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Personal Financial Advisors picture    Personal Financial Advisors image

Personal Financial Advisors

Personal financial advisors evaluate the financial needs of their clients and help them with investments, insurance decisions and tax laws. Financial advisors help people develop retirement plans, create strategies for paying educational expenses and they help them evaluate and select a variety of investments.

Personal financial planners assist their clients with the planning of short-term and long term objectives. Some financial advisors specialize in areas such as estate planning or retirement. Personal financial advisors sometimes seek advise from financial analysts, lawyers and accountants.

Some sample job titles include certified financial planner, finance consultant, financial advisor, financial agent, financial coordinator, financial consultant, fiscal specialist, investment consultant, investment counselor, personal banker, wealth manager, personal financial planner and investment advisor.

In general, personal financial advisors have to find their own clients. They typically spend a lot of time marketing their financial services. They often meet prospective clients through social networking and by giving seminars. Building a customer base is a vital part of the occupation.

Many personal financial advisors have a license to directly buy and sell financial products including stocks, bonds, insurance products, annuities and derivatives.

Private bankers or wealth managers are regarded as personal financial advisors that work for clients that have a large amount of money to invest. These clients resemble institutional investors. Private bankers manage their clients' portfolios utilizing the resources of a bank. They typically, directly manage their clients' finances.

Responsibilities

  • Set up consultations with clients
  • Develop a thorough financial plan for clients
  • Help clients select appropriate investments
  • Learn about clients finances and objectives
  • Update clients on potential investments
  • Build client base
  • Make adjustments to clients' financial plans
  • Answer clients' questions
  • Educate clients regarding risks and possible scenarios

Job Characteristics

Personal financial planners typically work in offices or in their homes. They sometimes meet with clients during the evenings and weekends in order to accommodate their clients' schedules. Personal financial planners also give seminars in order to meet potential clients. They should have strong analytical, math and interpersonal skills. They also need to have strong sales ability.

Employment Outlook

The employment growth of personal financial advisors is forecasted by the Bureau of Labor Statistics to grow by 30 percent during the 2008-18 timeframe which is much faster than the average for all occupations.

The median annual earnings for wage and salaried personal financial advisors in 2008 was $69,050. Those that work for financial services companies are often provided a salary and bonuses. Advisors that work for planning or financial investment companies and those that are self-employed usually earn money by collecting a percentage of their client's assets that they manage.

Some financial advisors earn money by charging hourly fees or from fees they collect on stock and insurance purchases. Financial advisors often receive commissions on financial products they sell in addition to charging a fee.

Baby boomers should increase the demand for personal financial advisors. Many companies are using retirement savings programs instead of traditional pension plans, thus there is an increase in the amount of people that are managing their retirement savings programs. These individuals may increase the need for financial advisors.

Many individuals enter the occupation by working for banks and full-service brokerages. A college degree and certification can enhance credibility.

Education, Certification, and Licensing

Personal financial advisors typically hold a bachelor's or a master's degree. They often earn a degree in finance, accounting, business, law, economics or mathematics. Beneficial courses include investments, risk management, estate planning and taxes. Some colleges and universities provide financial planning education programs.

Personal financial advisers that directly buy or sell stocks, bonds, insurance policies or specific investment advice must have a combination of licenses which varies based on the types of products they sell.

Certifications are not always necessary, however certification is recommended by many employers. The Certified Financial Planner Board of Standards offers the Certified Financial Planner credential. The credential requires three years of relevant experience, completing education requirements that includes a bachelor's degree, passing an examination and following a code of ethics.

Resources

Major Employers

Schools for Personal Financial Advisors are listed in the Browse Schools Section.

Metro Areas Sorted by Total Employment for:
Personal Financial Advisors

Listed below are metro areas sorted by the total number of people employed in Personal Financial Advisors jobs , as of 2016

2016 Occupational Employment Statistics and 2014-24 Employment Projections, Bureau of Labor Statistics, BLS.gov; 2014-24 State Occupational Projections, Projections Central, projectionscentral.com

     
Metro Area (Alabama) Total Employment Annual Median Salary
Birmingham 1100 $81,210
Hoover 1100 $81,210
Mobile 240 $120,960
Huntsville 180 $77,230
Montgomery 180 $167,120
Fairhope 100 $81,040
Daphne 100 $81,040
Foley 100 $81,040
Dothan 60 $88,760
Florence 40 $82,380
Muscle Shoals 40 $82,380
     
Metro Area (Alaska) Total Employment Annual Median Salary
Anchorage 100 $69,240
     
Metro Area (Arizona) Total Employment Annual Median Salary
Phoenix 3320 $79,220
Scottsdale 3320 $79,220
Mesa 3320 $79,220
Tucson 370 $52,030
Prescott 60 $42,820
     
Metro Area (Arkansas) Total Employment Annual Median Salary
Conway 470 $63,060
North Little Rock 470 $63,060
Little Rock 470 $63,060
Hot Springs N/A $89,220
     
Metro Area (California) Total Employment Annual Median Salary
Long Beach 10180 $96,770
Los Angeles 10180 $96,770
Anaheim 10180 $96,770
Hayward 6640 $131,870
Oakland 6640 $131,870
San Francisco 6640 $131,870
San Diego 1820 $103,640
Carlsbad 1820 $103,640
San Jose 1240 $107,690
Sunnyvale 1240 $107,690
Santa Clara 1240 $107,690
Riverside 730 $86,160
Ontario 730 $86,160
San Bernardino 730 $86,160
Ventura 650 $59,500
Oxnard 650 $59,500
Thousand Oaks 650 $59,500
Santa Rosa 270 $68,490
Fresno 230 $126,020
San Luis Obispo 130 $51,980
Paso Robles 130 $51,980
Arroyo Grande 130 $51,980
Bakersfield 120 N/A
Salinas 100 $94,500
Modesto 80 $62,320
Watsonville 80 $78,760
Santa Cruz 80 $78,760
Napa 60 $176,770
Fairfield 50 N/A
Vallejo 50 N/A
Lodi 50 $98,570
Stockton 50 $98,570
Santa Barbara N/A $96,470
Santa Maria N/A $96,470
Arden N/A $100,690
Sacramento N/A $100,690
Roseville N/A $100,690
Arcade N/A $100,690
     
Metro Area (Colorado) Total Employment Annual Median Salary
Lakewood 2610 $88,550
Denver 2610 $88,550
Aurora 2610 $88,550
Colorado Springs 520 $79,210
Fort Collins 150 $64,440
Grand Junction 70 $64,530
Boulder N/A $75,820
Pueblo N/A $115,220
     
Metro Area (Connecticut) Total Employment Annual Median Salary
Norwalk 2560 $114,280
Bridgeport 2560 $114,280
Stamford 2560 $114,280
East Hartford 990 $95,570
West Hartford 990 $95,570
Hartford 990 $95,570
New Haven 440 $81,440
Danbury 150 $101,060
     
Metro Area (Florida) Total Employment Annual Median Salary
Miami 4300 $103,860
Fort Lauderdale 4300 $103,860
West Palm Beach 4300 $103,860
St. Petersburg 2180 $78,980
Clearwater 2180 $78,980
Tampa 2180 $78,980
Jacksonville 1110 $107,530
Orlando 1100 $103,280
Kissimmee 1100 $103,280
Sanford 1100 $103,280
Immokalee 410 $120,000
Marco Island 410 $120,000
Naples 410 $120,000
Sarasota 400 $95,460
North Port 400 $95,460
Bradenton 400 $95,460
Winter Haven 180 $108,350
Lakeland 180 $108,350
Fort Myers 180 $118,730
Cape Coral 180 $118,730
Tallahassee 170 $53,510
Port St. Lucie 160 $137,870
Daytona Beach 150 $80,340
Deltona 150 $80,340
Ormond Beach 150 $80,340
Titusville 150 $115,020
Palm Bay 150 $115,020
Melbourne 150 $115,020
Ferry Pass 110 $91,650
Brent 110 $91,650
Pensacola 110 $91,650
Vero Beach 100 $86,640
Sebastian 100 $86,640
Destin 70 $80,280
Fort Walton Beach 70 $80,280
Crestview 70 $80,280
Panama City 70 $116,640
Punta Gorda 60 $81,120
Gainesville 60 $128,040
The Villages 50 $142,630
Ocala N/A $143,120
     
Metro Area (Georgia) Total Employment Annual Median Salary
Sandy Springs 4430 $94,580
Atlanta 4430 $94,580
Roswell 4430 $94,580
Savannah 110 $112,730
Macon 90 $59,850
Albany 60 $89,750
Athens 50 $130,060
Clarke County 50 $130,060
Gainesville 40 $82,750
     
Metro Area (Hawaii) Total Employment Annual Median Salary
Urban Honolulu 430 $74,390
     
Metro Area (Idaho) Total Employment Annual Median Salary
Boise City 470 $66,780
Idaho Falls 70 $68,070
Coeur d'Alene 60 N/A
     
Metro Area (Illinois) Total Employment Annual Median Salary
Rockford 240 $54,620
Springfield 160 $78,830
Peoria 130 $61,580
Bloomington 70 N/A
Urbana 70 $57,150
Champaign 70 $57,150
     
Metro Area (Indiana) Total Employment Annual Median Salary
Fort Wayne 430 $76,290
Terre Haute 100 N/A
Bloomington 80 $71,980
Elkhart 60 N/A
Goshen 60 N/A
Lafayette 60 $65,810
West Lafayette 60 $65,810
Muncie 40 N/A
Columbus 40 $56,050
Kokomo 40 $72,660
Indianapolis N/A $83,040
Anderson N/A $83,040
Carmel N/A $83,040
     
Metro Area (Iowa) Total Employment Annual Median Salary
Des Moines 950 $61,050
West Des Moines 950 $61,050
Cedar Rapids 90 $39,910
Dubuque 90 $71,160
Iowa City 80 $102,350
Cedar Falls 60 N/A
Waterloo 60 N/A
     
Metro Area (Kansas) Total Employment Annual Median Salary
Wichita 300 $71,690
Topeka 110 $77,600
Manhattan 60 $55,850
Lawrence 40 $104,890
     
Metro Area (Kentucky) Total Employment Annual Median Salary
Fayette 200 $75,220
Lexington 200 $75,220
Bowling Green 60 $39,860
Owensboro 30 $89,060
     
Metro Area (Louisiana) Total Employment Annual Median Salary
New Orleans 490 $88,520
Metairie 490 $88,520
Baton Rouge 200 $79,280
Lafayette 170 $67,400
Houma 100 $82,680
Thibodaux 100 $82,680
Bossier City 90 $63,610
Shreveport 90 $63,610
Lake Charles 70 N/A
Monroe 60 $71,660
     
Metro Area (Maine) Total Employment Annual Median Salary
South Portland 300 $134,750
Portland 300 $134,750
Bangor 30 $79,860
     
Metro Area (Maryland) Total Employment Annual Median Salary
Towson 2880 $79,560
Columbia 2880 $79,560
Baltimore 2880 $79,560
     
Metro Area (Massachusetts) Total Employment Annual Median Salary
Barnstable Town 100 $108,620
     
Metro Area (Michigan) Total Employment Annual Median Salary
Dearborn 2430 $80,290
Warren 2430 $80,290
Detroit 2430 $80,290
Grand Rapids 620 $59,450
Wyoming 620 $59,450
Flint 260 $57,490
Ann Arbor 210 $74,440
Kalamazoo 210 $86,000
Portage 210 $86,000
East Lansing 180 $51,930
Lansing 180 $51,930
Saginaw 90 $63,070
Niles 50 $59,290
Benton Harbor 50 $59,290
Jackson 50 $66,790
Battle Creek 40 N/A
Monroe 30 $71,730
     
Metro Area (Minnesota) Total Employment Annual Median Salary
St. Cloud 160 $79,610
Rochester 70 $82,030
Mankato 60 $48,040
North Mankato 60 $48,040
     
Metro Area (Mississippi) Total Employment Annual Median Salary
Jackson 470 $77,940
Pascagoula 90 $53,510
Biloxi 90 $53,510
Gulfport 90 $53,510
Hattiesburg 40 N/A
     
Metro Area (Missouri) Total Employment Annual Median Salary
Springfield 220 $102,400
Columbia 90 $48,420
     
Metro Area (Montana) Total Employment Annual Median Salary
Billings 110 $93,770
Missoula 70 $85,550
Great Falls N/A $106,900
     
Metro Area (Nebraska) Total Employment Annual Median Salary
Lincoln 180 $79,050
Grand Island 50 $63,830
     
Metro Area (Nevada) Total Employment Annual Median Salary
Paradise 480 $97,470
Henderson 480 $97,470
Las Vegas 480 $97,470
Reno 200 $123,900
     
Metro Area (New Hampshire) Total Employment Annual Median Salary
Manchester 110 $95,900
     
Metro Area (New Jersey) Total Employment Annual Median Salary
Trenton 350 $114,470
Hammonton 80 $113,580
Atlantic City 80 $113,580
     
Metro Area (New Mexico) Total Employment Annual Median Salary
Albuquerque 280 $95,830
Santa Fe 130 N/A
Las Cruces 60 $44,890
     
Metro Area (New York) Total Employment Annual Median Salary
Niagara Falls 740 $113,330
Cheektowaga 740 $113,330
Buffalo 740 $113,330
Rochester 570 $136,590
Syracuse 450 $49,240
Binghamton 100 $59,060
Rome 90 N/A
Utica 90 N/A
Elmira 50 N/A
Glens Falls 50 $103,550
Kingston 40 $56,230
Fort Drum N/A $37,010
Watertown N/A $37,010
Troy N/A $85,810
Albany N/A $85,810
Schenectady N/A $85,810
     
Metro Area (North Carolina) Total Employment Annual Median Salary
Raleigh 860 $82,060
Greensboro 460 $59,610
High Point 460 $59,610
Durham 320 $103,210
Chapel Hill 320 $103,210
Salem 230 $110,590
Winston 230 $110,590
Asheville 200 $132,610
Wilmington 180 $68,650
Greenville 80 $62,260
Fayetteville 60 $77,180
     
Metro Area (North Dakota) Total Employment Annual Median Salary
Bismarck 80 $92,510
     
Metro Area (Ohio) Total Employment Annual Median Salary
Cleveland 1590 $79,970
Elyria 1590 $79,970
Columbus 1130 $82,640
Dayton 390 $65,090
Akron 290 $94,960
Toledo 190 $128,360
Springfield N/A $77,420
Massillon N/A $90,840
Canton N/A $90,840
     
Metro Area (Oklahoma) Total Employment Annual Median Salary
Oklahoma City 710 $63,210
Tulsa 370 $59,350
     
Metro Area (Oregon) Total Employment Annual Median Salary
Eugene 100 $59,360
Redmond 100 $73,060
Bend 100 $73,060
Medford 70 $57,480
Salem 40 $112,740
     
Metro Area (Pennsylvania) Total Employment Annual Median Salary
Pittsburgh 1850 $91,500
Carlisle 280 $74,530
Harrisburg 280 $74,530
Lancaster 260 $89,150
Wilkes 250 N/A
Barre 250 N/A
Hazleton 250 N/A
Scranton 250 N/A
Hanover 180 $52,690
York 180 $52,690
State College 150 $59,060
Reading 110 $61,770
Erie 90 $60,090
Johnstown 60 $101,220
Altoona 50 $73,910
Williamsport N/A $73,120
     
Metro Area (Puerto Rico) Total Employment Annual Median Salary
Caguas 210 $36,460
Carolina 210 $36,460
San Juan 210 $36,460
     
Metro Area (South Carolina) Total Employment Annual Median Salary
Mauldin 410 $93,390
Greenville 410 $93,390
Anderson 410 $93,390
Columbia 390 $58,920
North Charleston 390 $64,700
Charleston 390 $64,700
Beaufort 100 $69,630
Hilton Head Island 100 $69,630
Bluffton 100 $69,630
Spartanburg 80 $51,780
     
Metro Area (South Dakota) Total Employment Annual Median Salary
Sioux Falls 120 $69,560
Rapid City 70 $73,520
     
Metro Area (Tennessee) Total Employment Annual Median Salary
Franklin 880 $82,880
Murfreesboro 880 $82,880
Davidson 880 $82,880
Nashville 880 $82,880
Knoxville 390 $57,980
Johnson City 50 N/A
     
Metro Area (Texas) Total Employment Annual Median Salary
Dallas 4650 $96,420
Fort Worth 4650 $96,420
Arlington 4650 $96,420
The Woodlands 3550 $80,950
Sugar Land 3550 $80,950
Houston 3550 $80,950
New Braunfels 1450 $82,930
San Antonio 1450 $82,930
Round Rock 1130 $85,720
Austin 1130 $85,720
El Paso 150 $50,770
Lubbock 130 $59,560
Midland 120 $97,170
Edinburg 100 N/A
McAllen 100 N/A
Mission 100 N/A
Corpus Christi 70 $104,300
Victoria 60 N/A
Beaumont 60 $89,870
Port Arthur 60 $89,870
Bryan 60 $147,730
College Station 60 $147,730
Tyler 50 $67,380
Wichita Falls 50 $75,760
Abilene 40 $89,370
Amarillo N/A $75,310
Longview N/A $105,440
     
Metro Area (Utah) Total Employment Annual Median Salary
Salt Lake City 1510 $66,750
Orem 170 $64,500
Provo 170 $64,500
Clearfield 90 $66,800
Ogden 90 $66,800
     
Metro Area (Vermont) Total Employment Annual Median Salary
South Burlington 230 $53,060
Burlington 230 $53,060
     
Metro Area (Virginia) Total Employment Annual Median Salary
Richmond 1010 $110,350
Charlottesville 220 $157,370
Roanoke 170 $60,020
Lynchburg 120 $120,030
Harrisonburg 90 $70,790
     
Metro Area (Washington) Total Employment Annual Median Salary
Tacoma 2870 $79,320
Seattle 2870 $79,320
Bellevue 2870 $79,320
Spokane 450 $93,840
Spokane Valley 450 $93,840
Tumwater 100 $66,890
Olympia 100 $66,890
Bellingham 80 $76,960
Bremerton 60 N/A
Silverdale 60 N/A
Kennewick 50 $74,040
Richland 50 $74,040
     
Metro Area (West Virginia) Total Employment Annual Median Salary
Charleston 100 $59,890
Parkersburg 80 N/A
Vienna 80 N/A
Morgantown 40 $48,060
     
Metro Area (Wisconsin) Total Employment Annual Median Salary
West Allis 2360 $81,360
Waukesha 2360 $81,360
Milwaukee 2360 $81,360
Madison 540 $72,510
Green Bay 280 $65,630
Appleton 250 $88,340
Neenah 70 N/A
Oshkosh 70 N/A
Wausau 70 N/A
Sheboygan 70 $98,840
Janesville 50 $37,710
Beloit 50 $37,710
Racine 50 $110,720
Eau Claire 30 $101,860
     
Metro Area (Wyoming) Total Employment Annual Median Salary
Cheyenne 50 N/A

Career Stories (Job Profiles) for Personal Financial Advisors

To find out more about building a career as Personal Financial Advisors, we spoke with professionals in the field across a variety of specialties. Learn about their experiences on the job, the steps they took to complete their education, and what it takes to excel in this industry. Click the link to see a story.

All Types

Most Popular Industries for :
Personal Financial Advisors

Industries representing at least 1% of total jobs for the occupation.

2016 Occupational Employment Statistics and 2014-24 Employment Projections, Bureau of Labor Statistics, BLS.gov; 2014-24 State Occupational Projections, Projections Central, projectionscentral.com

Industry Jobs Percent Annual Median Salary
Securities And Investment 89,270 61% $78,360
Banking And Credit 31,050 21% $61,130
Professional And Technical Services 6,900 4% $64,420
Insurance 6,770 4% $63,360
Pension And Trusts 4,060 2% $53,730
Business Management 3,250 2% $62,810
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Programs
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Programs
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What They’re Known For

Founded in 1946 and located in the heart of central New York, Utica College is a regionally accredited, independent, private institution that features many of the advantages of a large university — such as undergraduate and graduate degree options, excellent academics, and outstanding faculty — with the intimacy and high degree of personal attention more closely associated with smaller private institutions.


Programs
  • Business Management & Accounting (AAS)
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  • Offers several scholarship opportunities for students who qualify.
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Our family of non-profit colleges admits students of any race, color, and national or ethnic origin.

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Programs
  • Accountancy with a concentration in General Accounting
  • Allows students to transfer credits from non-U.S. colleges and universities after evaluation.
  • Has students attend one class at a time to ensure easy access to faculty and a more hands-on education.
  • Its main campus is located in Fort Lauderdale, with campuses located throughout the State of Florida and internationally. 
  • Provides a Department of Student Services and Resources that assists students with résumé preparation, interviewing skills coaching, mock interviewing, professional development workshops, and more.

We have some additional detailed pages at the state level for Personal Financial Advisors.

Numbers in parentheses are counts of relevant campus-based schools in the state; online schools may also be available.

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