Personal Financial Advisor Career

Job Description: 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.


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Personal Financial Advisor Career

What Personal Financial Advisors do:

  • 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.
  • Contact clients periodically to determine any changes in their financial status.
  • Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
  • Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
  • 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.
  • Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
  • Prepare or interpret for clients information such as investment performance reports, financial document summaries, or income projections.
  • Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
  • Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
  • Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
  • Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
  • Investigate available investment opportunities to determine compatibility with client financial plans.
  • Monitor financial market trends to ensure that client plans are responsive.
  • Devise debt liquidation plans that include payoff priorities and timelines.
  • Manage client portfolios, keeping client plans up-to-date.
  • Inform clients about tax benefits, government rebates, or other financial benefits of alternative fuel vehicle purchases or energy efficient home construction, improvements, or remodeling.
  • Recruit and maintain client bases.
  • Conduct seminars or workshops on financial planning topics, such as retirement planning, estate planning, or the evaluation of severance packages.
  • Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.
  • Open accounts for clients and disburse funds from accounts to creditors as agent for clients.

What work activities are most important?

Importance Activities

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.

Making Decisions and Solving Problems - Analyzing information and evaluating results to choose the best solution and solve problems.

Interacting With Computers - Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.

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.

Organizing, Planning, and Prioritizing Work - Developing specific goals and plans to prioritize, organize, and accomplish your work.

Processing Information - Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.

Identifying Objects, Actions, and Events - Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.

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.

Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.

Thinking Creatively - Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.

Provide Consultation and Advice to Others - Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.

Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.

Performing for or Working Directly with the Public - Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.

Documenting/Recording Information - Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.

Judging the Qualities of Things, Services, or People - Assessing the value, importance, or quality of things or people.

Selling or Influencing Others - Convincing others to buy merchandise/goods or to otherwise change their minds or actions.

Monitoring and Controlling Resources - Monitoring and controlling resources and overseeing the spending of money.

Monitor Processes, Materials, or Surroundings - Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.

Developing and Building Teams - Encouraging and building mutual trust, respect, and cooperation among team members.

Coaching and Developing Others - Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.

Scheduling Work and Activities - Scheduling events, programs, and activities, as well as the work of others.

Performing Administrative Activities - Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.

Training and Teaching Others - Identifying the educational needs of others, developing formal educational or training programs or classes, and teaching or instructing others.

Resolving Conflicts and Negotiating with Others - Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.

Guiding, Directing, and Motivating Subordinates - Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.

Coordinating the Work and Activities of Others - Getting members of a group to work together to accomplish tasks.

Assisting and Caring for Others - Providing personal assistance, medical attention, emotional support, or other personal care to others such as coworkers, customers, or patients.

Estimating the Quantifiable Characteristics of Products, Events, or Information - Estimating sizes, distances, and quantities; or determining time, costs, resources, or materials needed to perform a work activity.

Staffing Organizational Units - Recruiting, interviewing, selecting, hiring, and promoting employees in an organization.

Holland Code Chart for a Personal Financial Advisor

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