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Bank advisor vs individual pension consultant

The differences between bank advisors and individual pension consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a bank advisor and an individual pension consultant. Additionally, a bank advisor has an average salary of $90,014, which is higher than the $43,775 average annual salary of an individual pension consultant.

The top three skills for a bank advisor include financial services, CRM and client relationships. The most important skills for an individual pension consultant are financial issues, insurance products, and life insurance.

Bank advisor vs individual pension consultant overview

Bank AdvisorIndividual Pension Consultant
Yearly salary$90,014$43,775
Hourly rate$43.28$21.05
Growth rate15%15%
Number of jobs49,4378,112
Job satisfaction--
Most common degreeBachelor's Degree, 64%Bachelor's Degree, 77%
Average age4545
Years of experience44

Bank advisor vs individual pension consultant salary

Bank advisors and individual pension consultants have different pay scales, as shown below.

Bank AdvisorIndividual Pension Consultant
Average salary$90,014$43,775
Salary rangeBetween $56,000 And $143,000Between $26,000 And $73,000
Highest paying City--
Highest paying state--
Best paying company--
Best paying industry--

Differences between bank advisor and individual pension consultant education

There are a few differences between a bank advisor and an individual pension consultant in terms of educational background:

Bank AdvisorIndividual Pension Consultant
Most common degreeBachelor's Degree, 64%Bachelor's Degree, 77%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Minnesota - Twin Cities

Bank advisor vs individual pension consultant demographics

Here are the differences between bank advisors' and individual pension consultants' demographics:

Bank AdvisorIndividual Pension Consultant
Average age4545
Gender ratioMale, 61.3% Female, 38.7%Male, 59.8% Female, 40.2%
Race ratioBlack or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1%Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.3% White, 72.2% American Indian and Alaska Native, 0.1%
LGBT Percentage5%5%

Differences between bank advisor and individual pension consultant duties and responsibilities

Bank advisor example responsibilities.

  • Lead major initiatives in 3concurrent roles successfully manage affluent personal and business portfolio to proactively cross-sell additional products and services.
  • Carry out excellent profiling, cross-selling of all products, and explaining benefits to each client.
  • Utilize cross-selling techniques to sell the best product for each customer's needs.
  • Support banking and lending activity through leveraging securities to provide lending solutions for high net worth clients.
  • Analyze clients' securities portfolios to ensure diversification and margin ability for credit line/loan approval.
  • Lead major initiatives in 3concurrent roles successfully manage affluent personal and business portfolio to proactively cross-sell additional products and services.
  • Show more

Individual pension consultant example responsibilities.

  • Manage files from origination to closing, and accurately organize and review all documents for processing.
  • Provide financial products and services to assist the investors with their financial needs like loans, after tax annuities and IRAs.
  • Review and implement terms of QDRO for retirement annuities in marital dissolution proceedings.
  • Manage files from origination to closing, and accurately organize and review all documents for processing.
  • Remain current on IRA regulations and policies.
  • Develop fee-based blotter reporting program to address AUM reporting and compliance suitability.

Bank advisor vs individual pension consultant skills

Common bank advisor skills
  • Financial Services, 21%
  • CRM, 14%
  • Client Relationships, 13%
  • Cross-Selling, 6%
  • Financial Solutions, 5%
  • Bank Products, 4%
Common individual pension consultant skills
  • Financial Issues, 38%
  • Insurance Products, 14%
  • Life Insurance, 9%
  • Annuities, 7%
  • Asset Retention, 5%
  • Retirement Accounts, 5%

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