How to become a Personal Financial Advisor
Official title: Personal Financial Advisors
Also called: Certified Financial Planner (CFP), Financial Advisor, Financial Consultant, Financial Counselor, Financial Life Planner, Financial Planner, Investment Advisor, Portfolio Manager, Wealth Advisor, Wealth Manager
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.
Main tasks
- 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.
- 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.
- 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.
- Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
- Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
- Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
How to become one
Personal financial advisors typically need a bachelor's degree to enter the occupation. A master's degree and certification may improve chances for advancement.
Typical education to start: Bachelor's degree
Read the full guide from the U.S. Bureau of Labor Statistics
Ways in
- College: Business & Commerce degrees, Offered by 35 universities in the US
- Licence: A licence is required in 30 states.
Pay · Outlook · AI and this job
- Median pay: $105,070 a year The middle half earn $72,440 to $176,790.
- About 299,400 people work in this job now, and about 303,500 are projected by 2035. (+1.4%)
- People already use generative AI for a good share of this work, which usually changes the job more than it replaces it. Microsoft Research rates its AI applicability as high.
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Questions people ask
How do I become a Personal Financial Advisor?
Personal financial advisors typically need a bachelor's degree to enter the occupation. A master's degree and certification may improve chances for advancement.
How much does a Personal Financial Advisor earn in the US?
Median full-time pay is $105,070 a year (U.S. Bureau of Labor Statistics). The middle half earn $72,440 to $176,790.
Is a Personal Financial Advisor a growing career in the US?
Employment is projected to stay about the same by 2035: about 299,400 people now and 303,500 later (U.S. Bureau of Labor Statistics).
Do you need a degree to become a Personal Financial Advisor?
Usually. 81% of people in this job hold a bachelor's degree or higher.
Will AI change the work of a Personal Financial Advisor?
People already use generative AI for a good share of this work, which usually changes the job more than it replaces it. Microsoft Research rates its AI applicability as high.
Sources
- Microsoft Research: Working with AI: AI applicability by occupation (2025-12-22 (built on O*NET 29.0)), CC BY 4.0, retrieved 2026-10-03
- U.S. Bureau of Labor Statistics: Employment Projections (2025-35 (released 2026-08-27)), Public domain (BLS), retrieved 2026-10-03
- U.S. Bureau of Labor Statistics: Occupational Outlook Handbook (2025-35 edition (published 2026-08-27)), Public domain (BLS); photographs excluded, retrieved 2026-10-03
- U.S. Bureau of Labor Statistics: Occupational Employment and Wage Statistics (May 2025), Public domain (BLS), retrieved 2026-10-03
Updated 2026-10-03
This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET is a trademark of USDOL/ETA.