Will “Money Manager” be Replaced By Robots? 🤔
58% Chance of Automation
“Money Manager” 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…
- Personal Financial Advisors
- Registered Representative
- Portfolio Manager
- Investment Advisor
- Financial Planner
- Financial Counselor
- Financial Consultant
- Financial Advisor
- Certified Financial Planner (CFP)
- Analyst
- Account Executive
- Wealth Management Advisor
- Trustee of Estate
- Strategist
- Socially Responsible Investment Adviser
- Securities Counselor
- Securities Consultant
- Relationship Manager
- Personal Investment Adviser
- Personal Financial Planner
- Personal Financial Advisor
- Personal Banker
- Pension Consultant
- Pension Adviser
- Investments Manager
- Investment Representative
- Investment Counselor
- Investment Consultant
- Insurance Consultant
- Insurance Adviser
- Individual Pension Consultant
- Individual Pension Adviser
- Fiscal Specialist
- Financial Solutions Advisor
- Financial Retirement Plan Specialist
- Financial Professional
- Financial Coordinator
- Financial Agent
- Financial Adviser
- Finance Consultant
- Estate Planning Counselor
- Estate Planner
- Debt Counselor
- Credit Counselor
- Chartered Financial Analyst (CFA)
- Budget Counselor
- Asset Manager
- Asset Analyst
- Advisor
- Account Manager
Tasks for “Money Manager”
- Investigate available investment opportunities to determine compatibility with client financial plans.
- Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
- Open accounts for clients and disburse funds from accounts to creditors as agent for clients.
- Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
- 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.
- Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
- Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
- Manage client portfolios, keeping client plans up-to-date.
- Contact clients periodically to determine any changes in their financial status.
- Inform clients about tax benefits, government rebates, or other financial benefits of alternative fuel vehicle purchases or energy efficient home construction, improvements, or remodeling.
- Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
- 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.
- Conduct seminars or workshops on financial planning topics, such as retirement planning, estate planning, or the evaluation of severance packages.
- Monitor financial market trends to ensure that client plans are responsive.
- Recruit and maintain client bases.
- Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
- 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.
- Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.
Related Technology & Tools
- Notebook computers
- Personal computers
- 10-key calculators
- Desktop computers
- Personal digital assistants PDA
- Tablet computers
- Brentmark Stock Option Risk Analyzer
- Microsoft Access
- EZ-Data Client Data System
- J&L Financial Planner
- Practice management software PMS
- Advisory World ICE
- Microsoft Office
- Oracle E-Business Suite Financials
- Morningstar Principia
- SunGard Frontier
- Financial report generation software
- Intuit Quicken
- CRM Software Junxure-i
- World Software Corporation Worldox
- Investigo
- Needs analysis software
- Finance Logix Insurance Planner
- Web Information Solutions Pocket Informant
- Host Analytics Host Budget
- MoneyTree Silver Financial Planner (presentation feature)
- CRM Software Junxure
- Salesforce software
- Tax planning software
- Corel QuattroPro
- Net Worth Strategies Stock Opter Pro
- Asset allocation software
- Thomson ONE Advisor
- IBM Lotus 1-2-3
- Financial planning software
- MoneyTree Silver Financial Planner (financial analysis feature)
- Estate planning software
- Financeware Finance File Manager
- Finance Logix Education Planner
- Investment tracking software
- Microsoft PowerPoint
- SunGard LockBox
- WealthTec AllocationPro
- Cheshire Financial Planning Suite
- Ibbotson Analyst
- Sawhney ExecPlan
- Monte Carlo simulation software
- ScenarioNow RetireNow
- ProTracker Advantage
- ACT! ACT4Advisors
- MasterPlan
- ASI Client Acquisition Solution
- eMoneyAdvisor AdvisorPlatform
- Financial Planning Consultants Practice Builder
- DataViz Beyond Contacts
- Financeware AASim
- Oracle PeopleSoft Financials
- Ibbotson Portfolio Strategist
- Microsoft Word
- PlanPlus Pro
- Financial Profiles Profiles+ Professional
- Financeware WealthSimulator
- SunGard WebPlaid
- Optima IAS
- Microsoft Dynamics
- PlanScan Portfolio Pathfinder
- IMPACT Wealth Distribution Analysis
- Sage 50 Accounting
- WealthTec Foundations
- Advent Axys
- Microsoft Money
- Cabinet NG CNG-SAFE
- Automatic Data Processing ProxyEdge
- Financial planning presentation software
- EISI NaviPlan
- PIE Technologies MoneyGuidePro
- The Omni Group OmniPlan
- Torrid Retirement Planner
- ExpenseWatch
- Cygnus IncomeMax
- Finance Logix Retirement Planner
- Fund accounting software
- Microsoft Excel
- Retirement planning software
- Web browser software
- Investment and business valuation template software
- Estate Capitol Needs Analysis
- IBM Domino
- WealthTec WealthMaster
- Oracle Hyperion
- AdviceAmerica AdvisorVision
- ScanSoft PaperPort Pro
- Structured query language SQL
- Getting Things Done GTD software
- Redtail Technology Our Business Online
- ComplianceMAX
- Microsoft Business Contact Manager
- SunGard PlanningStation
- Impact PlanLabX3
- Portfolio management software
- Pimlico Software DateBk
- Education planning software
- Unger Software Methusaleh