Career Guide
Financial advisor
If you are undaunted by numbers, excel at strategic data analysis and enjoy collaborating to help clients make every dollar count, you may want to consider a career path as a financial advisor.
If you are undaunted by numbers, excel at strategic data analysis and enjoy collaborating to help clients make every dollar count, you may want to consider a career path as a financial advisor.
Career overview
Financial advisors are business professionals who help clients manage their money and plan for their financial future. They typically provide tailored guidance on investments, tax planning and insurance to help individuals meet short- and long-term financial goals. Their responsibilities may include meeting with clients to understand their financial objectives, offering tax advice, researching and recommending suitable investment options and adjusting financial plans to fit changing circumstances. Self-employed financial advisors may also assist in planning for specific goals like education or retirement. As a financial advisor, you may specialize in areas like retirement planning or risk management and insurance.
In 2023, financial advisors filled approximately 321,000 positions in the national workforce, according to the Bureau of Labor Statistics (BLS). Opportunities to choose your industry and work environment are vast for financial advisors as these professionals are needed across every industry for both for-profit and nonprofit organizations. Many financial advisors join companies that offer financial products and services, such as investment firms, banks, insurance companies and businesses, while others are self-employed, BLS notes. Financial advisors might hold titles like certified financial planner, financial consultant, investment advisor, portfolio manager and wealth advisor, according to O*NET.
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Career-relevant skills
You may see these skills in day-to-day experience in the financial advisor career:
- Financial management
- Financial forecasting
- Profit and loss (P&L) management
- Financial analysis
- Financial accounting
- Variance analysis
- Cash flow
- Time value of money
- Financial planning
- Business valuation
- Fundamental analysis
- Accounting
- Budgeting
- Accounts payable and receivable
- Reconciliations and adjustments
- Accruals
- Income statement
- Microeconomics
- Macroeconomics
- Economic development
- Business economics
- Supply and demand
- Resource allocation
- Corporate finance
- Capital management
- Financial statements
- Business ventures
- Modern Portfolio Theory (MPT)
- Forensic accounting
- Auditing
- Investments
- Wealth management
- Retirement planning
- Benefits planning
- Financial portfolios
- Financial modeling
- Behavioral finance
- Capital markets
- Equity markets
- Enrollment plans
- Financial services
- Financial institutions
- Financial industry regulatory authorities
- Sarbanes-Oxley Act (SOX) compliance
- Corrective and Preventive Action (CAPA)
- Risk management
- Risk analysis
- Underwriting
- Insurance
- Financial technology (FinTech)
- Decentralized finance (DeFi)
- Data security
- Data analysis
- Data modeling
- Data visualization
- Key performance indicators (KPI)
- Financial data
- Client services
- Multinational corporations
- Global finance
- Pivot tables
- Automation
- Spreadsheets
- Forecasting
- Research
- Decision making
- Internal controls
- Business ethics
Soft skills
Regularly used on the job
Active listening, reading comprehension, strong verbal communication, writing and critical thinking are a few of the valuable soft skills you may need in this role, O*NET reports.
Salary range $65 - 169K
25th to 75th percentile
Financial advisors within the 25th and 75th percentiles earned between $65,320 and $169,910 in 2023, according to BLS nationwide statistics.[1]
27,000
Annual job opportunities
Job opportunities for financial advisors are increasing much faster than average, BLS states. With an estimated boost of 55,000 jobs, this field is projected to grow 17% from 2023-2033.[1]
[1] The salary ranges are not specific to students or graduates of University of Phoenix. Actual outcomes vary based on multiple factors, including prior work experience, geographic location, and other factors specific to the individual. University of Phoenix does not guarantee employment, salary level, or career advancement. BLS data is geographically based. Information for a specific state/city can be researched on the BLS website. The BLS Projected Growth for 2023-2033 is published by the US Bureau of Labor Statistics. This data reflects the BLS’ projections of national (not local) conditions. These data points are not specific to University of Phoenix students or graduates.
Education and experience
You can pursue a financial advisor career in a few ways. While most companies do not require a specific degree specialization, a bachelor’s degree is usually needed to qualify for financial advisor positions, according to BLS. Like many aspiring financial professionals, you could earn a degree in business, social science or math. You can take additional courses in investments, taxes, estate planning and risk management to prepare for a career as a financial advisor.
Financial advisors who engage in the buying or selling of stocks, bond and insurance policies or offer specific guidance on investments may need to obtain state licensure to practice. According to BLS, those employed by small companies need to register with state regulators, while financial advisors working for large firms must register with the U.S. Securities and Exchange Commission (SEC).
As a financial advisor, you may be able to advance into the role of a financial manager. Earning a master’s degree in a business field, such as finance or business administration, or related certifications may help you to establish credibility in your position and progress in your career.
University of Phoenix offers an undergraduate program aligned to the financial advisor career. Each course in the highlighted program below is five weeks in length, and students work to complete one course at a time. Learn more about our Bachelor of Science in Finance and Technology degree, designed to teach you the skills you’ll need as a financial advisor, and find out if it is right for you.
Bachelor of Science in Finance and Technology
The Bachelor of Science in Finance and Technology (BSFIN) program focuses on the functional areas of finance, helping students develop the financial analysis and planning skills needed to be effective in various business environments.
In this program, you’ll learn how to:
Assess financial strategies and practices used to manage financial instruments, portfolios, and capital flows
Evaluate aspects of financial planning used to grow, manage, and protect wealth
Analyze financial data used in financial accounting, planning, management, and decision making
Appraise the use of financial tools and technology used to deliver financial services, analyze data, promote competitive advantage, and improve performance
To earn this degree, you are required to complete 120 credits through courses in general education, core and elective subjects. The length for this program is four years.
How can University of Phoenix support me in pursuing my career goals?
Students and graduates can access our Career Navigator tools, which can help you evaluate career options, track career-relevant skills and discover job postings suited to your needs. From resumé building and interview preparation to networking and mentorship, University of Phoenix offers career services for life to all students and graduates. Dive deeper into our career services, resources and tools to find out how we can help you reach your goals.
