Will “Financial Counselor” be Replaced By Robots? 🤔

58% Chance of Automation

“Financial Counselor” 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 Counselor”

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

Related Technology & Tools

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

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