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Wages and Growth
The U.S. Bureau of Labor Statistics reports that the financial advisor field will grow much faster than average, about 30 percent from 2008 to 2018. In May 2008, the median annual wage was $69,050. The middle 50 percent earned from $46,390 to $119,290 annually.
Financial advisors help individuals make long-term financial plans. Plans include specific goals for each client, risk management procedures and estimating future financial returns. Client interaction is not a daily activity. Most financial advisors check in quarterly, annually or when a client goes through a significant life change.
The certified financial planner (CFP) designation helps financial advisors hone their craft. Candidates must have a bachelor's degree, three years experience and pass a comprehensive exam. Selling securities also requires financial advisors to pass various exams from FINRA, the U.S. agency responsible for regulating securities.
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Category: Personal Finance