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The differences between tax advisors and finance planners can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance planner has an average salary of $71,607, which is higher than the $58,252 average annual salary of a tax advisor.
The top three skills for a tax advisor include local tax returns, reconciliations and customer service. The most important skills for a finance planner are financial aid, financial services, and client facing.
| Tax Advisor | Finance Planner | |
| Yearly salary | $58,252 | $71,607 |
| Hourly rate | $28.01 | $34.43 |
| Growth rate | - | 15% |
| Number of jobs | 76,710 | 91,557 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 73% |
| Average age | 47 | 45 |
| Years of experience | - | 4 |
Tax Advisors are responsible for providing tax advice to clients in the area of tax legislation and tax obligations. Their duties include researching tax legislation, gathering client information, submitting tax returns, liaising with internal revenue service representing clients, and developing tax strategies. They are responsible for performing tax computations, forming family trusts, undertaking estate planning as well as consulting on matters regarding domicile and tax residence. Tax Advisors also give advice related to indirect taxation and prepare reports.
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.
Tax advisors and finance planners have different pay scales, as shown below.
| Tax Advisor | Finance Planner | |
| Average salary | $58,252 | $71,607 |
| Salary range | Between $29,000 And $116,000 | Between $42,000 And $120,000 |
| Highest paying City | Cumberland, RI | Springfield, MA |
| Highest paying state | New Hampshire | Massachusetts |
| Best paying company | DLA Piper | Northern Trust |
| Best paying industry | Energy | Insurance |
There are a few differences between a tax advisor and a finance planner in terms of educational background:
| Tax Advisor | Finance Planner | |
| Most common degree | Bachelor's Degree, 54% | Bachelor's Degree, 73% |
| Most common major | Accounting | Business |
| Most common college | University of Southern California | University of Pennsylvania |
Here are the differences between tax advisors' and finance planners' demographics:
| Tax Advisor | Finance Planner | |
| Average age | 47 | 45 |
| Gender ratio | Male, 36.6% Female, 63.4% | Male, 62.0% Female, 38.0% |
| Race ratio | Black or African American, 9.7% Unknown, 4.0% Hispanic or Latino, 17.6% Asian, 10.1% White, 58.0% American Indian and Alaska Native, 0.6% | 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 | 8% | 5% |