dcsimg

Personal Financial Advisor

Personal financial advisors, also known as financial planners or financial consultants, advise clients of their financial options in order to help them reach their short-term and long-term financial goals. They use their knowledge of investments, tax laws, and insurance to address issues such as retirement and estate planning, funding for college, and general investment options. Some may specialize in risk management or retirement and estate planning, but most offer a wide range of expertise. The advisor begins by reviewing the client's financial information and goals. Then they develop a written or verbal financial plan that includes problem areas, recommendations for improvements, and investment recommendations. They usually meet with their clients at least once a year to check in about any factors that might affect their financial goals. Some personal financial advisors buy and sell mutual funds or insurance as part of their practice, and some manage their clients' investments for them.

Job Skills

Those job candidates seeking positions as personal financial advisors need to have excellent mathematical, computer, analytical, and problem-solving skills. Because their jobs require them to constantly explain complex financial concepts and strategies to clients and professionals, they must have highly-developed verbal and written communication skills. Other desirable qualities include self-confidence, maturity, and self-motivation.

Income

In 2002, financial analysts earned a median annual salary of $56,680. The middle 50% earned between $36,180 and $100,540. The following shows the median annual salaries for the industries employing the highest numbers of personal financial advisors:

  • Other financial investment activities - $74,260
  • Securities and commodity intermediation/brokerage - 68,110
  • Depository credit intermediation - 51,030

Training and Education

A college education is strongly recommended for those wishing to become personal financial advisors. Most employers prefer a bachelor's degree in accounting, finance, economics, business, mathematics, or law. Helpful courses of study include investments, taxes, estate planning, and risk management. Many personal financial advisors enter the occupation through a related field, such as accountant, auditor, insurance sales agent, lawyer, or securities, commodities, and financial services sales agent. However, more colleges and universities are starting to offer programs designed specifically for careers in personal financial advising. Personal financial advisors may obtain professional designation by earning the Certified Financial Planner credential, known as CFP (R), issued by the Certified Financial Planner Board of Standards, Inc. Applicants must pass educational requirements and a comprehensive examination. Personal financial advisors may advance to managerial positions, or by acquiring more clients and managing more assets.

Employment

In 2002, personal financial advisors held about 119,000 jobs. 38% were self-employed. 31% were employed by securities and commodity brokers, exchanges, and investment services firms. 14% were employed by banks, savings institutions, and credit unions. A small percentage worked for insurance carriers and insurance agents, brokers, and services.

Job Outlook

Between 2002 and 2012, the number of personal financial advisors is expected to increase faster than the average. This will be due to an increase in the need for investment advice among baby boomers saving for retirement and among a better educated and wealthier public. People are also living longer in general, and so must plan more comprehensively and carefully for retirement. In addition, the globalization of the securities markets and the deregulation of the financial services industry will increase demand for investment counseling.


Personal Financial Advisor Training

Refine School Matches
Hide filters
  • SUBJECT Clear All

  • DEGREE

    See More

  • PROGRAM TYPE

  • START TIME

    LOCATION
    Please enter valid US or Canada Zip.
            Results open in new window

            Searching Searching ...

            Matching School Ads
            MHA: Finance
            • Liberty University’s online programs ranked in the top 10 out of more than 2,100 colleges & universities for academic quality, affordability, and accessibility.*
            • 100% online programs at associate, bachelor’s, master’s, and doctoral level.**
            • Transfer up to 90 credits into an undergraduate degree program.
            • Up to 50% of your master’s degree can be transferred in to help you get the most out of your hard work and maximize the credit you previously earned.
            Show more [+]
            • Accredited
            • Online Courses
            • Financial Aid
            • Transferable Credits
            Business Administration - Finance (BS) (Online)
            • Designated as a 2015 Military Friendly® School by Victory Media, publishers of G.I. Jobs®.
            • Each program is designed to instill the knowledge, ethical values, and interpersonal skills of professional practice and to foster values of social responsibility.
            • Offers several flexible learning options, including a blended format that combines campus and online learning.
            • Several scholarship opportunities are available for students who qualify.
            • Features a competency-based MBA program that allows students to test out of subjects based on prior professional experience.
            Show more [+]
            • Online Courses
            • Flexible Scheduling
            • Financial Aid
            • Transferable Credits
            MBA - Finance/Accounting

            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.


            • Online Courses
            B.S. in Finance / Corporate Finance
            • Ranked among the Best Online Bachelor’s Programs by U.S. News and World Report in 2015.
            • Founded in 1890, it has a campus in Waterbury, CT and offers online degree program in eight-week modules, six times a year.
            • About 800 students are enrolled at the main campus, and about half of them commute.
            • Online courses help make it possible for students to earn a bachelor’s degree in as little as 24 months and a master’s degree in 12-18 months.
            Show more [+]
            • Online Courses
            • Flexible Scheduling
            • Accelerated Programs
            • Financial Aid
            • Transferable Credits
            MBA - Master of Business Administration - Finance
            • Go Higher with a career-enhancing degree from Concordia Nebraska you can earn fully online. All our online programs are designed to give you the flexibility to study around your schedule. 
            • You'll also benefit from exceptional student support and a rigorous academic experience ranked in the top tier of U.S. News & World Report's Best Colleges 2016 Midwest Regional Universities.
            • Concordia offers a wide variety of MBA program offerings in such fields as Accounting, Business Intelligence, Human Resources, Leadership and Managing, Management, Marketing and Risk Management.
            • Concordia also offers programs in the M.Ed field specializing in Early Childhood Development, Curriculum and Instruction, Educational Administration, and Special Education.
            • As an institution, Concordia University, Nebraska is accredited by The Higher Learning Commission and is a member of its North Central Association.
            • Concordia University, Nebraska is an excellent academic and Christ-centered community equipping men and women for lives of learning, service and leadership in the church and world.
            Show more [+]
            • Online Courses
            MS in Finance - H

            Johns Hopkins University Carey Business School has brought the philosophy of business with humanity in mind to a part time format. Now offering several degrees to the part-time student, students can now become business leaders at this nationally recognized institution in as little as 2.5 years.

            • Online Courses
            Financial Management - PhD in Bus. Admin.
            • Ranked among the Best Online Bachelor's Programs in 2014 by U.S. News & World Report.
            • Implements a one-to-one teaching model, partnering one student with one faculty member in each course.
            • 100% of faculty members hold doctoral degrees.
            • No physical residency requirements, allowing students to pursue their degree online.
            • Committed to innovation, diversity, excellence, and accountability since its founding in 1996.
            • Offers several programs in business, education, psychology, and more.
            Show more [+]
            • Online Courses
            • Financial Aid
            • Transferable Credits
            BA Sports and Recreation Management - Finance

            Become the leader you know you can be. The Forbes School of Business & TechnologyÒat Ashford University combines the power and flexibility of online learning with high-quality, topical Forbes content so you learn business fundamentals as well as keep current on business trends, triumphs, and tragedies.

            • Online Courses
            BA/Finance
            • Provides an exclusive Ashford Mobile app to keep students connected to the online classroom on the go.
            • Offers a business program in partnership and collaboration with Forbes magazine.
            • Offers several credit transfer and previous experience options for students who qualify.
            • Dedicated to fostering intellectual and personal growth since 1918.
            • Offers associate’s, bachelor’s, and master’s degree programs in business, health, education, and more.
            Show more [+]
            • Online Courses
            • Financial Aid
            • Transferable Credits
            Master of Public Administration
            • Listed as one of the top National Universities for 2015 by U.S. News and World Report.
            • Named to the President's Higher Education Community Service Honor Roll by the Corporation for National and Community Service for the seventh straight year in 2013.
            • Has a 97% satisfaction rate among its 2013 graduates. 
            • Offers more than 100 degree options including programs in education, law, nursing, and more.
            • Provides classes at its San Francisco campus, branch campuses throughout the bay area and Sacramento, and online.
            Show more [+]
            • Accredited
            • Online Courses
            • Flexible Scheduling
            • Financial Aid
            • Transferable Credits