Money manager vs finance advisor

The differences between money managers and finance advisors can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 6-8 years to become a money manager, becoming a finance advisor takes usually requires 2-4 years. Additionally, a money manager has an average salary of $73,231, which is higher than the $64,993 average annual salary of a finance advisor.

The top three skills for a money manager include BSA, anti-money laundering and bank secrecy act. The most important skills for a finance advisor are team support, wealth management, and securities.

Money manager vs finance advisor overview

	Money Manager	Finance Advisor
Yearly salary	$73,231	$64,993
Hourly rate	$35.21	$31.25
Growth rate	17%	15%
Number of jobs	58,982	106,311
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 74%
Average age	46	45
Years of experience	8	4

Money manager vs finance advisor salary

Money managers and finance advisors have different pay scales, as shown below.

	Money Manager	Finance Advisor
Average salary	$73,231	$64,993
Salary range	Between $47,000 And $112,000	Between $34,000 And $121,000
Highest paying City	-	New York, NY
Highest paying state	-	New York
Best paying company	-	Enbridge
Best paying industry	-	Finance

Differences between money manager and finance advisor education

There are a few differences between a money manager and a finance advisor in terms of educational background:

	Money Manager	Finance Advisor
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 74%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Minnesota - Twin Cities

Money manager vs finance advisor demographics

Here are the differences between money managers' and finance advisors' demographics:

	Money Manager	Finance Advisor
Average age	46	45
Gender ratio	Male, 43.5% Female, 56.5%	Male, 72.3% Female, 27.7%
Race ratio	Black or African American, 7.4% Unknown, 4.1% Hispanic or Latino, 14.2% Asian, 10.0% White, 64.0% American Indian and Alaska Native, 0.3%	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	11%	5%

Differences between money manager and finance advisor duties and responsibilities

Money manager example responsibilities.

Decrease manual processing time by successfully managing the implementation of a new software system for the BSA unit.
Assist clients with addressing BSA, AML & OFAC requirements resulting from regulatory actions against the clients.
Process fundamental and technical analysis for strategic trading of equities.
Assist in implementing effective procedures for the ACH department.
Perform daily vault balancing, ATM servicing and transaction approvals.
Review portfolio positioning and investment results with clients, consultants, and prospects.

Finance advisor example responsibilities.

Manage all budget and forecast submissions into Hyperion.
Manage $3MM private investment portfolio consisting of mid-cap/large-cap equities.
Structure and manage investment portfolios using a range of financial instruments, including equity securities and fix income instruments.
Manage and strengthen customer relationships through cross-selling and up-selling to maximize retention and income generation by contacting existing and prospective customers.
Research eligibility and status of all Medicare and Medicaid patients.
Perform portfolio analysis using MorningStar workstation and complete cost basis research project.

Money manager vs finance advisor skills

Common money manager skills

BSA, 18%
Anti-Money Laundering, 15%
Bank Secrecy Act, 11%
OFAC, 9%
Transaction Monitoring, 8%
Risk Management, 7%

Common finance advisor skills

Team Support, 7%
Wealth Management, 7%
Securities, 6%
Strong Computer, 6%
Financial Services, 6%
Client Facing, 5%