Business & Finance
Personal Financial Advisors
Also called: Certified Financial Planner (CFP), Financial Advisor, Financial Consultant, Financial Counselor
US median pay
$105,070
per year, 2025
Job growth 2025–35
+1.4%
about average or slower
Openings a year (US)
17,100
299,400 employed
Typical entry education
Bachelor's degree
Preparation 4/5 · Considerable preparation
What this job 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.
What they do day to day
- 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.
Skills and knowledge that matter most
Skills
- Social Perceptiveness3.6/5
- Service Orientation3.6/5
- Judgment and Decision Making3.6/5
- Complex Problem Solving3.6/5
- Systems Evaluation3.4/5
- Systems Analysis3.4/5
- Persuasion3.4/5
- Time Management3.0/5
Knowledge
- Customer and Personal Service4.4/5
- Economics and Accounting4.1/5
- English Language3.9/5
- Mathematics3.7/5
- Psychology3.1/5
- Sales and Marketing2.9/5
Importance rated by people working in the job (1 = not important, 5 = extremely important).
Education and preparation
Preparation level 4 of 5 — Considerable preparation. Usually a bachelor's degree and several years of related experience.
Typical entry education (BLS): Bachelor's degree.
Highest education of people in this job:
- Bachelor's degree58%
- Post-baccalaureate certificate23%
- Master's degree12%
Who this job suits
Mostly Enterprising
Leading, persuading and starting things
Conventional
Organising data, details and procedures
Social
Helping, teaching and caring for people
Based on the Holland (RIASEC) interest profile for this occupation.