Personal Financial Advisors: Salary, Job Description, How To Become One, and Quiz

Stan T.Career, OverviewLeave a Comment

Job description

Personal Financial Advisors 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.
Read more about what does a Personal Financial Advisor really do at work and what is it like being and working as one.

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Average salary
$121770 per year

Average hourly wage
$59 per hour

Personal Financial Advisors with little to no experience tend to make between $41590 and $57290 while the more experienced ones can earn over $157710 per year.

Top 5 paying states Hourly Annual
NY $79 $164,260
DC $76 $158,460
WY $65 $135,340
ME $65 $135,170
NC $65 $134,860

One of the easiest ways to increase your salary as a Personal Financial Advisor is to move to a higher paying state like NY. Right now, the highest paying states for Personal Financial Advisors are NY, DC, WY, ME and NC.

However, a higher pay at NY doesn’t guarantee that you will make more because the living expenses at NY might be twice as high than where you are currently at now.

Three other factors that can increase your salary as a Personal Financial Advisor is the degree you hold, the industry you work in, and lastly the company you work for.


Recommended degree level
Bachelor’s degree

We asked other Personal Financial Advisors what degree they had when they got the job and most of them said they had a Bachelor’s Degree followed by a Post-Baccalaureate Certificate.

Other than that, we also asked them what did they major in and here are the most popular majors that came up.

Finance, General
Financial Planning and Services
Read more about how to become a Personal Financial Advisor and the degree, training and education you need.

Pros and Cons

Here are some of the pros and cons of being a Personal Financial Advisor.

Suitable for people who likes to start and carry out projects
Suitable for people who wants independence and likes to work on their own and make decisions
This career is perfect for people who love to work indoors.
One of the highest paid careers in the world
Not suitable for people who likes practical and hands-on work
It is hard to get into this career. A considerable amount of work-related skill, knowledge, or experience is required for this career.
Long working hours (More than 40 hours per week)

What is the job like

Job satisfaction

Is this job meaningful

77% of Personal Financial Advisors said they were satisfied with their job and 58% said they feel like their job is making other people’s lives better.

Marguerita Cheng, CFP, RICP
Blue Ocean Global Wealth

Is this right for me

Best personality for this career
The Entrepreneurs and The Organizers

You can read more about these career personality types here.

People who are suitable for this job tends to like starting up and carrying out projects. They like leading people and making many decisions. Sometimes they require risk taking and often deal with business..

They also like following set procedures and routines. They like working with data and details more than with ideas.

Learn more about Personal Financial Advisors

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Related career information

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Account Executive, Analyst, Asset Analyst, Asset Manager, Budget Counselor, Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Credit Counselor, Debt Counselor, Estate Planner

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