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The differences between finance planners and client 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 planner and a client advisor. Additionally, a finance planner has an average salary of $71,607, which is higher than the $71,135 average annual salary of a client advisor.
The top three skills for a finance planner include financial aid, financial services and client facing. The most important skills for a client advisor are customer service, business development, and CRM.
| Finance Planner | Client Advisor | |
| Yearly salary | $71,607 | $71,135 |
| Hourly rate | $34.43 | $34.20 |
| Growth rate | 15% | 15% |
| Number of jobs | 91,557 | 86,363 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 64% |
| Average age | 45 | 45 |
| Years of experience | 4 | 4 |
A financial planner is responsible for handling client accounts and providing financial advice to determine the best investment options according to the clients' interests and risk appetite. Financial planners record the clients' living expenses as a part of their portfolio, identifying their long-term goals and objectives, and giving tax advice. They also educate clients with investment options and opportunities to improve the clients' account performance and sell financial products. A financial planner must have excellent analytical and communication skills to conduct data and statistical analysis, especially in researching financial instruments in the market.
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.
Finance planners and client advisors have different pay scales, as shown below.
| Finance Planner | Client Advisor | |
| Average salary | $71,607 | $71,135 |
| Salary range | Between $42,000 And $120,000 | Between $40,000 And $123,000 |
| Highest paying City | Springfield, MA | New York, NY |
| Highest paying state | Massachusetts | New York |
| Best paying company | Northern Trust | BP America Inc |
| Best paying industry | Insurance | - |
There are a few differences between a finance planner and a client advisor in terms of educational background:
| Finance Planner | Client Advisor | |
| Most common degree | Bachelor's Degree, 73% | Bachelor's Degree, 64% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between finance planners' and client advisors' demographics:
| Finance Planner | Client Advisor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 62.0% Female, 38.0% | Male, 66.8% Female, 33.2% |
| Race ratio | Black or African American, 5.7% Unknown, 4.4% Hispanic or Latino, 9.6% Asian, 8.4% White, 71.8% American Indian and Alaska Native, 0.1% | 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% |
| LGBT Percentage | 5% | 5% |