Will “Financial Consultant” be Replaced By Robots? 🤔

58% Chance of Automation

“Financial Consultant” 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 Consultant”

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

Related Technology & Tools

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

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