Money manager vs finance planner

The differences between money managers and finance planners 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 planner takes usually requires 2-4 years. Additionally, a money manager has an average salary of $73,231, which is higher than the $71,607 average annual salary of a finance planner.

The top three skills for a money manager include BSA, anti-money laundering and bank secrecy act. The most important skills for a finance planner are financial aid, financial services, and client facing.

Money manager vs finance planner overview

	Money Manager	Finance Planner
Yearly salary	$73,231	$71,607
Hourly rate	$35.21	$34.43
Growth rate	17%	15%
Number of jobs	58,982	91,557
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 73%
Average age	46	45
Years of experience	8	4

Money manager vs finance planner salary

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

	Money Manager	Finance Planner
Average salary	$73,231	$71,607
Salary range	Between $47,000 And $112,000	Between $42,000 And $120,000
Highest paying City	-	Springfield, MA
Highest paying state	-	Massachusetts
Best paying company	-	Northern Trust
Best paying industry	-	Insurance

Differences between money manager and finance planner education

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

	Money Manager	Finance Planner
Most common degree	Bachelor's Degree, 59%	Bachelor's Degree, 73%
Most common major	Business	Business
Most common college	University of Pennsylvania	University of Pennsylvania

Money manager vs finance planner demographics

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

	Money Manager	Finance Planner
Average age	46	45
Gender ratio	Male, 43.5% Female, 56.5%	Male, 62.0% Female, 38.0%
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, 5.7% Unknown, 4.4% Hispanic or Latino, 9.6% Asian, 8.4% White, 71.8% American Indian and Alaska Native, 0.1%
LGBT Percentage	11%	5%

Differences between money manager and finance planner 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 planner example responsibilities.

Manage financial planning, educate clients on fix indexed annuities, and consistently analyze financial markers and ever-changing client needs.
Manage and strengthen customer relationships through cross-selling and up-selling to maximize retention and income generation by contacting existing and prospective customers.
Represent a large brokerage firm for products and services through direct sales.
Educate clients in tax implications for products that include mutual funds, securities, and retirement plans.
Redesign the existing report from a value-base manual effort to a Hyperion driven report, vastly improving both efficiency and accuracy.
Gain additional responsibility as a season FSR.

Money manager vs finance planner 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 planner skills

Financial Aid, 21%
Financial Services, 9%
Client Facing, 8%
Retirement Planning, 7%
Estate Planning, 6%
Life Insurance, 6%