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The differences between investment counselors and finance planners can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an investment counselor and a finance planner. Additionally, an investment counselor has an average salary of $120,817, which is higher than the $71,607 average annual salary of a finance planner.
The top three skills for an investment counselor include client service, capital markets and client relationships. The most important skills for a finance planner are financial aid, financial services, and client facing.
| Investment Counselor | Finance Planner | |
| Yearly salary | $120,817 | $71,607 |
| Hourly rate | $58.09 | $34.43 |
| Growth rate | 15% | 15% |
| Number of jobs | 33,016 | 91,557 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 73% |
| Average age | 45 | 45 |
| Years of experience | 4 | 4 |
Investment counselors can be called financial planners. They usually work in a financial institution to communicate with clients on how to invest in an investment. An investment counselor often assesses the client's financial situation to come up with a financial plan. Sometimes, they are also responsible for conducting training and workshops for both clients and bank employees.
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.
Investment counselors and finance planners have different pay scales, as shown below.
| Investment Counselor | Finance Planner | |
| Average salary | $120,817 | $71,607 |
| Salary range | Between $68,000 And $213,000 | Between $42,000 And $120,000 |
| Highest paying City | New York, NY | Springfield, MA |
| Highest paying state | New York | Massachusetts |
| Best paying company | Citi | Northern Trust |
| Best paying industry | Finance | Insurance |
There are a few differences between an investment counselor and a finance planner in terms of educational background:
| Investment Counselor | Finance Planner | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 73% |
| Most common major | Business | Business |
| Most common college | University of Minnesota - Twin Cities | University of Pennsylvania |
Here are the differences between investment counselors' and finance planners' demographics:
| Investment Counselor | Finance Planner | |
| Average age | 45 | 45 |
| Gender ratio | Male, 74.0% Female, 26.0% | Male, 62.0% Female, 38.0% |
| Race ratio | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.1% White, 72.5% American Indian and Alaska Native, 0.1% | 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% |
| LGBT Percentage | 5% | 5% |