Will “Financial Advisor” be Replaced By Robots? 🤔

58% Chance of Automation

“Financial Advisor” will maybe be replaced by robots.

This job is ranked #324 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.

Care to share? Click for Facebook, Twitter, LinkedIn, or XING. 👍

Job 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.

Job Details

The SOC (Standard Occupational Classification) code is 13-2052.00
The Mean Annual Wage in the U.S. is $ 123,100.00
The Mean Hourly Wage is $ 59.00
Currently, there are 201,850 people on this job

☝️ Information based on the reference occupation “Personal Financial Advisors”.

Also Known As…

Tasks for “Financial Advisor”

Devise debt liquidation plans that include payoff priorities and timelines.
Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
Recruit and maintain client bases.
Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
Prepare or interpret for clients information such as investment performance reports, financial document summaries, or income projections.
Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
Manage client portfolios, keeping client plans up-to-date.
Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
Investigate available investment opportunities to determine compatibility with client financial plans.
Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
Monitor financial market trends to ensure that client plans are responsive.
Contact clients periodically to determine any changes in their financial status.
Open accounts for clients and disburse funds from accounts to creditors as agent for clients.
Answer clients' questions about the purposes and details of financial plans and strategies.
Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.
Conduct seminars or workshops on financial planning topics, such as retirement planning, estate planning, or the evaluation of severance packages.
Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
Inform clients about tax benefits, government rebates, or other financial benefits of alternative fuel vehicle purchases or energy efficient home construction, improvements, or remodeling.
Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.

Related Technology & Tools

Personal computers
Personal digital assistants PDA
Desktop computers
Tablet computers
Notebook computers
10-key calculators

ProTracker Advantage
Practice management software PMS
Oracle Hyperion
SunGard PlanningStation
Host Analytics Host Budget
MasterPlan
Financeware Finance File Manager
Investigo
Needs analysis software
Financial Planning Consultants Practice Builder
SunGard LockBox
Cygnus IncomeMax
Sawhney ExecPlan
Microsoft Dynamics
Corel QuattroPro
ASI Client Acquisition Solution
Torrid Retirement Planner
Redtail Technology Our Business Online
Financeware WealthSimulator
PlanPlus Pro
Microsoft Business Contact Manager
MoneyTree Silver Financial Planner (presentation feature)
Education planning software
Investment tracking software
Finance Logix Retirement Planner
Investment and business valuation template software
Impact PlanLabX3
Structured query language SQL
IBM Lotus 1-2-3
Advisory World ICE
Microsoft Word
PIE Technologies MoneyGuidePro
WealthTec Foundations
Finance Logix Education Planner
Cheshire Financial Planning Suite
Estate Capitol Needs Analysis
Monte Carlo simulation software
eMoneyAdvisor AdvisorPlatform
CRM Software Junxure-i
Morningstar Principia
Optima IAS
SunGard WebPlaid
Retirement planning software
Microsoft Office
Unger Software Methusaleh
Microsoft PowerPoint
Cabinet NG CNG-SAFE
Financeware AASim
AdviceAmerica AdvisorVision
Asset allocation software
Thomson ONE Advisor
Oracle PeopleSoft Financials
WealthTec AllocationPro
J&L Financial Planner
CRM Software Junxure
Ibbotson Portfolio Strategist
Getting Things Done GTD software
Brentmark Stock Option Risk Analyzer
Microsoft Money
IBM Domino
Pimlico Software DateBk
Financial planning software
Oracle E-Business Suite Financials
Salesforce software
Web Information Solutions Pocket Informant
MoneyTree Silver Financial Planner (financial analysis feature)
The Omni Group OmniPlan
Advent Axys
EZ-Data Client Data System
IMPACT Wealth Distribution Analysis
PlanScan Portfolio Pathfinder
Financial report generation software
Fund accounting software
Tax planning software
ScenarioNow RetireNow
Portfolio management software
ExpenseWatch
SunGard Frontier
World Software Corporation Worldox
Intuit Quicken
DataViz Beyond Contacts
Net Worth Strategies Stock Opter Pro
Financial Profiles Profiles+ Professional
Financial planning presentation software
WealthTec WealthMaster
ComplianceMAX
ScanSoft PaperPort Pro
Finance Logix Insurance Planner
EISI NaviPlan
ACT! ACT4Advisors
Automatic Data Processing ProxyEdge
Web browser software
Sage 50 Accounting
Microsoft Excel
Microsoft Access
Estate planning software
Ibbotson Analyst