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Become A Finance Advisor

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Working As A Finance Advisor

  • Getting Information
  • Evaluating Information to Determine Compliance with Standards
  • Interacting With Computers
  • Making Decisions and Solving Problems
  • Establishing and Maintaining Interpersonal Relationships
  • Mostly Sitting

  • $76,000

    Average Salary

What Does A Finance Advisor Do

Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances.  

Duties

Personal financial advisors typically do the following:

  • Meet with clients in person to discuss their financial goals
  • Explain the types of financial services they provide to potential clients
  • Educate clients and answer questions about investment options and potential risks
  • Recommend investments to clients or select investments on their behalf
  • Help clients plan for specific circumstances, such as education expenses or retirement
  • Monitor clients’ accounts and determine if changes are needed to improve the performance or to accommodate life changes, such as getting married or having children
  • Research investment opportunities

Personal financial advisors assess the financial needs of individuals and help them with decisions on investments (such as stocks and bonds), tax laws, and insurance. Advisors help clients plan for short- and long-term goals, such as meeting education expenses and saving for retirement through investments. They invest clients’ money based on the clients’ decisions. Many advisors also provide tax advice or sell insurance.

Although most planners offer advice on a wide range of topics, some specialize in areas such as retirement or risk management (evaluating how willing the investor is to take chances and adjusting investments accordingly).

Many personal financial advisors spend a lot of time marketing their services, and they meet potential clients by giving seminars or through business and social networking. Networking is the process of meeting and exchanging information with people, or groups of people, who have similar interests.

After financial advisors have invested funds for a client, they and the client receive regular investment reports. Advisors monitor the client’s investments and usually meet with each client at least once a year to update the client on potential investments and to adjust the financial plan based on the client’s circumstances or because investment options may have changed.

Many personal financial advisors are licensed to directly buy and sell financial products, such as stocks, bonds, annuities, and insurance. Depending on the agreement they have with their clients, personal financial advisors may have the client’s permission to make decisions about buying and selling stocks and bonds.

Private bankers or wealth managers are personal financial advisors who work for people who have a lot of money to invest. These clients are similar to institutional investors (commonly, companies or organizations), and they approach investing differently than the general public does. Private bankers manage a collection of investments, called a portfolio, for these clients by using the resources of the bank, including teams of financial analysts, accountants, and other professionals.

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How To Become A Finance Advisor

Personal financial advisors typically need a bachelor’s degree. A master’s degree and certification can improve one’s chances for advancement in the occupation.

Education

Personal financial advisors typically need a bachelor’s degree. Although employers usually do not require personal financial advisors to have completed a specific course of study, a degree in finance, economics, accounting, business, mathematics, or law is good preparation for this occupation. Courses in investments, taxes, estate planning, and risk management are also helpful. Programs in financial planning are becoming more available in colleges and universities.

Training

Once they are hired, personal financial advisors often enter an on-the-job training period. During this time, new advisors work under the supervision of senior advisors and learn how to perform their duties, including building a client network and developing investment portfolios. This training usually lasts for more than a year.

Licenses, Certifications, and Registrations

Personal financial advisors who directly buy or sell stocks, bonds, or insurance policies, or who provide specific investment advice, need a combination of licenses that varies with the products they sell. In addition to being required to have those licenses, advisors in smaller firms that manage clients’ investments must be registered with state regulators and those in larger firms must be registered with the Securities and Exchange Commission. Personal financial advisors who choose to sell insurance need licenses issued by state boards. Information on state licensing board requirements for registered investment advisors is available from the North American Securities Administrators Association.

Certifications can enhance a personal financial advisor’s reputation and can help bring in new clients. The Certified Financial Planner Board of Standards offers the Certified Financial Planner (CFP) certification. For this certification, advisors must have a bachelor’s degree, complete at least 3 years of relevant work experience, pass an exam, and agree to adhere to a code of ethics. The exam covers the financial planning process, insurance and risk management, employee benefits planning, taxes and retirement planning, investment and real estate planning, debt management, planning liability, emergency fund reserves, and statistical modeling.

Advancement

A master’s degree in an area such as finance or business administration can improve a personal financial advisor’s chances of moving into a management position and attracting new clients.

Important Qualities

Analytical skills. In determining an investment portfolio for a client, personal financial advisors must be able to take into account a range of information, including economic trends, regulatory changes, and the client’s comfort with risky decisions.

Interpersonal skills. A major part of a personal financial advisor’s job is making clients feel comfortable. Advisors must establish trust with clients and respond well to their questions and concerns.

Math skills. Personal financial advisors should be good at mathematics because they constantly work with numbers. They determine the amount invested, how that amount has grown or decreased over time, and how a portfolio is distributed among different investments.

Sales skills. To expand their base of clients, personal financial advisors must be convincing and persistent in selling their services.

Speaking skills. Personal financial advisors interact with clients every day. They must explain complex financial concepts in understandable language.

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Finance Advisor Jobs

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Finance Advisor Career Paths

Finance Advisor
Account Executive Manager Vice President
Group Vice President
9 Yearsyrs
Account Executive Manager Assistant Vice President
Commercial Lending Vice President
11 Yearsyrs
Account Executive Sales Manager Director Of Sales
Regional Sales Vice President
11 Yearsyrs
Consultant Account Manager Relationship Manager
Senior Relationship Manager
9 Yearsyrs
Consultant Manager Vice President
Vice President And Portfolio Manager
10 Yearsyrs
Consultant Operations Manager Branch Manager
Business Development Officer
7 Yearsyrs
Finance Analyst Project Manager Portfolio Manager
Senior Portfolio Manager
10 Yearsyrs
Specialist Operation Supervisor Assistant Branch Manager
Finance Center Manager
6 Yearsyrs
Relationship Banker Lead Teller Assistant Branch Manager
Banking Center Manager
5 Yearsyrs
Finance Analyst Operations Manager Regional Sales Manager
Vice President & Sales Manager
9 Yearsyrs
Finance Consultant Finance Analyst Controller
Finance Services Director
10 Yearsyrs
Loan Officer Credit Analyst Relationship Manager
Business Relationship Manager
9 Yearsyrs
Specialist Senior Customer Service Representative Assistant Branch Manager
Bank Manager
5 Yearsyrs
Loan Officer Credit Analyst Portfolio Manager
Investments Manager
6 Yearsyrs
Accountant General Manager Market Manager
Market Sales Manager
6 Yearsyrs
Agent Broker Vice President, Fixed Income
Fixed Income Manager
5 Yearsyrs
Finance Specialist Staff Accountant Fund Accountant
Client Account Manager
6 Yearsyrs
Finance Consultant Accountant Accountant And Office Manager
Finance Account Manager
5 Yearsyrs
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Help others decide if this is a good career for them

Average Length of Employment
Investment Advisor 3.3 years
Finance Executive 3.0 years
Finance Advisor 3.0 years
Finance Planner 2.9 years
Finance Consultant 2.6 years
Bank Advisor 2.3 years
Finance Agent 2.1 years
Client Advisor 2.1 years
Top Careers Before Finance Advisor
Internship 7.6%
Manager 5.7%
Owner 4.0%
Cashier 3.6%
Top Careers After Finance Advisor
Owner 6.1%
Consultant 5.9%
Manager 5.0%

Do you work as a Finance Advisor?

Finance Advisor Demographics

Gender

Male

64.8%

Female

26.5%

Unknown

8.7%
Ethnicity

White

59.9%

Hispanic or Latino

16.5%

Black or African American

11.1%

Asian

8.5%

Unknown

4.0%
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Foreign Languages Spoken

Spanish

47.8%

French

10.9%

Mandarin

6.2%

Chinese

5.0%

German

4.6%

Portuguese

4.1%

Italian

3.4%

Russian

2.7%

Cantonese

2.2%

Arabic

2.2%

Korean

2.1%

Hindi

1.8%

Japanese

1.7%

Polish

1.0%

Vietnamese

0.9%

Urdu

0.9%

Hebrew

0.8%

Greek

0.7%

Dutch

0.6%

Ukrainian

0.5%
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Finance Advisor Education

Schools

University of Phoenix

26.4%

Arizona State University

7.1%

Pennsylvania State University

4.4%

Florida State University

4.4%

University of Florida

4.2%

New York University

4.1%

Ohio State University

4.0%

Michigan State University

4.0%

University of South Florida

3.9%

University of Alabama

3.8%

University of Texas at Austin

3.8%

Temple University

3.6%

University of Central Florida

3.6%

University of Houston

3.5%

DePaul University

3.4%

University of Southern California

3.3%

University of Arizona

3.3%

Fordham University

3.2%

Florida International University

3.0%

Texas A&M University

3.0%
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Majors

Business

33.9%

Finance

21.6%

Accounting

7.7%

Economics

5.8%

Marketing

4.7%

Management

4.1%

Psychology

2.9%

Political Science

2.8%

Communication

2.4%

Law

2.1%

Criminal Justice

1.5%

Education

1.4%

History

1.4%

Health Care Administration

1.2%

English

1.2%

Human Resources Management

1.2%

Liberal Arts

1.1%

Insurance

0.9%

International Business

0.9%

Business Economics

0.9%
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Degrees

Bachelors

50.8%

Masters

24.7%

Other

13.7%

Associate

4.8%

Certificate

2.6%

Doctorate

2.4%

Diploma

0.6%

License

0.5%
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Job type you want
Full Time
Part Time
Internship
Temporary
Average Yearly Salary
$76,000
View Detailed Salary Report
$38,000
Min 10%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$76,000
Median 50%
$149,000
Max 90%
Best Paying Company
Guggenheim Partners
Highest Paying City
San Francisco, CA
Highest Paying State
Oregon
Avg Experience Level
2.7 years
How much does a Finance Advisor make at top companies?
The national average salary for a Finance Advisor in the United States is $76,155 per year or $37 per hour. Those in the bottom 10 percent make under $38,000 a year, and the top 10 percent make over $149,000.

Real Finance Advisor Salaries

Job Title Company Location Start Date Salary
Financial Advisor BTG Pactual Us Capital LLC New York, NY Aug 12, 2015 $201,510
Financial Advisor BTG Pactual Us Capital LLC New York, NY Nov 03, 2016 $201,510
Financial Advisor UBS Financial Services Inc. New York, NY Dec 10, 2016 $153,546
Financial Advisor M.E. Zukerman & Co. Incorporated. New York, NY Jan 04, 2016 $153,546 -
$225,000
Financial Advisor Banco ITAU International New York, NY Aug 26, 2015 $150,000
Financial Advisor Banco ITAU Europa International New York, NY Aug 23, 2015 $150,000
Financial Advisor BTG Pactual Us Capital LLC New York, NY Aug 16, 2015 $150,000 -
$250,000
Financial Advisor BTG Pactual Us Capital LLC New York, NY Oct 06, 2015 $150,000 -
$250,000
Financial Advisor Banco ITAU International New York, NY Mar 12, 2015 $150,000
Senior Finance Advisor Dentons Us LLP Washington, DC Mar 10, 2015 $144,000
Financial Advisor CITI International Financial Services, LLC San Juan, PR Jan 26, 2016 $140,000
Financial Advisor Wells Fargo Advisors, LLC Miami, FL Aug 17, 2015 $135,013
International Financial Advisor Monex Securities, Inc. Houston, TX Jun 03, 2015 $90,813
International Financial Advisor Monex Securities, Inc. Houston, TX Apr 25, 2016 $90,813
Financial Analysis Advisor Dell Products LP Austin, TX Sep 09, 2016 $89,800
International Financial Advisor Dimension Energy Services, LLC Victoria, TX Jul 09, 2016 $87,630
Financial Advisor National Securities Corporation Boca Raton, FL Jun 01, 2015 $86,861
Financial Advisor Actinver Securities, Inc. San Antonio, TX Nov 14, 2016 $86,133
Financial Advisor Wells Fargo Advisors, LLC Miami, FL Aug 17, 2015 $85,342
Financial Advisor Blue Ocean Partners LLC New York, NY Feb 09, 2016 $63,215
Financial Advisor Taos Global Group of New York, Inc. New York, NY Sep 09, 2016 $63,003
Advisor Financial Planning & Analysis Cardinal Health, Inc. Twinsburg, OH Jan 09, 2016 $62,500 -
$108,750
Personal Financial Advisor Stavis-Cohen Management Co. Houston, TX Sep 09, 2016 $62,000
Personal Financial Advisor Stavis-Cohen Management Co. Houston, TX Feb 03, 2016 $62,000
Strategy Accounting & Financial Advisor Lee & Advocates Buena Park, CA Jul 29, 2015 $61,443
Financial Management Adviser American Lending LLC. Boston, MA Sep 22, 2015 $61,212

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Top Skills for A Finance Advisor

  1. Financial Advisor
  2. Asset Allocation
  3. Financial Products
You can check out examples of real life uses of top skills on resumes here:
  • Developed financial advisory practice via telemarketing and referrals.
  • Developed and monitored customized asset allocation models for a concentrated group of high net worth families and individuals.
  • Researched numerous financial products to determine suitability for each client and prospect.
  • Build and maintain well informed client bases and professional relationships, keeping current client plans up-to-date and continuously recruiting new clients.
  • Implemented investment strategies for accumulation of wealth, tax efficiency, and distribution of sustainable retirement income.

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Top 10 Best States for Finance Advisors

  1. Florida
  2. New York
  3. Connecticut
  4. New Jersey
  5. District of Columbia
  6. North Carolina
  7. Georgia
  8. Maine
  9. Rhode Island
  10. Wisconsin
  • (246 jobs)
  • (240 jobs)
  • (68 jobs)
  • (117 jobs)
  • (26 jobs)
  • (121 jobs)
  • (125 jobs)
  • (12 jobs)
  • (27 jobs)
  • (77 jobs)

Top Finance Advisor Employers

Jobs From Top Finance Advisor Employers

Finance Advisor Videos

Personal Financial Advisor Career Information : Personal Financial Advisor Salary

Financial Advisor - Career Conversation

A Day in the Life of a Financial Advisor

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