Will “Wealth Management Advisor” be Replaced By Robots? 🤔

58% Chance of Automation

“Wealth Management 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 “Wealth Management Advisor”

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

Related Technology & Tools

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

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