Financial advisors give people financial advice and assist them in managing their money. They advise people on topics such as budgeting, managing debt, investments, taxes, insurance and retirement planning.
Most financial advisors are self-employed, but some work for large financial services firms. They usually work full time. Because their work is centered around meeting with clients, financial advisors frequently work in the evenings and sometimes on weekends. Being a financial advisor also sometimes requires traveling to clients' homes for meetings.
Financial advisors need a bachelor's degree or a master's degree. Professional certification is also available and is sometimes required to sell certain products, such as insurance. Depending on the state in which the financial advisor operates, state licensure may be required. Advanced degrees and professional certifications can improve chances for career advancement and salary increases. Beyond education, financial advisors must be able to earn and keep their client's trust.
In 2012, the median annual salary for a financial advisor was $67,520. The job availability for financial advisors is expected to increase 27 percent from 2012 to 2022. Financial advisors are expected to be in higher demand because of an aging population and increased life expectancy. This means that more people are retiring and in need of financial advice.