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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.   (O'Net 13-2052.00)

 
Reported job titles:   Account Executive, Analyst, Asset Analyst, Asset Manager, Budget Counselor, Certified Financial Planner (CFP)   (view all job titles)
 
  • Career Video
  • Wages
  • Employment Trends
  • Industries of Employment
  • Tasks
  • Knowledge
  • Skills
  • Abilities
  • Work Activities
  • Interests
  • Work Styles
  • License Information
  • Education & Training Requirements
  • Schools
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    Wages
    for Personal Financial Advisors
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     Location Pay
    Period
    2016
    Percentile Wages Average
    Wage
    10% 25% 50%
    Median
    75% 90%
     Vermont Hourly $ 18.43   $ 21.64   $ 26.45   $ 41.60   $ 51.75   $ 34.39  
    Yearly $38,330   $45,020   $55,020   $86,530   $107,640   $71,530  
     
     Burlington-South Burlington, VT Metropolitan NECTA Hourly $ 18.95   $ 21.50   $ 25.51   $ 38.69   $ 48.59   $ 32.33  
    Yearly $39,420   $44,720   $53,060   $80,470   $101,060   $67,240  
     
     Southern Vermont Balance of State Hourly $ 18.82   $ 22.75   $ 29.41   $ 46.79   $ 59.58   $ 36.98  
    Yearly $39,150   $47,330   $61,170   $97,330   $123,930   $76,910  
     
    What are Percentile Wages?
    source: Occupational Employment Statistics, Vermont Labor Market Information, U.S. Bureau of Labor Statistics, released April 2017.
     


    Employment Trends
    for Personal Financial Advisors
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    Location Employment Annual % change
    (compounded)
    Annual job openings
    (due to growth and
    net replacements)
    2014 2024
    Vermont 481 566 1.6% 20
    source: Employment Projections, Vermont Economic & Labor Market Information, in cooperation with U.S. Bureau of Labor Statistics, statewide estimates released July 2016.
     


    Industries of Employment
    for Personal Financial Advisors
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    Industry Percent of Total
    2014
    Securities, commodity contracts, and other financial investments and related activities 51.8%
    Self-employed workers, all industries 20.2%
    Credit intermediation and related activities 16.3%
    Insurance carriers and related activities 4.5%
    Management of companies and enterprises 2.7%
    source: Employment Projections, U.S. Bureau of Labor Statistics, National Employment Matrix, released July 2016.
     


    Tasks
    for Personal Financial Advisors
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  • 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.
     
    source: Occupational Information Network: Personal Financial Advisors  updated July 2012
     


    Knowledge
    for Personal Financial Advisors
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  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
     
  • 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.
     
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
     
  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
     
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
     
  • Communications and Media - Knowledge of media production, communication, and dissemination techniques and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
     
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
     
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
     
    source: Occupational Information Network: Personal Financial Advisors  updated July 2012
     


    Skills
    for Personal Financial Advisors
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  • 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.
     
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
     
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
     
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
     
  • Speaking - Talking to others to convey information effectively.
     
  • Service Orientation - Actively looking for ways to help people.
     
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
     
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
     
  • Persuasion - Persuading others to change their minds or behavior.
     
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
     
    source: Occupational Information Network: Personal Financial Advisors  updated July 2012
     


    Abilities
    for Personal Financial Advisors
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  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
     
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
     
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
     
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
     
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
     
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
     
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
     
  • Speech Clarity - The ability to speak clearly so others can understand you.
     
  • Speech Recognition - The ability to identify and understand the speech of another person.
     
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
     
    source: Occupational Information Network: Personal Financial Advisors  updated July 2012
     


    Work Activities
    for Personal Financial Advisors
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  • Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
     
  • 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.
     
  • Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
     
  • Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.
     
  • Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
     
  • Analyzing Data or Information - Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
     
  • Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
     
  • Developing Objectives and Strategies - Establishing long-range objectives and specifying the strategies and actions to achieve them.
     
  • Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
     
  • Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.
     
    source: Occupational Information Network: Personal Financial Advisors  updated July 2012
     


    Interests
    for Personal Financial Advisors
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  • 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.
     
    source: Occupational Information Network: Personal Financial Advisors  updated June 2008
     


    Work Styles
    for Personal Financial Advisors
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  • 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.
     
  • Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
     
  • Initiative - Job requires a willingness to take on responsibilities and challenges.
     
  • Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
     
  • Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
     
    source: Occupational Information Network: Personal Financial Advisors  updated July 2012
     


    State of Vermont License Information
    that may be required for Personal Financial Advisors
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    License Name Licensing Agency
    Investment Advisor Representative Vermont Department of Financial Regulation
    Securities Division
     
    source: Vermont Department of Labor, Licensed & Certified Occupations in Vermont, 2015.
     


    Education and Training Requirements
    for Personal Financial Advisors
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  • Job Zone Four: Considerable Preparation Needed
  •  
  • Education: Most of these occupations require a four-year bachelor's degree, but some do not.
  •  
  • Training: Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
  •  
  • Experience: 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.
  •  
    source: Occupational Information Network: Personal Financial Advisors  updated July 2012
     


    Schools
    offering instructional programs related to Personal Financial Advisors
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      Related Instructional Programs
     
    • Finance, General.
     
    • Financial Planning and Services.
     
     Search for schools offering these programs at
     
     
     
    source: National Center for Education Statistics 2000 Classification of Instructional Programs .
     


    Other Resources
    for Personal Financial Advisors
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  • Labor Exchange Information
  • A source for occupational characteristics, such as age, gender, race, and years of education and an alternative source for occupational wage rates. Limited to people looking for jobs and the jobs advertised through VDOL Vermont Job Link.
  • Look for statewide information over the latest 12 months for Personal Financial Advisors.
  •  
  • Occupational Outlook Handbook
  • The Occupational Outlook Handbook is a nationally recognized source of career information, designed to provide valuable assistance to individuals making decisions about their future work lives. Revised every two years, the Handbook describes what workers do on the job, working conditions, the training and education needed, earnings, and expected job prospects in a wide range of occupations.
    Go to Occupational Outlook Handbook
    Handbook occupations related to Personal Financial Advisors :
  • Personal Financial Advisors
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    Related Occupations
    Occupations with skill requirements similar to Personal Financial Advisors
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    source: Occupational Information Network: Personal Financial Advisors 
     

     
     
     
    Vermont.gov State of Vermont Department of Labor