The weighty responsibility
of investing individuals’ savings
and helping them build a secure retirement…
takes both financial knowledge
and interpersonal skills.
Personal financial advisors
provide advice on investments,
home ownership, estate planning, and more…
to help people manage their finances
and plan for the future.
Personal financial advisors start by
determining a client’s financial needs
and how much risk they’re comfortable with,
then helping set short- and long-term goals.
Advisors are experts on the benefits
and limitations
of many different types of investments,
such as mutual funds, stocks and bonds,
real estate, and related issues
such as insurance
and the tax implications of different investments.
Marketing their services to potential clients
is an ongoing part of the job.
To build their client base,
personal financial advisors give seminars,
participate in networking events,
and seek referrals from current clients.
Typically, advisors meet annually with clients
to discuss their investment portfolio
and make adjustments.
Most personal financial advisors
work in the finance and insurance industry,
and many others are self-employed.
They usually work full time in offices,
and some may meet with clients
during evenings and weekends.
Personal financial advisors
typically need a bachelor’s degree;
majoring in finance, economics, accounting,
math, or law are all good preparation.
Finance is a highly regulated field:
specific licenses are required
to sell different investment
or insurance products.
Advisors may need to register
with state regulators
or the Securities and Exchange Commission.