Career Overview
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 Planner
- Portfolio Manager
Alternate Job Titles
- Account Manager
- Asset Analyst
- Asset Manager
- Budget Counselor
- Certified Financial Planner (CFP)
- Chartered Financial Analyst (CFA)
- Client Advisor
- Credit Counselor
- Debt Counselor
- Estate Planner
- Estate Planning Counselor
- Estate Trustee
- Finance Consultant
- Financial Advisor
- Financial Advisor Associate
What You'll Do
In this role, your typical responsibilities 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.
- Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
- Answer clients' questions about the purposes and details of financial plans and strategies.
- Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
- Manage client portfolios, keeping client plans up-to-date.
- Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
- Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
Knowledge You'll Use
You'll need solid knowledge in these areas:
- Customer and Personal Service
- Economics and Accounting
- English Language
- Mathematics
Essential Skills
Success in this career requires strong skills in:
- Reading Comprehension
- Active Listening
- Speaking
- Writing
- Critical Thinking
- Mathematics
- Social Perceptiveness
- Service Orientation
- Complex Problem Solving
- Judgment and Decision Making
Key Abilities
This career requires key abilities in:
- Oral Comprehension
- Written Comprehension
- Speech Clarity
- Oral Expression
- Inductive Reasoning
- Written Expression
- Deductive Reasoning
- Number Facility
- Near Vision
- Problem Sensitivity
Work Style
People who excel in this career typically demonstrate:
- Attention to Detail
- Integrity
- Dependability
- Cautiousness
- Intellectual Curiosity
What Matters in This Career
This career tends to satisfy these work values:
- Independence
- Achievement
- Working Conditions
- Recognition
- Relationships
Education & Preparation
Typical Education: Bachelor's Degree
Related Work Experience Needed: Over 2 years, up to and including 4 years
On-the-Job Training: Over 6 months, up to and including 1 year
Education Details: Most of these occupations require a four-year bachelor's degree, but some do not.
Experience Required: A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Technology You'll Use
Popular Technologies & Software
- Microsoft Access
- Microsoft Excel
- Microsoft Office software
- Microsoft Outlook
- Microsoft PowerPoint
- Microsoft Project
- Microsoft SQL Server
- Microsoft Visual Basic
- Microsoft Word
- Salesforce software
Tools & Equipment
- 10-key calculators
- Desktop computers
- Notebook computers
- Personal computers
- Personal digital assistants PDA
- Tablet computers
Work Environment
- Indoors, Environmentally Controlled
- Importance of Being Exact or Accurate
- Telephone Conversations
- Spend Time Sitting
Salary & Job Market
| Salary Percentile | Annual Wage |
|---|---|
| Entry-Level (10th percentile) | $49,990 |
| Median | $102,140 |
| Top Earners (90th percentile) | >$239,200 |
Workers Employed Nationally: 270,480
Related Careers
If you're interested in this career, you might also consider:
Financial and Investment Analysts
Education: Not specified
Median Salary: $101,350
Credit Counselors
Education: Bachelor's Degree
Median Salary: $50,480
Securities, Commodities, and Financial Services Sales Agents
Education: Bachelor's Degree
Median Salary: $78,140
Investment Fund Managers
Education: Master's Degree
Median Salary: $161,700
Financial Risk Specialists
Education: Not specified
Median Salary: $106,000
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Occupational data sourced from the O*NET OnLine database, developed by the U.S. Department of Labor, Employment and Training Administration. Wage data from the U.S. Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS), 2024.