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
            Business Administration, BA - Finance
            • Has students attend one four-week class at a time and take their final exam before moving on to their next class.
            • Offers 24/7 online tech support, with a typical response time of 4 hours or less.
            • Has online help centers that offer assistance with writing, statistics, medical assisting, and more.
            • Provides job placement assistance to all its students and alumni.
            • Researches trends for growing fields to tailor a more effective curriculum.
            Show more [+]
            • Online Courses
            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
            Master of Science in Finance

            Georgetown University is a private, not-for-profit, accredited university located in Washington, DC. Founded in 1789 by John Carroll, Georgetown is America’s oldest Catholic and Jesuit University. Today, Georgetown is a major international research university. It has nine schools, an affiliated hospital and many highly-ranked graduate programs.

            • Online Courses
            Master of Science in Finance
            • A private Catholic & Jesuit institution delivering a transformative education
            • Scranton U has earned accreditation from 17 different accrediting agencies
            • Lovely 58 acre campus situated off Interstate 81 in PA’s Pocono Northeast region
            • 88% of  faculty hold doctoral or other terminal degrees in their fields
            • 2017-18 first-year students got $30 million + in financial aid & scholarships
            Show more [+]
            • Online Courses
            MBA - Finance/Accounting
            • UC is committed to liberal education integrated with professional study
            • Accredited by the MSCHE with a beautiful campus located in Utica, New York
            • 21 graduate programs, 38 undergraduate majors & study abroad opportunities
            • More than 5,000 undergraduate and graduate students (full- and part-time)
            • Offers financial aid options to students who qualify for tuition assistance
            Show more [+]
            • Online Courses
            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
            BA in Business Administration/Finance

            Discover the Difference a Community of Support Makes in Your Educational Journey. From Application to Graduation, the Support You Need to Achieve Your Goals. 100% Online.

            New England College was founded in 1946 to educate soldiers coming home from war. The same great support system that welcomed returning GIs is still a hallmark of NEC today. From enrollment services representatives who’ll guide you through the application process to interactive tools that help you collaborate with instructors and classmates, NEC inspires you to reach the milestones of your educational journey.

            • Online Courses
            • Flexible Scheduling
            • 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
            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/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