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Personal Financial Advisors

Also called: Certified Financial Planner (CFP), Financial Advisor, Financial Planner, Portfolio Manager

What they do:
Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives.
On the job, you would:
  • Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
  • Answer clients' questions about the purposes and details of financial plans and strategies.
  • Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.

Knowledge

Business
  • customer service
  • accounting and economics
Arts and Humanities
  • English language
Math and Science
  • arithmetic, algebra, geometry, calculus, or statistics
  • psychology
Engineering and Technology
  • computers and electronics

Skills

Basic Skills
  • listening to others, not interrupting, and asking good questions
  • reading work related information
Problem Solving
  • noticing a problem and figuring out the best way to solve it
People and Technology Systems
  • thinking about the pros and cons of different options and picking the best one
  • figuring out how a system should work and how changes in the future will affect it

Abilities

Verbal
  • communicate by speaking
  • listen and understand what people say
Ideas and Logic
  • make general rules or come up with answers from lots of detailed information
  • use rules to solve problems
Math
  • add, subtract, multiply, or divide
  • choose the right type of math to solve a problem

Personality

People interested in this work like activities that include leading, making decisions, and business.
They do well at jobs that need:
  • Integrity
  • Dependability
  • Attention to Detail
  • Concern for Others
  • Persistence
  • Analytical Thinking

Technology

You might use software like this on the job:

Financial analysis software
  • Finance Logix Retirement Planner
  • Ibbotson Portfolio Strategist
Customer relationship management CRM software
  • ACT! ACT4Advisors
  • Microsoft Business Contact Manager
Document management software
  • Financeware Finance File Manager
  • SunGard LockBox

Education

Education: (rated 4 of 5)
bachelor's degree or
certificate after college
usually needed

Get started on your career:

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Job Outlook

Bright Outlook
New job opportunities are very likely in the future.
Salary
$75,320
per year, on average
Green
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See more details at O*NET OnLine about personal financial advisors.