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The differences between investment representatives and investment 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 an investment advisor takes usually requires 2-4 years. Additionally, an investment advisor has an average salary of $105,377, which is higher than the $65,361 average annual salary of an investment representative.
The top three skills for an investment representative include money management, mutual funds and financial services. The most important skills for an investment advisor are exceptional client, risk management, and client relationships.
| Investment Representative | Investment Advisor | |
| Yearly salary | $65,361 | $105,377 |
| Hourly rate | $31.42 | $50.66 |
| Growth rate | 10% | 15% |
| Number of jobs | 35,914 | 63,438 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 76% |
| 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.
An investment advisor is responsible for managing the clients' financial portfolios, advising them of investment options according to their financial goals and objectives, and their ability to handle risks. Investment advisors should have excellent knowledge of the investment policies, providing the clients with the best financial strategies according to their interests. They also determine their expenses, income, and credit scores to identify a comprehensive financial plan. An investment advisor helps the clients with cash management techniques, as well as conducting data analysis on financial market projections.
Investment representatives and investment advisors have different pay scales, as shown below.
| Investment Representative | Investment Advisor | |
| Average salary | $65,361 | $105,377 |
| Salary range | Between $37,000 And $112,000 | Between $60,000 And $184,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | American Century Investments | McKinsey & Company Inc |
| Best paying industry | Finance | Telecommunication |
There are a few differences between an investment representative and an investment advisor in terms of educational background:
| Investment Representative | Investment Advisor | |
| Most common degree | Bachelor's Degree, 78% | Bachelor's Degree, 76% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between investment representatives' and investment advisors' demographics:
| Investment Representative | Investment 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, 9.4% Asian, 8.2% White, 72.3% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 5% |