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”

Answer clients' questions about the purposes and details of financial plans and strategies.
Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
Conduct seminars or workshops on financial planning topics, such as retirement planning, estate planning, or the evaluation of severance packages.
Open accounts for clients and disburse funds from accounts to creditors as agent for clients.
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.
Monitor financial market trends to ensure that client plans are responsive.
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.
Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
Prepare or interpret for clients information such as investment performance reports, financial document summaries, or income projections.
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.
Devise debt liquidation plans that include payoff priorities and timelines.
Recommend environmentally responsible investments, such as cleantech, alternative energy, or conservation technologies, companies, or funds.
Inform clients about tax benefits, government rebates, or other financial benefits of alternative fuel vehicle purchases or energy efficient home construction, improvements, or remodeling.
Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
Manage client portfolios, keeping client plans up-to-date.
Recruit and maintain client bases.
Implement financial planning recommendations or refer clients to someone who can assist them with plan implementation.
Recommend financial products, such as stocks, bonds, mutual funds, or insurance.
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
Personal computers
Tablet computers
Desktop computers
Personal digital assistants PDA
Notebook computers

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