupation statistics: USDOL U.S. Bureau of Labor Statistics Occupational Employment Statistics

careeronestop logo Videos: CareerOneStop, USDOL/ETA and the Minnesota Department of Employment & Economic Development

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