Personal financial advisors salary

Personal financial advisors salary DEFAULT

Average Personal Financial Advisor Salary

Avg. Base Salary (USD)

The average salary for a Personal Financial Advisor is $69,745


What is the Pay by Experience Level for Personal Financial Advisors?

An entry-level Personal Financial Advisor with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $44,560 based on 19 salaries. An early career Personal Financial Advisor with 1-4 years of experience earns an average total compensation of $62,421 based on 55 …Read more

What Do Personal Financial Advisors Do?

A personal financial advisor assists individuals with reaching financial objectives and educational goals, retirement and estate planning, and other investing decisions, and they make insurance/risk management recommendations for their clients. Entry into the financial advising field generally requires a bachelor's degree, preferably in accounting, finance, or a related field. The certified financial planner (CFP) designation is the preferred professional qualification. Additional licensing …Read more

Personal Financial Advisor Tasks

  • Guide clients through financial self-analysis, including goal setting and advice to reach goals.
  • Assist clients with estate management, tax returns, budgets, or other financial tasks.
  • Follow-up with clients on plans, track successes, and inform about modifications.

Job Satisfaction for Personal Financial Advisor

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Gender Breakdown

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Common Health Benefits


Personal Financial Advisors

How to Become a Personal Financial Advisor About this section

Personal financial advisors

Personal financial advisors must establish trust with clients and respond to their questions and concerns.

Personal financial advisors typically need a bachelor’s degree. A master’s degree and certification can improve one’s chances for advancement in the occupation.


Personal financial advisors typically need a bachelor’s degree. Although employers usually do not require personal financial advisors to have completed a specific course of study, a degree in finance, economics, accounting, business, mathematics, or law is good preparation for this occupation. Courses in investments, taxes, estate planning, and risk management are also helpful. Programs in financial planning are becoming more available in colleges and universities.


Once they are hired, personal financial advisors often enter an on-the-job training period. During this time, new advisors work under the supervision of senior advisors and learn how to perform their duties, including building a client network and developing investment portfolios. This training usually lasts for more than a year.

Licenses, Certifications, and Registrations

Personal financial advisors who directly buy or sell stocks, bonds, or insurance policies, or who provide specific investment advice, need a combination of licenses that varies with the products they sell. In addition to being required to have those licenses, advisors in smaller firms that manage clients’ investments must be registered with state regulators and those in larger firms must be registered with the Securities and Exchange Commission. Personal financial advisors who choose to sell insurance need licenses issued by state boards. Information on state licensing board requirements for registered investment advisors is available from the North American Securities Administrators Association.

Certifications can enhance a personal financial advisor’s reputation and can help bring in new clients. The Certified Financial Planner Board of Standards offers the Certified Financial Planner (CFP) certification. For this certification, advisors must have a bachelor’s degree, complete at least 3 years of relevant work experience, pass an exam, and agree to adhere to a code of ethics. The CFP exam covers the general principles of financial planning, insurance planning, risk management, employee benefits planning, income taxes and retirement planning, investment and real estate planning, debt management, planning liability, emergency fund reserves, and statistical modeling.


A master’s degree in an area such as finance or business administration can improve a personal financial advisor’s chances of moving into a management position and attracting new clients.

Important Qualities

Analytical skills. In determining an investment portfolio for a client, personal financial advisors must be able to take into account a range of information, including economic trends, regulatory changes, and the client’s comfort with risky decisions.

Interpersonal skills. A major part of a personal financial advisor’s job is making clients feel comfortable. Advisors must establish trust with clients and respond well to their questions and concerns.

Math skills. Personal financial advisors should be good at mathematics because they constantly work with numbers. They determine the amount invested, how that amount has grown or decreased over time, and how a portfolio is distributed among different investments.

Sales skills. To expand their base of clients, personal financial advisors must be convincing and persistent in selling their services.

Speaking skills. Personal financial advisors interact with clients every day. They must explain complex financial concepts in understandable language.

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How much does a Personal Financial Advisor make in the United States? The average Personal Financial Advisor salary in the United States is $66,841 as of September 27, 2021, but the salary range typically falls between $56,682 and $80,362. Salary ranges can vary widely depending on many important factors, including education, certifications, additional skills, the number of years you have spent in your profession. With more online, real-time compensation data than any other website, helps you determine your exact pay target. 

SalarySalary + BonusBenefitsHow To Become

Based on HR-reported data: a national average with a geographic differential

Personal Financial Advisor Salaries by Percentile

Percentile Salary LocationLast Updated
10th Percentile Personal Financial Advisor Salary$47,433USSeptember 27, 2021
25th Percentile Personal Financial Advisor Salary$56,682USSeptember 27, 2021
50th Percentile Personal Financial Advisor Salary$66,841USSeptember 27, 2021
75th Percentile Personal Financial Advisor Salary$80,362USSeptember 27, 2021
90th Percentile Personal Financial Advisor Salary$92,673USSeptember 27, 2021

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What is a Personal Financial Advisor ?

A financial adviser or financial advisor (considered cognates with interchangeable spelling), is a professional who suggests and renders financial services to clients based on their financial situation. In many countries financial advisors have to complete specific training and hold a license to provide advice. In the United States for example a financial adviser carries a Series 65 or 66 license and according to the U.S. Financial Industry Regulatory Authority (FINRA), license designations and compliance issues must be reported for public view. FINRA describes the main groups of investment...

Source: Wikipedia (as of 04/18/2019). Read more from Wikipedia

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Understand the total compensation opportunity for a Personal Financial Advisor, base salary plus other pay elements

Average Base Salary

Core compensation




Average Total Cash Compensation

Includes base and annual incentives




These charts show the average base salary (core compensation), as well as the average total cash compensation for the job of Personal Financial Advisor in the United States. The base salary for Personal Financial Advisor ranges from $56,682 to $80,362 with the average base salary of $66,841. The total cash compensation, which includes base, and annual incentives, can vary anywhere from $59,460 to $89,039 with the average total cash compensation of $71,437.

Become a Financial Adviser in 2021? Salary, Jobs, Forecast

Salary for Personal Financial Advisors

Also known as:  Certified Financial Planner, Estate Planner, Estate Planning Counselor, Financial Counselor, Individual Pension Adviser, Individual Pension Consultant, Personal Financial Advisor, Personal Financial Planner, Personal Investment Adviser helps find better paying jobs across all specialties and locations. Sign up in our talent cluster and get scouted today!

Individuals seeking to improve their financial status may turn to personal financial advisors for help. These professionals use their knowledge of the financial industry and investment options to evaluate the financial standing of their clients and to help create realistic financial plans based on the client's goals. Professionals in this industry may suggest the need for changes to individual habits or lifestyle, and may work to accommodate the core values and risk tolerance of their clients. Professional certification may be required in this field, and most professionals in this occupation have their Bachelor's or Master's degrees. Some may also have doctorates in related fields.

A Personal Financial Advisor gets a salary of between $44,100 - $208,000 depending on seniority. usually get an average wage of one hundred and twenty-two thousand four hundred and ninety dollars on a yearly basis.

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Are you an aspiring personal financial advisor? Want a new opportunity where you can earn a higher salary? Join our personal financial advisor talent pool today, and get scouted!

The national wage distribution is shown below. To overlay local salaries for a Personal Financial Advisor, please select your state.

Personal Financial Advisors tend to make the most in the following industries:

In general, they earn less within the industries below:


Financial advisors salary personal

A great financial adviser has specialist knowledge of investments, savings and money management but also possesses great people skills

Financial advisers provide clients with specialist advice on how to manage their money. The role involves researching the marketplace and recommending the most appropriate products and services available, ensuring that clients are aware of products that best meet their needs, and then securing a sale.

Advisers may specialise in particular products, depending on their clients, such as selling employee pension schemes to companies or offering mortgage, pension or investment advice to private clients. Others are generalists, offering advice to clients in all of these areas, as well as saving plans and insurance.

In order to give financial advice, advisers must have professional qualifications and follow strict financial industry rules.

Financial advisers are also known as financial planners or wealth managers.


There are two types of financial adviser and advice - independent and restricted.

Independent advisers, also called independent financial advisers (IFAs), research and consider all retail investment products or providers available to meet the client's needs. They must provide clients with unbiased and unrestricted advice.

Restricted advisers only offer limited advice, focusing on a particular range of products or on products from one, or a limited number, of providers.

All advisers must inform their clients, before providing advice, whether they provide independent or restricted advice.

Your tasks will vary depending on your role but will typically involve:

  • contacting clients and setting up meetings, either within an office environment or in clients' homes or business premises
  • conducting in-depth reviews of clients' financial circumstances, current provision and future aims
  • analysing information and preparing plans best suited to individual clients' requirements
  • completing risk analyses
  • researching the marketplace and providing clients with information on new and existing products and services
  • designing financial strategies
  • assisting clients to make informed decisions
  • researching information from various sources, including providers of financial products
  • reviewing and responding to clients changing needs and financial circumstances
  • promoting and selling financial products to meet given or negotiated sales targets
  • negotiating with product suppliers for the best possible rates
  • liaising with head office and financial services providers
  • communicating with other professionals, such as estate agents, solicitors and valuers
  • keeping up to date with financial products and legislation
  • producing financial reports
  • contacting clients with news of new financial products or changes to legislation that may affect their savings and investments
  • meeting the regulatory aspects of the role, e.g. requirements for disclosure, costs of the services provided and also the advised products.


  • Salaries at trainee adviser level range from £22,000 to £30,000.
  • Qualified financial advisers can earn between £30,000 and £45,000.
  • Senior financial advisers working with an average-wealth client base can earn in the region of £60,000.
  • Wealth managers or private client advisers who are based in the wealth division of major retail and private banks can earn more than £100,000.

Financial advisers may also earn bonuses and commission and have additional benefits on top of their salary.

Salaries vary considerably depending on your employer and location, as well as on your level of qualifications and experience.

Income figures are intended as a guide only.

Working hours

Some jobs, for example a tied adviser in a high street bank, offer regular office hours. However, flexibility is required if working for a banking contact centre or as an independent financial adviser (IFA), as clients may require evening and weekend meetings.

What to expect

  • Working can be office based although IFAs may work from home or meet clients in their own homes.
  • Self-employment is common.
  • There are openings for tied, multi-tied and independent advisers throughout the UK. However, private banking positions tend to be based in the City of London and other key financial areas such as Belfast, Edinburgh and Manchester.
  • Travel within a working day is common for IFAs, but overnight stays away from home are unusual.
  • Due to the regulatory nature of financial advice, overseas work is uncommon and most jobs are UK-based, serving UK customers. However, there are some opportunities for experienced advisers to work abroad for offshore financial advisory groups and international banks.


Although this area of work is open to graduates and diplomates of any discipline, the following subjects may improve your chances:

  • accountancy
  • business management
  • finance or financial studies.

Entry without a degree is possible and employers often regard personal qualities as just as important as academic qualifications.

Relevant experience in a customer service, sales or financial services setting is also viewed positively. New entrants often start in a bank and study part time, learning alongside experienced advisers.

It's possible to enter the financial advice sector as a paraplanner, providing research and administrative support to a financial adviser.

A pre-entry postgraduate qualification is not needed.

Some retail banks offer graduate training schemes, whereas private banks often recruit graduates directly into the business.

It's possible to move into financial advice from other areas of the banking and insurance sector.


You'll need to show evidence of the following:

  • excellent communication, interpersonal and listening skills
  • the capability to explain complex information simply and clearly
  • the ability to network and establish relationships with clients
  • research and analytical skills
  • negotiation and influencing skills as well as determination and tenacity
  • the ability to work in a team
  • time management skills
  • customer service skills
  • self-motivation and organisation
  • a good level of numeracy and IT skills
  • a target-driven mindset
  • a flexible approach to work
  • decision-making skills
  • discretion and an understanding of the need for client confidentiality
  • an ethical and professional approach to work.

A full driving licence is useful, particularly for independent financial advisers (IFAs) who may have to travel to visit clients in their own homes.

Work experience

Evidence of commercial awareness acquired through part-time or vacation work or a longer work placement is useful. Experience in sales, advisory or customer service work is also valuable. Talk to a financial adviser for a greater insight into this area of work.


Financial advisers usually work for:

  • banks and building societies
  • financial planning firms
  • independent financial advice companies
  • insurance companies
  • investment firms.

Others are employed by estate agencies, specialist pension consultancies, law firms and by a number of retailers who have developed financial services as a part of their business. Some work as self-employed advisers.

Independent financial advisers (IFAs) may work for an organisation or may be self-employed, providing advice on products across the market.

Look for job vacancies at:

You can also check the local and national press, and recruitment agencies commonly handle vacancies.

Professional development

In order to become a qualified financial adviser you must take specific professional qualifications. Giving investment financial advice is regulated by the Financial Conduct Authority (FCA).

Employers often provide internal training and support to employees in gaining the minimum Level 4 qualifications needed to deliver financial advice. These include:

Financial advisers who want to provide advice on mortgages or equity, stocks and shares, or long-term care protection will need to take additional examinations.

For more information on the appropriate qualifications, see the FCA.

All financial advisers working in retail investment must have a Statement of Professional Standing (SPS), which confirms that they have successfully completed a Level 4 qualification approved by the FCA. They must also complete an annual programme of continuing professional development (CPD) of 35 hours and adhere to the FCA code of practice.

Many trainee advisers begin as tied advisers, gaining basic training in a range of financial products. Employers usually provide this in-house through a combination of formal tuition and on-the-job training. Trainees will gradually begin to work with clients under supervision and, gaining experience and qualifications, will acquire their own book of clients.

In the early stages you'll usually shadow an experienced financial adviser, doing some of the research and administration connected with their work and then you will gradually begin to deal directly with clients yourself, under supervision. As you become more experienced, you will acquire your own list of clients.

Most employers provide training and pay for examinations, but trainees are usually expected to study outside working hours and many courses offer distance learning opportunities. After you are qualified, regular supervision ensures that you maintain levels of competence and compliance with regulations.

The qualifications that you take may depend on the requirements of the organisation you work for and their specialist area.

Career prospects

After a period as a successful financial adviser, you could choose to:

  • work on behalf of clients with larger sums to invest
  • specialise in one type of financial advice, such as pensions and retirement, planning or savings investments plans - you might become the acknowledged expert in your office and colleagues would refer to you when they needed specialist advice for a client
  • move upwards within your company and become responsible for the work of several other advisers, for the recruitment and training of new staff or for marketing and promoting the company - this might involve developing links with accountants, estate agents and solicitors in order to encourage them to refer clients to you.

Some advisers move into compliance work, which involves ensuring that all advisers follow company rules and regulations issued by regulatory bodies.

There may also be opportunities to become a director or partner in your firm.

Self-employment is another option. It's quite common for financial sales consultants with successful employment experience to launch their own businesses as independent financial advisers (IFAs).

You should continue to develop your skills and knowledge throughout your career. Studying for more advanced or specialised professional qualifications can enhance your career development opportunities. Qualifications include:

It's also possible to study full or part time for an MBA.

Find out how Chloe become a financial adviser on a graduate scheme at BBC Bitesize.


See how well you match this job profile and over 400 others.

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Personal Financial Advisor Salary

Personal Financial Advisors: Salary, career path, job outlook, education and more

Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances.

What do Personal Financial Advisors do?

Personal financial advisors typically do the following:

  • Meet with clients in person to discuss their financial goals
  • Explain the types of financial services they provide to potential clients
  • Educate clients and answer questions about investment options and potential risks
  • Recommend investments to clients or select investments on their behalf
  • Help clients plan for specific circumstances, such as education expenses or retirement
  • Monitor clients accounts and determine if changes are needed to improve financial performance or to accommodate life changes, such as getting married or having children
  • Research investment opportunities

Personal financial advisors assess the financial needs of individuals and help them with decisions on investments (such as stocks and bonds), tax laws, and insurance. Advisors help clients plan for short- and long-term goals, such as meeting education expenses and saving for retirement through investments. They invest clients money based on the clients decisions. Many advisors also provide tax advice or sell insurance.

Although most planners offer advice on a wide range of topics, some specialize in areas such as retirement or risk management (evaluating how willing the investor is to take chances and adjusting investments accordingly).

Many personal financial advisors spend a lot of time marketing their services, and they meet potential clients by giving seminars or participating in business and social networking. Networking is the process of meeting and exchanging information with people, or groups of people, who have similar interests.

After financial advisors have invested funds for a client, they and the client receive regular investment reports. Advisors monitor the clients investments and usually meet with each client at least once a year to update the client on potential investments and to adjust the financial plan based on the clients circumstances or because investment options may have changed.

Many personal financial advisors are licensed to directly buy and sell financial products, such as stocks, bonds, annuities, and insurance. Depending on the agreement they have with their clients, personal financial advisors may have the clients permission to make decisions about buying and selling stocks and bonds.

Careers for Personal Financial Advisors

  • Certified financial planners
  • Consultants, financial
  • Estate planners
  • Estate planning counselors
  • Financial consultants
  • Financial counselors
  • Financial planners
  • Individual pension advisers
  • Individual pension consultants
  • Personal financial planners
  • Personal investment advisers
  • Private bankers
  • Wealth managers

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