USA-Career-Guide- Personal Financial Advisors

Education needed to be  Personal Financial Advisors

A degree in finance, economics, accounting, business, mathematics, or law is good preparation for this occupation. Courses in investments, taxes, estate planning, and risk management are also helpful. Programs in financial planning are becoming more available in colleges and universities. Programs in financial planning are becoming available in colleges and universities.


Personal financial advisors who directly buy or sell stocks, bonds, insurance policies, or specific investment advice need a combination of licenses that varies based upon the products they sell.


The Certified Financial Planner Board of Standards offers the Certified Financial Planner (CFP). For this certification, advisors must have a bachelor's degree, at least 3 years of relevant work experience, pass an exam, and agree to adhere to a code of ethics.

Pay of Personal Financial Advisors

The median annual wage of personal financial advisors was $64,750 in May 2010. The lowest 10 percent earned less than $32,660, and the top 10 percent earned more than $166,400.Personal financial advisors who work for financial services firms are often paid a salary plus bonuses.

Job Prospects of Personal Financial Advisors

Employment of personal financial advisors is projected to grow 32 percent from 2010 to 2020, much faster than the average for all occupations.

The primary driver of growth will be the aging population. Personal financial advisors are expected to face competition as the combination of relatively high wages and few formal educational requirements attracts many applicants for each opening.

Industrial Overview of Personal Financial Advisors

Personal financial advisors held about 206,800 jobs in 2010.

 Industry wise Employment of Personal Financial Advisors(2010)

Other financial investment activities 26%
Monetary authorities, credit intermediation, and related activities 19%
Securities and commodity contracts intermediation and brokerage 19%
Insurance carriers and related activities 3%
Professional, scientific, and technical services 3%
Source: Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2012-13 Edition

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