Career Details :: Personal Financial Advisors
Description
Advise clients on financial plans utilizing 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 to establish investment strategies.
Experience
Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.
Education
Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree. Some may require a bachelor's degree.
Training
Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers.
Tasks
- Interviews client with debt problems to determine available monthly income after living expenses to meet credit obligations.
- Assists in selection of candidates for specific financial awards or aid.
- Authorizes release of funds to students.
- Prepares required records and reports.
- Opens account for client and disburses funds from account to creditors as agent for client.
- Explains to individuals and groups financial assistance available to college and university students, such as loans, grants, and scholarships.
- Calculates amount of debt and funds available.
- Interviews students to obtain information and compares data on students' applications with eligibility requirements to determine eligibility for assistance program.
- Contacts creditors to arrange for payment adjustments so that payments are feasible for client and agreeable to creditors.
- Determines amount of aid to be granted, considering such factors as funds available, extent of demand, and needs of students.
- Establishes payment priorities to plan payoff method and estimate time for debt liquidation.
- Counsels client on financial problems, such as excessive spending and borrowing of funds.
Related Careers
- Assessors
- Bill and Account Collectors
- Cost Estimators
- Credit Analysts
- Financial Analysts
- Insurance Adjusters, Examiners, and Investigators
- Insurance Appraisers, Auto Damage
- Purchasing Agents, Except Wholesale, Retail, and Farm Products
- Tax Preparers
Important Abilities
General Work Activities
- Communicating With Persons Outside Organization
- Getting Information Needed to Do the Job
- Analyzing Data or Information
- Processing Information
- Provide Consultation & Advice to Others
Important Skills
Frequent Work Context
- Job-Required Social Interaction
- Consequence of Error
- Objective or Subjective Information
- Importance of Being Exact or Accurate
- Importance of Being Sure All Is Done
Related Majors
| Major | Add to XapPack |
|---|---|
| Banking/Finance |  [ add ] |
| Business Administration/Finance | [ add ] |
| Business Financial Management | [ add ] |
| Business/Finance | [ add ] |
| Business/Management/Finance | [ add ] |
| Commerce/Finance | [ add ] |
| Corporate Financial Management | [ add ] |
| Economics/Finance | [ add ] |
| Farm Business Management/Finance | [ add ] |
| Finance | [ add ] |
| Finance/Banking | [ add ] |
| Finance/Business | [ add ] |
| Finance/Economics | [ add ] |
| Finance/Financial Services | [ add ] |
| Finance/Insurance | [ add ] |
| Finance/International Business | [ add ] |
| Finance/Investments | [ add ] |
| Finance/Marketing | [ add ] |
| Finance/Pre-Law | [ add ] |
| Finance/Real Estate | [ add ] |
| Finance/Real Estate/Law | [ add ] |
| Financial Management | [ add ] |
| Financial Planning | [ add ] |
| Financial Planning/Services | [ add ] |
| Financial Services | [ add ] |
| Financial Services/Planning | [ add ] |
| Financial Services/Risk Management | [ add ] |
| Insurance/Finance | [ add ] |
| International Business Finance | [ add ] |
| Quantitative Methods/Finance | [ add ] |
Institutions Offering Related Majors
No institutions found.