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Personal Financial Advisors

  • Finance

Tasks

What tasks do Personal Financial Advisors perform?

  • 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.

  • Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.

  • Manage client portfolios, keeping client plans up-to-date.

  • Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.


Knowledge

What do Personal Financial Advisors need to know?

  • Customer and Personal Service

    Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.

  • Economics and Accounting

    Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data.

  • English Language

    Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.


Skills

What skills do Personal Financial Advisors need?

  • Reading Comprehension

    Understanding written sentences and paragraphs in work-related documents.

  • Active Listening

    Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.

  • Writing

    Communicating effectively in writing as appropriate for the needs of the audience.



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Data on career profiles are based on information supplied by the O*NET Program, sponsored by U.S. Department of Labor, Employment, and Training Administration.