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 Advisor, Portfolio Manager, Wealth Advisor

Typical Wages

Projected Growth Rate

Employment of Personal Financial Advisors is projected to grow 10 percent from 2020 to 2030, faster than average compared to all occupations.

Projected Employment in VA

No Data Available
  • 10.9%

    Change

    Ranks #21 in job growth rate
    480

    Job Openings

    Ranks #22 in net job growth

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Education Level

Percent of workers in this field with these degrees:

  • Doctorate or Professional Degree  (5%)
  • Master's degree  (22%)
  • Bachelor's degree  (53%)
  • Associate's degree  (4%)
  • Some college, no degree  (10%)
  • High school diploma equivalent  (4%)
  • Less than high school diploma  (<1%)

Typical College Majors

Most Popular Majors that prepare Personal Financial Advisors

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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.
  • Service Orientation - Actively looking for ways to help people.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
  • Persuasion - Persuading others to change their minds or behavior.
  • Mathematics - Using mathematics to solve problems.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.

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.

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.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
  • Speech Recognition - The ability to identify and understand the speech of another person.
  • Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.
  • Number Facility - The ability to add, subtract, multiply, or divide quickly and correctly.
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing that there is a problem.

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.
  • Identify strategic business investment opportunities.
  • Prepare financial documents, reports, or budgets.
  • Interpret financial information for others.
  • Analyze market conditions or trends.
  • Advise others on financial matters.
  • Develop business relationships.
  • Confer with others about financial matters.
  • Compute debt repayment schedules.
  • Disburse funds from clients accounts to creditors.

This page includes data from:

O*NET OnLine Career data: O*NET 28.2 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

U.S. Bureau of Labor Statistics Logo 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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