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The differences between finance counselors and investment 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 finance counselor and an investment advisor. Additionally, an investment advisor has an average salary of $105,377, which is higher than the $40,561 average annual salary of a finance counselor.
The top three skills for a finance counselor include patients, customer service and medical terminology. The most important skills for an investment advisor are exceptional client, risk management, and client relationships.
| Finance Counselor | Investment Advisor | |
| Yearly salary | $40,561 | $105,377 |
| Hourly rate | $19.50 | $50.66 |
| Growth rate | 15% | 15% |
| Number of jobs | 101,005 | 63,438 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 76% |
| Average age | 45 | 45 |
| Years of experience | 4 | 4 |
A finance counselor specializes in providing billing advice to patients in a hospital or similar setting. They are primarily responsible for giving cost-estimates and offering financial assistance in payment plans and other options such as insurance. Moreover, they must gather patient information and requirements, verifying them for authenticity. They must also review financial and medical history to ensure that the patient can uphold financial obligations. Furthermore, it is essential to build rapport with clients to improve relationships.
An investment advisor is responsible for managing the clients' financial portfolios, advising them of investment options according to their financial goals and objectives, and their ability to handle risks. Investment advisors should have excellent knowledge of the investment policies, providing the clients with the best financial strategies according to their interests. They also determine their expenses, income, and credit scores to identify a comprehensive financial plan. An investment advisor helps the clients with cash management techniques, as well as conducting data analysis on financial market projections.
Finance counselors and investment advisors have different pay scales, as shown below.
| Finance Counselor | Investment Advisor | |
| Average salary | $40,561 | $105,377 |
| Salary range | Between $32,000 And $50,000 | Between $60,000 And $184,000 |
| Highest paying City | Glen Cove, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Morgan Stanley | McKinsey & Company Inc |
| Best paying industry | Health Care | Telecommunication |
There are a few differences between a finance counselor and an investment advisor in terms of educational background:
| Finance Counselor | Investment Advisor | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between finance counselors' and investment advisors' demographics:
| Finance Counselor | Investment Advisor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 21.0% Female, 79.0% | Male, 72.3% Female, 27.7% |
| Race ratio | Black or African American, 6.1% Unknown, 4.4% Hispanic or Latino, 10.1% Asian, 5.8% White, 73.4% American Indian and Alaska Native, 0.1% | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.2% White, 72.3% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 5% | 5% |