How to become a 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.

Steps to get there

Most employers expect most of these occupations require a four-year bachelor's degree, but some do not..A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.

What personal financial advisors do

• 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.

Skills that matter most

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

Is personal financial advisor a good career?

On the numbers, this job pays above the typical job. Median pay is 106% above the all-occupation median. Whether it fits you depends on the work itself, the schooling you are willing to do and where you want to live.

Where it pays most

• New York $166,400
• New Jersey $158,570
• California $130,330
• South Dakota $128,720
• Oregon $122,830

Personal Financial Advisors salary by state and city

Sources: O*NET® 31.0 (CC BY 4.0, USDOL/ETA) and BLS Employment Projections 2025–35. Pay: BLS OEWS May 2025.