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Personal Financial Advisors

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.

Watch this work See majors and colleges
Other titles employers use

Certified Financial Planner (CFP) · Financial Advisor · Financial Consultant · Financial Counselor · Financial Life Planner · Financial Planner · Investment Advisor · Portfolio Manager

Inside the work

What you would actually do.

6 responsibilities that define the role, before job titles and workplaces change the details.

  • 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.

Who it suits

Would this work hold your attention?

This career often appeals to people drawn to persuading, organizing and helping work.

Persuading
Leading, selling, starting projects, or making a case
Organizing
Creating order, checking details, and keeping work accurate

Skills and strengths

What you would get good at.

Compare the skills the work relies on, the subjects behind it, and the abilities that make it easier to learn.

Core skills

  • Reading Comprehension
  • Active Listening
  • Speaking
  • Writing
  • Critical Thinking
  • Mathematics

Subjects to know

  • Customer and Personal Service
  • Economics and Accounting
  • English Language
  • Mathematics
  • Psychology

Useful strengths

  • Oral Comprehension
  • Written Comprehension
  • Oral Expression
  • Speech Clarity
  • Inductive Reasoning

Working day

Picture yourself doing it.

These measures show how much of the day involves people, movement, conversation, and hands-on work.

How this job scores on four measures of working conditions, out of five
MeasureOut of 5What that means here
Close to other people2.4 Largely your own space
On your feet1.6 Mostly seated
Talking face to face4.1 A regular part of the day
Working with your hands1.5 Little of the day

Preparation

How people prepare for this work.

Employers usually ask for a bachelor's degree. Other routes may also lead into the field.

  • A four-year degree 58%
  • A master's degree 34%
  • A certificate or some college 8%

Tools of the work

Technology you may use.

  • Data base user interface and query software
  • Customer relationship management CRM software
  • Word processing software
  • Spreadsheet software
  • Presentation software
  • Office suite software
  • Electronic mail software
  • Project management software

Opportunity near you

See where this work is growing.

Choose a state to compare the size of the field, annual openings, and expected hiring change.

Selected stateCalifornia
People doing this work
43,900
Job openings each year
3,130
Expected hiring change, 2022–2032
16.8%
Compare every available state
State People doing it Job openings each year Expected change
California 43,900 3,130 16.8%
Florida 33,970 2,460 18.8%
Texas 31,950 2,520 33.7%
New York 26,830 60 2.4%
North Carolina 19,460 1,450 23.5%
Illinois 16,170 1,120 12.2%
Pennsylvania 14,210 970 10.8%
Ohio 13,340 970 18.8%
New Jersey 10,640 710 8.4%
Georgia 9,670 730 24.9%
Colorado 9,410 690 19.7%
Arizona 8,300 630 25.6%
Michigan 8,290 580 12.9%
Minnesota 8,150 560 12.3%
Maryland 7,870 570 17.6%
Virginia 7,250 500 12.6%
Missouri 7,170 540 23.6%
Wisconsin 7,170 530 20.5%
Washington 7,090 670 23.5%
Indiana 6,300 440 14.5%
Utah 5,750 490 52.1%
Tennessee 4,720 310 4.4%
Kansas 4,700 340 19.0%
Connecticut 4,480 310 12.8%
Massachusetts 4,350 300 11.5%
South Carolina 4,310 350 39.0%
Kentucky 4,210 290 13.5%
Alabama 3,560 250 12.3%
Oregon 3,460 240 11.6%
Iowa 2,870 200 16.2%
Nevada 2,620 190 18.6%
New Hampshire 2,510 180 16.7%
Arkansas 2,460 170 13.4%
Oklahoma 2,410 170 13.7%
Louisiana 1,870 130 10.0%
Nebraska 1,610 110 10.3%
Mississippi 1,490 110 14.6%
Rhode Island 1,480 90 2.8%
District of Columbia 1,060 70 10.4%
Maine 980 60 7.7%
Montana 970 70 19.8%
Idaho 960 70 23.1%
West Virginia 900 60 12.5%
New Mexico 880 60 18.9%
North Dakota 730 50 23.7%
Wyoming 680 50 19.3%
Vermont 620 50 31.9%
South Dakota 580 40 18.4%
Puerto Rico 530 40 20.5%
Alaska 120 10 —
Virgin Islands 50 0 25.0%

Career to college

Build a path toward this work.

Start with a related major, then compare colleges where students complete that field.

CareerPersonal Financial Advisors
Most direct field Finance Related field Family and Consumer Economics and Related Studies

Where to study

Colleges with strong activity in these fields.

Start with program size, admission, and likely cost. Open a college for the full picture.

NY

CUNY Bernard M Baruch College

Degrees each year
891
Admit rate
50%
Annual cost after aid
$6,000

Program entryApply after enrollment

Open college OH

Ohio State University-Main Campus

Degrees each year
874
Admit rate
51%
Annual cost after aid
$10,000

Program entryOpen major

Open college FL

Florida State University

Degrees each year
703
Admit rate
25%
Annual cost after aid
$10,000

Program entryApply after enrollment

Open college GA

University of Georgia

Degrees each year
652
Admit rate
37%
Annual cost after aid
$13,000

Program entryApply after enrollment

Open college SC

University of South Carolina-Columbia

Degrees each year
597
Admit rate
61%
Annual cost after aid
$20,000

Program entryOpen major

Open college AL

The University of Alabama

Degrees each year
615
Admit rate
76%
Annual cost after aid
$22,000

Program entryOpen major

Open college PA

Pennsylvania State University-Main Campus

Degrees each year
577
Admit rate
54%
Annual cost after aid
$26,000

Program entryDirect to major

Open college FL

Florida International University

Degrees each year
573
Admit rate
59%
Annual cost after aid
$11,000

Program entryOpen major

Open college

Compare every college offering finance and financial management services

Keep exploring

Careers with something in common.

Compare paths that use similar training and strengths.

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