What financial advisors do
Financial advisors provide guidance to help clients reach their short and long term financial goals. They evaluate income, expenses, debts, and risk tolerance to construct personal financial plans. These plans often address retirement savings, college funds, estate planning, and tax concerns. Advisors recommend investments such as stocks, bonds, and mutual funds, and they execute trades according to client objectives. They also review client portfolios regularly and rebalance asset allocations when market conditions change. Explaining insurance, annuity, and retirement account choices is another major part of the role.
Workplace and working hours
Financial advisors work in securities and brokerage firms, banks, credit unions, insurance companies, independent planning firms, or self-employed practices. The physical requirements involve office work at a desk and computer, along with travel to meet clients or attend networking events. Work schedules are usually full time, frequently exceeding 40 hours a week, especially for professionals working to build a new client base. Advisors work mostly daytime schedules, but they regularly hold evening and weekend meetings to accommodate client availability. Partly remote work is common because meetings can take place through video calls, although many clients prefer meeting in an office.
Education and licensing requirements
A bachelor's degree is the typical starting point for financial advisors. Degrees in finance, economics, accounting, or business provide relevant preparation in investments, taxes, and estate planning. After securing employment, advisors complete firm training programs while preparing for mandatory regulatory credentials. Buying and selling securities requires FINRA securities licenses, such as the Series 7. Advising clients in most states requires passing either the Series 65 or Series 66 exam. Selling life insurance or annuities requires a state insurance license. Many advisors also choose to pursue voluntary credentials, such as the Certified Financial Planner certification, to demonstrate professional competence.
Career progression and industry outlook
Advisors generally start in associate or junior positions before taking full responsibility for their own client accounts. With accumulated experience, they progress to senior advisor or wealth manager roles, and eventually to partner, practice owner, or branch manager. The United States has about 299,400 jobs in the field, with employment projected to change by 1.4% over the next decade. Automated tools and robo-advisors handle portfolio rebalancing and routine tasks, but human advisors remain critical for trust, behavioral coaching, and nuanced family planning.