DETAILED OCCUPATION DATA
13-2052 Personal Financial Advisors
Occupational Description:
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. Excludes "Securities, Commodities, and Financial Services Sales Agents" (41-3031).| Percentiles | |||||||||
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| Geography | Employment | Emp SE* | Mean | Mean SE* | 10th | 25th | Median | 75th | 90th |
| La Crosse WI-MN MSA | 40 | 12 | $64.81/hr | $4.67/hr | $23.42/hr | $29.49/hr | $55.90/hr | $93.65/hr | $81.00/hr |
| Minnesota | 3,900 | 371 | $53.41/hr | $3.79/hr | $21.81/hr | $27.91/hr | $38.76/hr | $65.32/hr | $81.00/hr |
| U S | 210,190 | 3,153 | $57.89/hr | $0.64/hr | $20.84/hr | $28.04/hr | $42.64/hr | $74.97/hr | $81.00/hr |
| *SE = Standard error, a measure of the statistical reliability of the estimate. | |||||||||
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| Occupation (click title for details) | OES | Projections | |
|---|---|---|---|
| Employment | Median Wage | % Change - | |
| Bill and Account Collectors | 280 | $15.03/hr | N/A |
| Claims Adjusters, Examiners, and Investigators | 140 | $27.74/hr | N/A |
| Cost Estimators | 110 | $29.55/hr | N/A |
| Credit Analysts | 40 | $24.70/hr | N/A |
| Tax Preparers | 10 | $16.59/hr | N/A |
Tasks for Personal Financial Advisors
- 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.
