Personal Financial Advisors

What Does a Personal Financial Advisors Do?

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.

Day-to-Day Responsibilities

• 1Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
• 2Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
• 3Answer clients' questions about the purposes and details of financial plans and strategies.
• 4Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
• 5Manage client portfolios, keeping client plans up-to-date.
• 6Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
• 7Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
• 8Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.

Required Skills

• Reading Comprehension
• Active Listening
• Speaking
• Writing
• Critical Thinking
• Mathematics
• ACT! ACT4Advisors
• Advent Axys
• AdviceAmerica AdvisorVision
• Advisory World ICE
• ASI Client Acquisition Solution
• Asset allocation software
• Automatic Data Processing ProxyEdge
• Brentmark Stock Option Risk Analyzer
• Cabinet NG CNG-SAFE
• Cheshire Financial Planning Suite

Personal Financial Advisors Salary