Client advisor vs wealth management advisor

The differences between client advisors and wealth management advisors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a client advisor and a wealth management advisor. Additionally, a wealth management advisor has an average salary of $91,605, which is higher than the $71,135 average annual salary of a client advisor.

The top three skills for a client advisor include customer service, business development and CRM. The most important skills for a wealth management advisor are customer service, insurance products, and securities.

Client advisor vs wealth management advisor overview

	Client Advisor	Wealth Management Advisor
Yearly salary	$71,135	$91,605
Hourly rate	$34.20	$44.04
Growth rate	15%	15%
Number of jobs	86,363	127,946
Job satisfaction	-	4
Most common degree	Bachelor's Degree, 64%	Bachelor's Degree, 72%
Average age	45	45
Years of experience	4	4

What does a client advisor do?

A client advisor is responsible for managing and maintaining healthy business relationships with clients to achieve long-term business goals and objectives. Client advisors advise the senior management in building strategic techniques and identify business opportunities that would generate more revenue resources and increase the company's profits. They also monitor business and financial transactions and analyze client portfolios to determine their needs and interests, recommending plans and coordinating with the senior management to achieve the highest client satisfaction.

What does a wealth management advisor do?

As a wealth management advisor, you will be responsible for advising and guiding clients on financial plans using your knowledge and expertise on investment and tax strategies, pension plans, insurance, real estate, and securities. You will be regularly checking clients to re-evaluate their situation and future financial goals. Additionally, you are responsible for assessing clients' tolerance for risk and providing an investment strategy to help them reach these goals. Other duties and responsibilities may include coordinating with your lawyers or accountants to minimize the tax owed by their clients and assisting clients with estate planning strategies.

Client advisor vs wealth management advisor salary

Client advisors and wealth management advisors have different pay scales, as shown below.

	Client Advisor	Wealth Management Advisor
Average salary	$71,135	$91,605
Salary range	Between $40,000 And $123,000	Between $49,000 And $168,000
Highest paying City	New York, NY	New York, NY
Highest paying state	New York	Massachusetts
Best paying company	BP America Inc	Capital Group
Best paying industry	-	Finance

Differences between client advisor and wealth management advisor education

There are a few differences between a client advisor and a wealth management advisor in terms of educational background:

	Client Advisor	Wealth Management Advisor
Most common degree	Bachelor's Degree, 64%	Bachelor's Degree, 72%
Most common major	Business	Business
Most common college	University of Minnesota - Twin Cities	University of Minnesota - Twin Cities

Client advisor vs wealth management advisor demographics

Here are the differences between client advisors' and wealth management advisors' demographics:

	Client Advisor	Wealth Management Advisor
Average age	45	45
Gender ratio	Male, 66.8% Female, 33.2%	Male, 69.1% Female, 30.9%
Race ratio	Black or African American, 6.1% Unknown, 4.4% Hispanic or Latino, 10.0% Asian, 7.5% White, 71.9% 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 Percentage	5%	5%

Differences between client advisor and wealth management advisor duties and responsibilities

Client advisor example responsibilities.

Manage financial portfolios, loan equities, lease maturities, and intake all lease returns.
Manage multiple complex healthcare treasury service implementations for clients and prospects.
Position require the ability to educate consumers on the BMW product line including its comparison to other high-line vehicles.
Maintain a high level of volume sales as well as CSI ranking.
Maintain higher than dealer average CSI, parts, accessories and FANDI commissions.
Utilize cross-selling and up-selling of products and services to enhance the customer's experience.

Wealth management advisor example responsibilities.

Handle sales of permanent and term insurance, fix annuities, brokerage accounts, mutual funds, and manage money accounts.
Manage FINRA, NASD compliance, quality control and documentation for all stock, bond and option trades place by team.
Manage and strengthen customer relationships through cross-selling and up-selling to maximize retention and income generation by contacting existing and prospective customers.
Contribute MorningStar research reports for mutual fund portfolios.
Maintain and monitor files to ensure proper compliance procedures under FINRA.
Research and compare active vs. passive financial managers who utilize section rotation and ETFs to hedge risk and capture alpha.

Client advisor vs wealth management advisor skills

Common client advisor skills

Customer Service, 18%
Business Development, 8%
CRM, 8%
Wealth Management, 7%
Client Service, 6%
BMW, 4%

Common wealth management advisor skills

Customer Service, 11%
Insurance Products, 8%
Securities, 8%
Portfolio Management, 7%
Client Relationships, 7%
FINRA, 6%

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Client Advisor
Client Advisor vs Wealth Management Advisor

Updated January 8, 2025

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