Match
$89k $89k
Avg US Salary
249k 249k
Employment
29.6% 29.6%
Growth
3.1/5 3.1/5
Rating
Bachelors Bachelors
Education

What is a Financial Advisor?

Also known as: Financial Counselor, Financial Planner, Certified Financial Planner, Investment Advisor, Financial Consultant.

A financial advisor is someone who gives financial advice to their clients. In determining an investment portfolio for a client, they must be able to take into account a range of information, including economic trends, regulatory changes, and the client’s comfort with risky decisions. A major part of a financial advisor’s job is making clients feel comfortable. They must establish trust with clients and respond well to their questions and concerns.

How to Become a Financial Advisor

Interested in becoming a financial advisor? Here are your next steps.

  1. Take the Sokanu Career Test

    Would you make a good financial advisor? Sokanu's free assessment reveals how compatible you are with a career across 5 dimensions!

    Take the free career test
  2. Get the Education

    • Delaware Technical Community College-Terry | Dover, DE
      Offers: Associates
    • Delaware Technical Community College-Stanton/Wilmington | Wilmington, DE
      Offers: Certificate, Associates
    • Delaware State University | Dover, DE
      Offers: Bachelors
    • University of Delaware | Newark, DE
      Offers: Bachelors
    • Goldey-Beacom College | Wilmington, DE
      Offers: Certificate, Associates, Bachelors
  3. Get Hired

      Loading jobs...

    View all jobs →

    Would you like to post jobs on this career? Find the best candidates using Sokanu's new psychometric job platform. Visit employers.sokanu.com today.

What does a Financial Advisor do?

Financial advisors assess the financial needs of individuals and help them with investments (such as stocks and bonds), tax laws, and insurance decisions. They help clients plan for short-term and long-term goals, such as education expenses and retirement. They recommend investments to match the clients' goals. They invest clients' money based on the clients' decisions. Many also provide tax advice or sell insurance.

Personal financial advisors typically do the following:

  • Meet with clients in person to discuss their financial goals
  • Explain the types of financial services they provide
  • Educate clients and answer questions about investment options and potential risks
  • Recommend investments to clients or select investments on their behalf
  • Help clients plan for specific circumstances, such as education expenses or retirement
  • Monitor clients' accounts and determine if changes are needed to improve account performance or accommodate life changes, such as getting married or having children
  • Research investment opportunities

Although most financial advisors offer advice on a wide range of topics, some specialize in areas such as retirement or risk management (evaluating how willing the investor is to take chances, and adjusting investments accordingly). After they have invested funds for a client, they, as well as the client, get regular reports of the investments. They monitor the client's investments and usually meet with each client at least once a year to update him/her on potential investments and to adjust the financial plan because of the client's changed circumstances or because investment options have changed.

Many spend a great deal of time marketing their services, and they meet potential clients by giving seminars or through business and social networking. Many financial advisors are licensed to directly buy and sell financial products, such as stocks, bonds, annuities, and insurance. Depending on the agreement they have with their clients, advisors may have the clients' permission to make decisions about buying and selling stocks and bonds.

Private bankers or wealth managers are personal financial advisors who work for people who have a lot of money to invest. These clients are similar to institutional investors (commonly companies or organizations), and they approach investing differently from the general public. Private bankers manage a collection of investments, called a portfolio, for these clients by using the resources of the bank, including teams of financial analysts, accountants, and other professionals.

Find your perfect career

Would you make a good financial advisor? Sokanu's free assessment reveals how compatible you are with a career across 5 dimensions!

Take the free career test

What is the workplace of a Financial Advisor like?

Financial advisors typically work in offices, and approximately one-fourth of financial advisors are self-employed. Many also travel to attend conferences or teach finance classes in the evening to bring in more clients. Most advisors work full time, and 24% work more than 50 hours per week. They often go to meetings in the evenings and on weekends to meet with existing clients or to try to bring in new ones.

Videos

Jobs

Location
Title Company Location Info

Further Reading

  • What’s Life Like As A Financial Advisor? Depends On Your Pain Tolerance www.financialsamurai.com

    Ben from Wealth Gospel shares his experience going through training as a junior financial advisor. I can’t help but wonder by the end of the article whether the key to any successful career is to just survive through the initial hardship.

  • The 10 Habits Of A Good Financial Advisor www.fool.com

    That's a lot of fiscal power in the hands of a precious few, which makes choosing an advisor -- presuming you need one -- one of the most important decisions you can make.

  • A Day In The Life Of A Financial Planner www.financialplanet.org

    I discovered that being a financial planner has as much to do with understanding peoples’ hopes, dreams, fears and aspirations as it does money.

  • How To Become A Financial Advisor www.forbes.com

    Financial advisor can be a great profession for someone who wants to head down a new career path. Why? Because it’s a job where having some life experience under your belt really helps.

  • The Starting Salary Of A Certified Financial Planner work.chron.com

    A certified financial planner, or CFP, has completed specific education requirements and been certified by the Certified Financial Planner Board of Standards. To be a CFP, you must have an advanced degree, such as a law degree, a doctorate in business administration or a Ph.D. in economics or business, or have other advanced certification, such as a certified public accountant or a chartered life underwriter.

  • Financial Advisor Careers financecareers.about.com

    How to Become a Financial Advisor

  • Financial Advisor money.usnews.com

    Financial advisors do what many people don’t like doing for themselves: figuring out how to manage their money.

Similar Careers

Collections With This Career

Careers for Extroverts
Outgoing and extroverted jobs best suit people who aren’t afraid to put themselves forward, speak up and stand out from the crowd. Read More
Jobs for people who like Management of Financial Resources
Discover careers that are good for people who like Management of Financial Resources. Read More
Jobs for people who are interested in Finance
Discover careers for people who are interested in Finance. Read More
Jobs for people who are interested in Professional Advising
Discover careers for people who are interested in Professional Advising. Read More
Careers for Finance majors
The most common careers people pursue after attaining a Finance degree. Read More
Careers for International Relations majors
The most common careers people pursue after attaining a International Relations degree. Read More
Jobs for people who need Relationships
Discover careers for people who need Relationships. Read More

×

How to Become a Financial Advisor

Interested in becoming a financial advisor? Here are your next steps.

  1. Take the Sokanu Career Test

    Would you make a good financial advisor? Sokanu's free assessment reveals how compatible you are with a career across 5 dimensions!

    Take the free career test
  2. Get the Education

    • Delaware Technical Community College-Terry | Dover, DE
      Offers: Associates
    • Delaware Technical Community College-Stanton/Wilmington | Wilmington, DE
      Offers: Certificate, Associates
    • Delaware State University | Dover, DE
      Offers: Bachelors
    • University of Delaware | Newark, DE
      Offers: Bachelors
    • Goldey-Beacom College | Wilmington, DE
      Offers: Certificate, Associates, Bachelors
  3. Get Hired

      Loading jobs...

    View all jobs →

    Would you like to post jobs on this career? Find the best candidates using Sokanu's new psychometric job platform. Visit employers.sokanu.com today.