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The differences between finance counselors and investment 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 finance counselor and an investment consultant. Additionally, an investment consultant has an average salary of $109,300, 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 consultant are financial services, FINRA, and financial products.
| Finance Counselor | Investment Consultant | |
| Yearly salary | $40,561 | $109,300 |
| Hourly rate | $19.50 | $52.55 |
| Growth rate | 15% | 15% |
| Number of jobs | 101,005 | 48,111 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 77% |
| 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 consultant is an individual who gives investment products, planning, and/or advice to investors. Investment consultants formulate investment strategies to help clients fulfill their necessities and realize their financial objectives. They create internal research documents that outline real estate investment opportunities and private equity. It is also part of their job to review strategies of asset management that recognize estate and income tax needs.
Finance counselors and investment consultants have different pay scales, as shown below.
| Finance Counselor | Investment Consultant | |
| Average salary | $40,561 | $109,300 |
| Salary range | Between $32,000 And $50,000 | Between $60,000 And $196,000 |
| Highest paying City | Glen Cove, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Morgan Stanley | Bailey & Glasser |
| Best paying industry | Health Care | Finance |
There are a few differences between a finance counselor and an investment consultant in terms of educational background:
| Finance Counselor | Investment Consultant | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 77% |
| 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 consultants' demographics:
| Finance Counselor | Investment Consultant | |
| Average age | 45 | 45 |
| Gender ratio | Male, 21.0% Female, 79.0% | Male, 79.7% Female, 20.3% |
| 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, 5.7% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.4% White, 71.9% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 5% | 5% |