Personal Financial Advisors

Description

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.

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.
  • 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.
  • Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
  • 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.
  • 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.
  • Recruit and maintain client bases.
  • 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.
  • Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
  • Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
  • Devise debt liquidation plans that include payoff priorities and timelines.
  • Open accounts for clients and disburse funds from accounts to creditors as agent for clients.
  • Inform clients about tax benefits, government rebates, or other financial benefits of alternative fuel vehicle purchases or energy efficient home construction, improvements, or remodeling.
  • Conduct seminars or workshops on financial planning topics, such as retirement planning, estate planning, or the evaluation of severance packages.
  • Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.

Knowledge

Fine Arts
Knowledge of the theory and techniques required to compose, produce, and perform works of music, dance, visual arts, drama, and sculpture.
Transportation
Knowledge of principles and methods for moving people or goods by air, rail, sea, or road, including the relative costs and benefits.
Medicine and Dentistry
Knowledge of the information and techniques needed to diagnose and treat human injuries, diseases, and deformities. This includes symptoms, treatment alternatives, drug properties and interactions, and preventive health-care measures.
Mechanical
Knowledge of machines and tools, including their designs, uses, repair, and maintenance.
Physics
Knowledge and prediction of physical principles, laws, their interrelationships, and applications to understanding fluid, material, and atmospheric dynamics, and mechanical, electrical, atomic and sub- atomic structures and processes.
Building and Construction
Knowledge of materials, methods, and the tools involved in the construction or repair of houses, buildings, or other structures such as highways and roads.
Food Production
Knowledge of techniques and equipment for planting, growing, and harvesting food products (both plant and animal) for consumption, including storage/handling techniques.
Chemistry
Knowledge of the chemical composition, structure, and properties of substances and of the chemical processes and transformations that they undergo. This includes uses of chemicals and their interactions, danger signs, production techniques, and disposal methods.
Biology
Knowledge of plant and animal organisms, their tissues, cells, functions, interdependencies, and interactions with each other and the environment.

Skills

Equipment Selection
Determining the kind of tools and equipment needed to do a job.
Installation
Installing equipment, machines, wiring, or programs to meet specifications.
Operation and Control
Controlling operations of equipment or systems.
Equipment Maintenance
Performing routine maintenance on equipment and determining when and what kind of maintenance is needed.
Troubleshooting
Determining causes of operating errors and deciding what to do about it.
Repairing
Repairing machines or systems using the needed tools.

Abilities

Trunk Strength
The ability to use your abdominal and lower back muscles to support part of the body repeatedly or continuously over time without 'giving out' or fatiguing.
Wrist-Finger Speed
The ability to make fast, simple, repeated movements of the fingers, hands, and wrists.
Speed of Limb Movement
The ability to quickly move the arms and legs.
Reaction Time
The ability to quickly respond (with the hand, finger, or foot) to a signal (sound, light, picture) when it appears.
Rate Control
The ability to time your movements or the movement of a piece of equipment in anticipation of changes in the speed and/or direction of a moving object or scene.
Response Orientation
The ability to choose quickly between two or more movements in response to two or more different signals (lights, sounds, pictures). It includes the speed with which the correct response is started with the hand, foot, or other body part.
Multilimb Coordination
The ability to coordinate two or more limbs (for example, two arms, two legs, or one leg and one arm) while sitting, standing, or lying down. It does not involve performing the activities while the whole body is in motion.
Control Precision
The ability to quickly and repeatedly adjust the controls of a machine or a vehicle to exact positions.
Manual Dexterity
The ability to quickly move your hand, your hand together with your arm, or your two hands to grasp, manipulate, or assemble objects.
Sound Localization
The ability to tell the direction from which a sound originated.

Work Activities

Repairing and Maintaining Electronic Equipment
Servicing, repairing, calibrating, regulating, fine-tuning, or testing machines, devices, and equipment that operate primarily on the basis of electrical or electronic (not mechanical) principles.
Performing General Physical Activities
Performing physical activities that require considerable use of your arms and legs and moving your whole body, such as climbing, lifting, balancing, walking, stooping, and handling of materials.
Drafting, Laying Out, and Specifying Technical Devices, Parts, and Equipment
Providing documentation, detailed instructions, drawings, or specifications to tell others about how devices, parts, equipment, or structures are to be fabricated, constructed, assembled, modified, maintained, or used.
Repairing and Maintaining Mechanical Equipment
Servicing, repairing, adjusting, and testing machines, devices, moving parts, and equipment that operate primarily on the basis of mechanical (not electronic) principles.

Interests

Enterprising
Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
Conventional
Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Social
Social occupations frequently involve working with, communicating with, and teaching people. These occupations often involve helping or providing service to others.
Investigative
Investigative occupations frequently involve working with ideas, and require an extensive amount of thinking. These occupations can involve searching for facts and figuring out problems mentally.
Artistic
Artistic occupations frequently involve working with forms, designs and patterns. They often require self-expression and the work can be done without following a clear set of rules.
Realistic
Realistic occupations frequently involve work activities that include practical, hands-on problems and solutions. They often deal with plants, animals, and real-world materials like wood, tools, and machinery. Many of the occupations require working outside, and do not involve a lot of paperwork or working closely with others.

Work Style

Integrity
Job requires being honest and ethical.
Dependability
Job requires being reliable, responsible, and dependable, and fulfilling obligations.
Attention to Detail
Job requires being careful about detail and thorough in completing work tasks.
Concern for Others
Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
Persistence
Job requires persistence in the face of obstacles.
Analytical Thinking
Job requires analyzing information and using logic to address work-related issues and problems.
Self Control
Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
Initiative
Job requires a willingness to take on responsibilities and challenges.
Achievement/Effort
Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
Stress Tolerance
Job requires accepting criticism and dealing calmly and effectively with high stress situations.

Work Values

Independence
Occupations that satisfy this work value allow employees to work on their own and make decisions. Corresponding needs are Creativity, Responsibility and Autonomy.
Achievement
Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Working Conditions
Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Recognition
Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
Relationships
Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Support
Occupations that satisfy this work value offer supportive management that stands behind employees. Corresponding needs are Company Policies, Supervision: Human Relations and Supervision: Technical.

Lay Titles

Account Executive
Analyst
Asset Analyst
Asset Manager
Budget Counselor
Certified Financial Planner (CFP)
Chartered Financial Analyst (CFA)
Credit Counselor
Debt Counselor
Estate Planner
Estate Planning Counselor
Finance Consultant
Financial Adviser
Financial Advisor
Financial Agent
Financial Consultant
Financial Coordinator
Financial Counselor
Financial Planner
Financial Retirement Plan Specialist
Fiscal Specialist
Insurance Adviser
Insurance Consultant
Investment Adviser
Investment Advisor
Investment Consultant
Investment Counselor
Investment Representative
Investments Manager
Money Manager
Pension Adviser
Pension Consultant
Personal Banker
Personal Financial Planner
Portfolio Manager
Registered Representative
Relationship Manager
Securities Consultant
Securities Counselor
Strategist
Trustee of Estate

National Wages and Employment Info

Median Wages (2008):
$32.46 hourly, $67,520 annual.
Employment (2008):
175,470 employees