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Personal Financial Advisors

Help people reach their financial goals.

Personal financial advisors help their clients develop healthy money management goals to save and invest their funds efficiently. They provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances.  These market savvy professionals spend a great deal of time marketing their services and networking with potential clients. Some financial advisors provide advice to individuals for a one-time fee. Others work exclusively with "high net worth" individuals who have a lot of money to invest that is in turn managed for a recurring fee.  Similiar to the work financial advisors do for large companies, private bankers have a portfolio of investments, often held with a brokerage firm and actively follow market trends to fine-tune their investment strategies. 


The outlook for personal financial advisors is strong, with an expected 35 percent increase in jobs by 2024.

Job outlook for personal financial advisors is amazing, with an expected 34.8% increase in jobs by 2024


Over time, Personal Financial Advisors can command high salaries as they acquire more clients and manage larger amounts of money.

Personal Financial Advisors have a lot to look forward to in terms of salary, skyrocketing to almost three times the regional average after a few years of experience.


Is this career right for you?*

These skills, interests, and knowledge areas are recommended for a career as a personal financial advisor. The numbers below describe the relative important of each knowledge/skill area to the occupation.

             87.2%

Customer Service

Meeting the expected quality of customer satisfaction when interacting with customer and potential customers.

               86.4%

Economics & Accounting

Practicing the principles of economics and accounting practices, trends in the financial markets, and reporting financial data in reference to practical costs.

               80%

Problem Sensitivity, Reasoning, and Comprehension 

The ability to evaluate a potential or occurring problem to find its source, causation, and potential solution.

*Source: Texas Career Check


Pathway to Becoming a Personal Financial Advisor

Endorsement: Business & Industry

The minimum requirement to become a personal financial advisor is a bachelor's degree in a related field. It's good to have taken courses in business, accounting, investment, risk management, law, or any related courses or pursuing a master's degree in finance or business administration can also be attractive to employers as well as clients. When starting out, training begins immediately and continues for over a year, following the supervision of senior advisors.

Personal financial advisors who specialize in certain sales like insurance must have licenses, granted by the Texas board, but those who directly buy and sell stocks must be registered with the Securities and Exchange Commission. A Certified Financial Planner (CPF) certification exam is available for those who have worked in financial advising for at least 3 years to improve the possibilities of advancement.


Useful Tech for a Head Start

  • Accounting Software: Fund accounting software, Sage 50 Accounting
  • Enterprise Resource Planning (ERP) Software: Microsoft Dynamics, Oracle Hyperion, Oracle PeopleSoft Financials
  • Microsoft Office Suite: Microsoft Word, Microsoft PowerPoint, Microsoft Excel

Programs in the Gulf Coast Region

Universities:

Major Employers:

Related Occupations: Insurance Sales Agents, Securities, Commodities, and Financial Services Sales Agent, Financial Managers

 

If you have questions about our Industry/Occupation Profiles or are an organization in the Gulf Coast Region, please contact webmaster@wrksolutions.com.

*Includes the following counties: Austin, Brazoria, Chambers, Colorado, Fort Bend, Galveston, Harris, Liberty, Matagorda, Montgomery, Walker, Waller, and Wharton.

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