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For Educators: Military Resources

Personal Financial Advisors

Median Salary
99,580
Job Outlook
+7%
In-Demand

Overview

What are the responsibilities of this role?

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.

What sectors do they work in?

Private for profit

74%

Self-employed

21%

Private not for profit

4%

State and local government

1%

Federal Government

1%

What is the job outlook?

Employment of personal financial advisors is projected to grow 17 percent from 2023 to 2033, much faster than the average for all occupations. About 27,000 openings for personal financial advisors are projected each year, on average, over the decade. Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.

Compensation

What is the typical salary range?

$39,180

10%

$99,580

Median

$161,760

90%

How does location impact how much salary?

Education

What level of education do professionals in this role have?

Education Level

  • Bachelor's degree

    57%

  • Post baccalaureate

    23%

  • Master's degree

    11%

  • Post-secondary certificate

    7%

Which college majors best prepare you for this role?

  • Finance, General
  • Family Resource Management Studies, General
  • Financial Planning and Services

Skills and Interest

Which skill sets are the most valuable to possess?

Skills

  • Verbal Skills

    High

  • Leadership

    High

  • Math and Science Skills

    High

  • Technology Design and Control

    Mid

  • Equipment Operation and Maintenance

    Low

  • Critical Thinking and Problem Solving

    Mid

What knowledge should you bring to the table?

  • Customer and Personal Service
  • Mathematics
  • Economics and Accounting
  • English Language
  • Administration and Management

What challenges will you likely face in the workplace?

Workplace

  • Decision Making

    High

  • Level Of Competition

    High

  • Time Pressure

    Mid

  • Repetitiveness

    Mid

  • Exposure to Job Hazards

    Low

  • Responsibility

    Low

  • Physical Activity

    Low

What personality traits help people thrive in this role?

Enterprising

You love taking risks in business or personal projects — and have the leadership skills to back it up.

Conventional

You like structure, staying organized, and working with systems to get things done efficiently.

Social

You love connecting with people, helping others and making a difference in your community.

RIASEC represents six broad interest areas—Realistic, Investigative, Artistic, Social, Enterprising, and Conventional—helping individuals identify careers that match their skills and preferences.

Take the RIASEC Test

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Data supplied by Bureau of Labor Statistics, National Center of Education Statistics, Defense Manpower Data Center (View our update schedule). Contact any business, college or military service branch to answer additional questions.