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The differences between investment representatives and finance advisors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become an investment representative, becoming a finance advisor takes usually requires 2-4 years. Additionally, an investment representative has an average salary of $65,361, which is higher than the $64,993 average annual salary of a finance advisor.
The top three skills for an investment representative include money management, mutual funds and financial services. The most important skills for a finance advisor are team support, wealth management, and securities.
| Investment Representative | Finance Advisor | |
| Yearly salary | $65,361 | $64,993 |
| Hourly rate | $31.42 | $31.25 |
| Growth rate | 10% | 15% |
| Number of jobs | 35,914 | 106,311 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 74% |
| Average age | 43 | 45 |
| Years of experience | 6 | 4 |
Investment representatives, also known as financial advisers, usually work in a bank, investment company, credit institution, or other financial firm. They handle the marketing and promotion of financial services and give clients investment advice. They do this is the phone or through face-to-face transactions. This position requires someone to be customer-oriented, communicate effectively, and know how to handle a crisis.
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.
Investment representatives and finance advisors have different pay scales, as shown below.
| Investment Representative | Finance Advisor | |
| Average salary | $65,361 | $64,993 |
| Salary range | Between $37,000 And $112,000 | Between $34,000 And $121,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | American Century Investments | Enbridge |
| Best paying industry | Finance | Finance |
There are a few differences between an investment representative and a finance advisor in terms of educational background:
| Investment Representative | Finance Advisor | |
| Most common degree | Bachelor's Degree, 78% | 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 investment representatives' and finance advisors' demographics:
| Investment Representative | Finance Advisor | |
| Average age | 43 | 45 |
| Gender ratio | Male, 72.1% Female, 27.9% | Male, 72.3% Female, 27.7% |
| Race ratio | Black or African American, 5.9% Unknown, 4.2% Hispanic or Latino, 12.4% Asian, 9.9% White, 67.4% American Indian and Alaska Native, 0.2% | 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 | 6% | 5% |