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Career Exploration

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. May also buy and sell financial assets for clients.

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.
  • Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
  • Manage client portfolios, keeping client plans up-to-date.
On the job, you'll need:

Business

  • customer service
  • accounting and economics

Arts and Humanities

  • English language

Math and Science

  • arithmetic, algebra, geometry, calculus, or statistics
  • psychology

Safety and Government

  • law and government

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

Verbal

  • communicate by speaking
  • communicate by writing

Math

  • add, subtract, multiply, or divide
  • choose the right type of math to solve a problem

Ideas and Logic

  • make general rules or come up with answers from lots of detailed information
  • use rules to solve problems

Enterprising

People interested in this work like activities that include leading, making decisions, and business.

  • Integrity
  • Dependability
  • Attention to Detail
  • Analytical Thinking
  • Concern for Others
  • Achievement/Effort

Customer relationship management CRM software

  • Microsoft Business Contact Manager
  • Salesforce software

Presentation software

  • Financial planning presentation software
  • Microsoft PowerPoint

Financial analysis software

  • Oracle E-Business Suite Financials
  • WealthTec Foundations

Video courtesy of CareerOneStop.

Job Outlook

The job outlook for this position is Bright.

New job opportunities are very likely in the future. This career will grow rapidly in the next few years.

Median Annual Salary: $95,390

Education

Bachelor's degree or certificate after college is usually needed.