Personal financial advisors 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.

 

 

  • 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.
  • 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.
  • Contact clients periodically to determine any changes in their financial status.
  • Investigate available investment opportunities to determine compatibility with client financial plans.
  • Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
  • Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
  • Prepare or interpret for clients information, such as investment performance reports, financial document summaries, or income projections.
  • Monitor financial market trends to ensure that client plans are responsive.
  • Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
  • Recruit and maintain client bases.
  • 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.
  • Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.
  • 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.
Work Context
  • Electronic Mail — 96% responded "Every day".
  • Telephone — 83% responded "Every day".
  • Indoors, Environmentally Controlled — 92% responded "Every day".
  • Spend Time Sitting — 61% responded "Continually or almost continually".
  • Face-to-Face Discussions — 60% responded "Every day".
  • Frequency of Decision Making — 61% responded "Every day".
  • Structured versus Unstructured Work — 48% responded "Some freedom".
  • Read More
Work Activities
  • Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
  • Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
  • Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
  • Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
  • Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
  • Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Read More
Detailed Work Activities
  • Assess financial status of clients.
  • Correspond with customers to answer questions or resolve complaints.
  • Interview clients to gather financial information.
  • Implement financial decisions.
  • Prepare financial documents, reports, or budgets.
  • Interpret financial information for others.
  • Read More

Knowledge

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.
Read More

Skills

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.
Speaking
  • Talking to others to convey information effectively.
Read More

Abilities

Oral Comprehension
  • The ability to listen to and understand information and ideas presented through spoken words and sentences.
Speech Clarity
  • The ability to speak clearly so others can understand you.
Written Expression
  • The ability to communicate information and ideas in writing so others will understand.
Oral Expression
  • The ability to communicate information and ideas in speaking so others will understand.
Read More

Personality

People interested in this work like activities that include ideas, thinking, and figuring things out.
They do well at jobs that need:
  • Achievement/Effort
  • Persistence
  • Initiative
  • Leadership
  • Cooperation
  • Concern for Others
  • Social Orientation
  • Self Control
Read More

Technology

You might use software like this on the job:

Data base user interface and query software
  • Microsoft Access Hot Technology
  • Structured query language SQL Hot Technology
  • Microsoft SQL Server Hot Technology
  • Practice management software PMS
  • FileMaker Pro
Customer relationship management CRM software
  • Salesforce software Hot Technology
  • Web Information Solutions Pocket Informant
  • ProTracker Advantage
  • Redtail Technology Our Business Online
  • Microsoft Business Contact Manager
  • ACT! ACT4Advisors
  • DataViz Beyond Contacts
  • eMoneyAdvisor AdvisorPlatform
  • EZ-Data Client Data System
  • CRM Software Junxure-i
  • CRM Software Junxure
  • Investigo
  • Getting Things Done GTD software
  • Financial Planning Consultants Practice Builder
Enterprise resource planning ERP software
  • Oracle Hyperion Hot Technology
  • Oracle PeopleSoft Financials Hot Technology
  • Microsoft Dynamics Hot Technology
Read More