Personal Financial Advisors

What the job really is

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.

At a glance

• Sector: Business & Financial
• O*NET-SOC code: 13-2052
• O*NET job zone: 4 — considerable preparation
• Work sample tasks on file: 12
• Tools and technologies listed: 12

What you actually do

Work sample tasks recorded for this occupation:

• 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.
• Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
• Answer clients' questions about the purposes and details of financial plans and strategies.
• Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
• Manage client portfolios, keeping client plans up-to-date.
• Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
• Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
• Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
• Contact clients periodically to determine any changes in their financial status.
• Prepare or interpret for clients information, such as investment performance reports, financial document summaries, or income projections.
• Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
• Investigate available investment opportunities to determine compatibility with client financial plans.

Tools and technology

Microsoft Access, Microsoft Excel, Microsoft Office software, Microsoft Outlook, Microsoft PowerPoint, Microsoft Project, Microsoft SQL Server, Microsoft Visual Basic, Microsoft Word, Salesforce software, Structured query language SQL, Swift

What employers expect you to already be comfortable with.

Where this job leads

Related occupations — the usual moves up and sideways:

• Financial and Investment Analysts
• Credit Counselors
• Securities, Commodities, and Financial Services Sales Agents
• Investment Fund Managers
• Financial Risk Specialists
• Loan Officers
• Accountants and Auditors
• Financial Managers

Getting in

O*NET assigns this occupation job zone 4 (considerable preparation). The related occupations above are the realistic routes in and out.

Find openings

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Check this against the source

O*NET OnLine: Personal Financial Advisors — the authoritative public-domain profile this page is derived from, including the full task list, reported skills and the wage estimates for your region.

Derived and rewritten from the public-domain O*NET database (U.S. Department of Labor / Employment and Training Administration). Figures are observations, not promises — always confirm salary, licensing and visa requirements with the employer and the relevant authority.