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Personal finance advisors are consultants that assist people with financial advice. They examine clients’ finances, make recommendations on programs and investments, and help their clients establish budgets. Personal finance advisors also assist with insurance purchases and taxes. According to the U.S. Bureau of Labor Statistics, the personal finance advisor career field is growing faster than the average career field, most likely due to the increasing demand that individuals and small businesses have for help in managing funds.
Why Personal Finance Advising?
Due to the fact that the nation’s elderly population is growing, there will be an increased need for personal finance advisors to help with investments and retirement options. Personal finance advisors should therefore have very little trouble finding work. In addition, they have the potential to earn competitive pay. The BLS reports that the average personal finance advisors earns $64,750 annually, though individual salaries may vary.
Getting Into Personal Finance Advising
Personal finance advisors need at least a bachelor’s degree before they can qualify for entry-level positions. They have the option of pursuing online bachelors degree programs in fields like accounting, business, finance, or economics. The best online degree programs will also teach students about taxes and risk management. For personal finance advisors that want to advance, online masters degree programs in the financial sector are recommended.