Jobs Description of Personal Financial Advisor

Jobs Description of Personal Financial Advisor
A Personal Financial Advisor - Advises 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.

A person in Personal Financial Advisor career:

  • Interviews clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
  • Answers clients' questions about the purposes and details of financial plans and strategies.
  • Recommends to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
  • Analyzes financial information obtained from clients to determine strategies for meeting clients' financial objectives.
  • Implements financial planning recommendations or refers clients to someone who can assist them with plan implementation.
  • Reviews clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
  • Manages client portfolios, keeping client plans up-to-date.
  • Contacts clients periodically to determine any changes in their financial status.
  • Prepares or interprets for clients information such as investment performance reports, financial document summaries, or income projections.
  • Recruits and maintains client bases.

Specialty and Similar Personal Financial Advisor Careers

Personal Financial Advisor Careers are more detailed or close to this career:
  • Account Executive
    Employed by an organization such as a bank, public relations firm, or advertising agency who is responsible for the business of a specific client.
  • Asset Manager
    Oversees assets that are owned, leased and subleased by an organization, working to increase revenue and asset values.
  • Insurance Consultant 
    Uses statistics to determine clients' future financial risks and helps them select the best insurance options for their situations.
  • Portfolio Manager
    Ultimately responsible for the performance and the day to day operation of a fund or asset management vehicle.
  • Investments Manager
  • Securities Consultant

Basic Skills for A Personal Financial Advisor

The following skills are important for this career:

  • Reading comprehension – medium (Level 5)
  • Active listening – medium (Level 5)
  • Writing – medium (Level 4)
  • Speaking – medium (Level 5)
  • Mathematics – medium (Level 3)
  • Critical thinking – medium (Level 5)
  • Active learning – medium (Level 3)
  • Monitoring – medium (Level 3)

These skills are necessary but not as important:

  • Science – very low (Level 0)
  • Learning strategies – low (Level 2)
Transferable Skills

  • Here's a list of skills used in this career that are also used in other careers.
  • High level of skill required
  • Examining and evaluating financial records
  • Giving advice on financial matters
  • Planning and administering budgets
  • Preparing and organizing numerical records
  • Preparing financial reports
  • Processing data on computers

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