Business & Office career

Financial Advisor

Also called: Personal Financial Advisor · Financial Planner · Wealth Advisor · Certified Financial Planner

What financial advisors do, what they earn, how long training takes and how to get started, with official BLS pay data and practical, job-level detail.

Updated By the Career Education Institute Curriculum Team
What does a financial advisor do?

Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes and retirement. The median pay is $105,070 per year (BLS, May 2025), most people train for about Long-term on-the-job training, and employment is projected to grow +1.4% from 2025–35.

Pay data: BLS OEWS, May 2025 · Outlook: BLS 2025–35 · Checked October 15, 2026

  • Median pay
    $105,070
    $50.51/hour · May 2025
  • Job growth
    +1.4%
    2025–35, slower than average
  • Openings per year
    17,100
    Average, 2025–35
  • Typical entry education
    Bachelor's degree
    BLS classification
  • Time to train
    Long-term on-the-job training
    Typical program length
  • U.S. jobs
    299,400
    Employment, 2025

What financial advisors do

Financial advisors help people manage money over a lifetime. They learn about a client’s goals, build financial plans, recommend investments and insurance, plan for retirement and taxes, and meet regularly to review progress. Many build their own client base; some work for banks or brokerages.

Most have a bachelor’s degree and must pass licensing exams to sell securities. The CFP is a leading credential. BLS lists long-term on-the-job training as typical.

Typical duties

  • Meet clients about goals
  • Build financial plans
  • Recommend investments
  • Plan for retirement
  • Review insurance needs
  • Rebalance portfolios
  • Find new clients

Work environment and schedule

Advisors work in offices and meet clients in person or by video.

Schedule: Full time, with some evening and weekend meetings.

A day in the life

  1. Review market news.
  2. Meet a couple about retirement.
  3. Rebalance portfolios.
  4. Lunch with an estate attorney.

See a full day in the life of a financial advisor →

Financial Advisor salary

Half of financial advisors earned more than $105,070 and half earned less in May 2025. Pay ranged from about $50,190 for the lowest 10% to $357,020 for the top 10%.

Full financial advisor pay scale and hourly rates →

How to become a financial advisor

  1. Earn a bachelor’s
  2. Join a firm
  3. Pass licensing exams
  4. Earn the CFP
  5. Build a client base

A bachelor’s degree in finance, economics or business is typical, plus licensing exams.

Step-by-step guide to becoming a financial advisor →

Skills and tools

Technical skills

  • Financial planning
  • Investments
  • Retirement planning
  • Tax basics
  • Insurance

People skills

  • Trust-building
  • Listening
  • Communication
  • Patience

All financial advisor skills and tools →

Pros and cons

Pros

  • High earning potential
  • Long client relationships
  • Help families
  • Can run your own practice

Cons

  • Building a client base is hard
  • Sales pressure early
  • Market swings stress clients
  • Licensing exams

Certifications and licenses

  • CFP: Certified Financial Planner.
  • Series 65 or 66: Investment adviser license.
  • Series 7: Securities sales license.
  • ChFC: Chartered Financial Consultant.

Career path

  1. Associate Advisor: Support.
  2. Financial Advisor: Own clients.
  3. Senior Advisor: Large clients.
  4. Practice Owner: Run a firm.

Learn the job before day one

Our Financial Advisor training (12 hours, $109.99) covers the role, 15+ key terms, step-by-step procedures such as run a first client discovery meeting and build a retirement income plan, safety and how to land your first job.

View Financial Advisor trainingIs this career right for me?

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Compare: Financial Advisor vs. Financial Analyst · Financial Advisor vs. Financial Sales Agent · Financial Advisor vs. Insurance Agent · Financial Advisor vs. Accountant

Financial Advisor FAQ

What is a fiduciary?

An advisor required to act in the client’s best interest.

How long does the CFP take?

Education, an exam and several years of experience.

Do advisors need licenses?

Yes, to sell securities or give investment advice.

How much does a financial advisor make?

The median annual wage for financial advisors was $105,070 ($50.51 per hour) in May 2025, according to the U.S. Bureau of Labor Statistics. The lowest 10% earned less than $50,190 and the highest 10% earned more than $357,020.

How long does it take to become a financial advisor?

Most people need about Long-term on-the-job training of training. A bachelor’s degree in finance, economics or business is typical, plus licensing exams.

Do you need a degree to be a financial advisor?

Usually, yes. BLS lists a bachelor's degree as the typical entry-level education, although skills, certifications and experience can sometimes substitute.

More financial advisor questions →

Sources

Reviewed by the Career Education Institute Curriculum Team. Pay figures are national estimates; local pay varies. See our editorial policy.

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