• Academics

Personal Financial Advisor

13-2052.00

Median wages

$75,760

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.
  • 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.
  • Answer clients' questions about the purposes and details of financial plans and strategies.
  • Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
  • Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
  • Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
  • Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment. Green Task Statement
  • Manage client portfolios, keeping client plans up-to-date.
  • 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.
  • Recruit and maintain client bases.
  • Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
  • Investigate available investment opportunities to determine compatibility with client financial plans.
  • Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
  • Monitor financial market trends to ensure that client plans are responsive.
  • Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
  • Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
  • Devise debt liquidation plans that include payoff priorities and timelines.
  • Open accounts for clients and disburse funds from accounts to creditors as agent for clients.
  • Accounting software — Fund accounting software Hot technology ; Sage 50 Accounting Hot technology
  • Analytical or scientific software — Monte Carlo simulation software
  • Calendar and scheduling software — Pimlico Software DateBk
  • Communications server software — IBM Domino Hot technology
  • Compliance software — ComplianceMAX
  • Customer relationship management CRM software — Microsoft Business Contact Manager; Redtail Technology Our Business Online; Salesforce software Hot technology ; Web Information Solutions Pocket Informant
  • Data base user interface and query software — Microsoft Access Hot technology ; Practice management software PMS; Structured query language SQL Hot technology
  • Document management software — Cabinet NG CNG-SAFE; ScanSoft PaperPort Pro; SunGard LockBox; World Software Corporation Worldox
  • Enterprise resource planning ERP software Hot technology — Microsoft Dynamics Hot technology ; Oracle Hyperion Hot technology ; Oracle PeopleSoft Financials Hot technology
  • Financial analysis software — Finance Logix Retirement Planner; Ibbotson Portfolio Strategist; Oracle E-Business Suite Financials Hot technology ; WealthTec Foundations
  • Internet browser software — Web browser software
  • Office suite software — Microsoft Office
  • Presentation software — Financial planning presentation software; Microsoft PowerPoint Hot technology ; MoneyTree Silver Financial Planner (presentation feature)
  • Spreadsheet software — Corel QuattroPro; IBM Lotus 1-2-3; Microsoft Excel Hot technology
  • Word processing software — Automatic Data Processing ProxyEdge; Financial report generation software; Microsoft Word

Hot technology Hot Technology — a technology requirement frequently included in employer job postings.

  • Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
  • Speaking — Talking to others to convey information effectively.
  • Service Orientation — Actively looking for ways to help people.
  • Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Writing — Communicating effectively in writing as appropriate for the needs of the audience.
  • Persuasion — Persuading others to change their minds or behavior.
  • Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
  • Mathematics — Using mathematics to solve problems.
  • Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Management of Financial Resources — Determining how money will be spent to get the work done, and accounting for these expenditures.
  • Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Systems Evaluation — Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
  • Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Time Management — Managing one's own time and the time of others.
  • Coordination — Adjusting actions in relation to others' actions.
  • Instructing — Teaching others how to do something.
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