Aptitudes/Skills  Skills:  Analytical  Interpersonal  Math  Spelling  Communication/Speaking.

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Presentation transcript:

Aptitudes/Skills  Skills:  Analytical  Interpersonal  Math  Spelling  Communication/Speaking

Work Setting–Nature of Work  Most personal financial advisors work full time  24% work more than 50 hours per week  Meetings with existing or new clients.

Industries Employed Personal Account Managers 2010  Other financial investment activities 26%  Monetary authorities, credit intermediation, and related activities 19%  Securities and commodity contracts intermediation and brokerage 19%  Insurance carriers and related activities 3%  Professional, scientific, and technical services 3%

Employers in the State of VA  First Command Financial Services Inc.  Woodbridge, VA  Edward Jones  Roanoke, VA  Linda DiOrazio  Chester, VA

Description: SalaryPhysical Demands  Median Annual Wage (as of May 2010)  $64,750  Starting Salary  Approximately $32,000  Full time work schedule  Includes meetings both during work day and sometimes during personal schedule.  Can be stressful at times

Employment Outlook  Employment of personal financial advisors is projected to grow 32% from 2010 to  Financial advisors will also face competition due to:  Higher wages  Few formal education requirements  As aging population (baby boomers) increases  Advice from personal financial advisors increases.

Education & Training  Bachelor’s Degree  Degree’s in finance, economics, accounting, business, mathematics, or law are helpful for the occupation.  Financial planning courses in college are trending in availability.

Licensure & Certification LicenseCertification  Multiple combinations of licenses  Vary based on products sold  Registration:  Small firms = State Regulators  Large firms = Securities and Exchange Commission  Certified Financial Planner (CFP)  Bachelor's degree  At least 3 years of relevant work experience  Pass an exam  Agree to adhere to a code of ethics

Advancement Opportunities  Master’s Degree in Finance or Business Administration  Will improve chance for management position  Attract new clients

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