Personal Financial Advisor

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.

O*NET reports this occupation under titles such as: Certified Financial Planner (CFP); Financial Advisor; Financial Consultant; Financial Counselor; Financial Life Planner; Financial Planner; Investment Advisor; Portfolio Manager; Wealth Advisor; Wealth Manager

Tasks

• 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.
• 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.
• Recruit and maintain client bases.

Knowledge

• Customer and Personal Service
• Economics and Accounting
• English Language
• Mathematics
• Psychology

Skills

• Reading Comprehension
• Active Listening
• Speaking
• Writing
• Critical Thinking
• Mathematics
• Active Learning
• Monitoring
• Learning Strategies

Abilities

• Oral Comprehension
• Written Comprehension
• Oral Expression
• Speech Clarity
• Inductive Reasoning
• Written Expression
• Deductive Reasoning
• Number Facility
• Near Vision
• Problem Sensitivity
• Mathematical Reasoning
• Speech Recognition
• Information Ordering
• Fluency of Ideas
• Originality
• Category Flexibility