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The differences between insurance advisers and finance advisors can be seen in a few details. Each job has different responsibilities and duties. Additionally, an insurance adviser has an average salary of $66,816, which is higher than the $64,993 average annual salary of a finance advisor.
The top three skills for an insurance adviser include insurance sales, insurance options and annuities. The most important skills for a finance advisor are team support, wealth management, and securities.
| Insurance Adviser | Finance Advisor | |
| Yearly salary | $66,816 | $64,993 |
| Hourly rate | $32.12 | $31.25 |
| Growth rate | 6% | 15% |
| Number of jobs | 47,713 | 106,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 74% |
| Average age | 46 | 45 |
| Years of experience | - | 4 |
Insurance advisers are professionals who represent an insurance company to sell insurance products to clients and earn commission on each policy that they sell. These advisers are required to align the company's insurance policies to the financial needs of each individual so that they can sell the maximum number of policies. They must oversee whether correct information is provided by their clients while explaining to them the relevance of the different parts of the proposal form. Insurance advisers must also help their clients get their claim settlements by showing them the correct process and completing the required documents.
A Financial Advisor specializes in sharing their expertise with an individual or company on how to handle and boost finances. The responsibilities of a Financial Advisor include creating and proposing a strategy to attain financial gains through profits and investments, educating the client about new methods and opportunities, monitor and evaluate progress, and as well as plan policies according to the clients' life changes. Furthermore, it is also the duty of the Financial Advisor to research new investments that would be of great help to the client's assets.
Insurance advisers and finance advisors have different pay scales, as shown below.
| Insurance Adviser | Finance Advisor | |
| Average salary | $66,816 | $64,993 |
| Salary range | Between $43,000 And $103,000 | Between $34,000 And $121,000 |
| Highest paying City | Madison, WI | New York, NY |
| Highest paying state | Wisconsin | New York |
| Best paying company | Salesforce | Enbridge |
| Best paying industry | - | Finance |
There are a few differences between an insurance adviser and a finance advisor in terms of educational background:
| Insurance Adviser | Finance Advisor | |
| Most common degree | Bachelor's Degree, 58% | Bachelor's Degree, 74% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between insurance advisers' and finance advisors' demographics:
| Insurance Adviser | Finance Advisor | |
| Average age | 46 | 45 |
| Gender ratio | Male, 54.6% Female, 45.4% | Male, 72.3% Female, 27.7% |
| Race ratio | Black or African American, 9.4% Unknown, 3.6% Hispanic or Latino, 16.1% Asian, 4.9% White, 65.9% American Indian and Alaska Native, 0.1% | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.5% Asian, 8.3% White, 72.1% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 7% | 5% |