Top Skills for This Career
BLS identifies these as the three highest-rated skills for this detailed occupation. TrustInEd adds the plain-language explanations so visitors understand what each skill means.
Understanding written information and communicating ideas clearly in writing.
Identifying problems, considering possible solutions, and choosing appropriate actions.
Adjusting effectively when priorities, conditions, tools, or expectations change.
How Do You Prepare for This Career?
BLS describes the typical preparation for this occupation. Requirements can vary by employer, state, licensing rules and individual circumstances.
How to Become One
How to Become a Personal Financial Advisor Personal financial advisors must establish trust with clients and respond to their questions and concerns. Personal financial advisors typically need a bachelor’s degree to enter the occupation. A master’s degree and certification may improve chances for advancement.
Education
Personal financial advisors typically need a bachelor’s degree, although employers usually do not require a specific course of study. However, common fields of degree include business, social science, or mathematics. Courses in investments, taxes, estate planning, and risk management may be helpful.
Training
After they are hired, personal financial advisors typically need on-the-job training to attain competency. During this time, new advisors work under the supervision of senior advisors and learn how to build a client network, develop investment portfolios, and perform other duties. This training usually lasts for more than a year.
Licenses, Certifications & Registrations
Personal financial advisors who directly buy or sell stocks, bonds, or insurance policies, or who provide specific investment advice, may need a combination of licenses that varies with the products they sell. In addition to being required to have those licenses, advisors in small firms that manage clients’ investments must be registered with state regulators, and those in large firms must be registered with the U.S. Securities and Exchange Commission (SEC). Information on state licensing board requirements is available from CareerOneStop. Certifications may enhance a personal financial advisor’s reputation and help bring in new clients. Information on certifications is available from CareerOneStop. Advancement A master’s degree in a field such as finance or business administration may improve a personal financial advisor’s chances of becoming a financial manager and of attracting new clients.
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Pay
the median annual wage for all workers was $50,980.
Job Outlook
Job Outlook Employment of personal financial advisors is projected to show little or no change from 2025 to 2035. Despite limited employment growth, about 17,100 openings for personal financial advisors are projected each year, on average, over the decade. Most of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire. Employment Personal financial advisors are expected to be needed to help clients make informed financial decisions throughout all stages of life. As large numbers of baby boomers continue to retire, they are likely to seek planning advice from personal financial advisors. At the same time, many younger clients may seek financial planning services as their incomes grow or they inherit assets from aging parents. The availability of artificial intelligence (AI) tools for financial advice may moderate demand for personal financial advisors. However, many consumers are expected to continue to rely on human advisors for more complex and specialized investment advice. Personal Financial Advisors Percent change in employment, projected 2025–35 Financial specialists 4% Total, all occupations 3% Personal financial advisors 1% Note: All Occupations includes all occupations in the U.S. Economy.
What They Do
What Personal Financial Advisors Do
Personal financial advisors provide advice on investments, insurance, mortgages, estate planning, taxes, and retirement to help individuals manage their finances.
Duties
Personal financial advisors typically do the following:
- Meet with clients to discuss their financial goals
- Explain to potential clients the types of financial services they provide
- Educate clients and answer questions about investment options and potential risks
- Recommend investments to clients or select investments on their behalf
- Help clients plan for specific circumstances, such as education or retirement
- Monitor clients’ accounts and determine if changes are needed to improve financial performance or to accommodate life changes, such as getting married or having children
- Research investment opportunities
Personal financial advisors assess the financial needs of individuals and help them with decisions on investments (such as stocks and bonds), tax laws, and insurance. Advisors help clients plan for short- and long-term goals, such as budgeting for education expenses and saving for retirement through investments. They invest clients’ money based on the clients’ decisions. Many advisors also provide tax advice or sell insurance.
Although most planners offer advice on a wide range of topics, some specialize in areas such as retirement or risk management (evaluating the investor's willingness to take chances and adjusting investments accordingly).
Many personal financial advisors spend a lot of time marketing their services, and they meet potential clients by giving seminars or participating in business and social networking.
After financial advisors have invested funds for a client, they and the client receive regular investment reports. Advisors monitor the client’s investments and usually meet with each client at least once a year to update the client on potential investments and to adjust the financial plan based on the client’s circumstances or because investment options may have changed.
Many personal financial advisors are licensed to directly buy and sell financial products, such as stocks, bonds, annuities, and insurance. Depending on the agreement they have with their clients, personal financial advisors may have the client’s permission to make decisions about buying and selling stocks and bonds.
Work Environment
Work Environment
Personal financial advisors held about 299,400 jobs in 2025. The largest employers of personal financial advisors were as follows:
| Securities, commodity contracts, and other financial investments and related activities | 65% |
| Credit intermediation and related activities | 16 |
| Insurance carriers and related activities | 3 |
| Professional, scientific, and technical services | 3 |
Personal financial advisors typically work in offices. Some also travel to attend conferences, teach finance seminars in the evening, and attend networking events to bring in more clients.
Work Schedules
Most personal financial advisors work full time and some work more than 40 hours per week. They also may go to meetings on evenings and weekends to meet with prospective or existing clients.
Important Qualities
The following are examples of qualities that are important for these workers to perform their duties. For more information, visit the Employment Projections (EP) skills data page. Analytical skills. In determining an investment portfolio for a client, personal financial advisors must be able to assess a range of information, including economic trends, regulatory changes, and the client’s comfort with risky decisions. Interpersonal skills. A major part of a personal financial advisor’s job is making clients feel comfortable. Advisors must establish trust with clients and respond well to their questions and concerns. Math skills. Personal financial advisors must be adept at working with numbers to determine the amount invested, how that amount has grown or decreased over time, and how a portfolio is distributed among different investments. Sales skills. To expand their base of clients, personal financial advisors must be convincing and persistent in selling their services. Speaking skills. Personal financial advisors interact with clients every day. They must explain complex financial concepts in a way that clients understand.
More Information
More Information, Including Links to O*NET
Learn more about personal financial advisors by visiting additional resources, including O*NET, a source on key characteristics of workers and occupations.
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Start with ED →Career data and occupational profile text are sourced from the U.S. Bureau of Labor Statistics Occupational Outlook Handbook and Employment Projections program. Education requirements are typical entry-level requirements and may vary by employer, state, occupation or individual circumstance. View the official BLS profile.