Personal Financial Advisors

5.6/10 job score
AUTOMATION RISK
45%
risk level
POLLING
GROWTH
4.6%
by 2030
WAGES
$89,330
or $42.94 hourly
VOLUME
218,050
as of 2020

What is the risk of automation?

We calculate this occupation to have an automation risk score of 45% (Start worrying)

[More info]
Qualities required for this occupation:
Persuasion
Social Perceptiveness
Assisting and Caring for Others
Negotiation
Originality
Key
very important
quite important
[Show all metrics]

What do you think the risk of automation is?

How likely do you think this occupation will be taken over by robots/AI within the next 20 years?

How quickly is this occupation growing?

The number of 'Personal Financial Advisors' job openings is expected to rise 4.6% by 2030
'Personal Financial Advisors' is expected to be a slow growing occupation in comparison to other occupations.
* Data from the Bureau of Labor Statistics for the period between 2020 and 2030.
Updated projections are due Sep 2022.

What are the median wages for 'Personal Financial Advisors' in the United States?

In 2020 the median annual wage for 'Personal Financial Advisors' was $89,330, or $42.94 hourly
'Personal Financial Advisors' are paid 112.9% higher than the national median wage, which stands at $41,950
* Data from the Bureau of Labor Statistics

How many people are employed in this occupation?

As of 2020 there were 218,050 people employed as Personal Financial Advisors.
This represents around 0.16% of the employed workforce across the United States.

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. May also buy and sell financial assets for clients.

SOC Code: 13-2052.00

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Comments

Leave a comment

Mitch (No chance) says
Just don't see it happening.

Lot of emotional intelligence in planning.

AI will just make planners better.
Jun 12, 2020 at 01:17 AM
Max (Small chance) says
People raised in an age of recession prefer to bank in person because they are comforted by seeing the place their paycheck and deposits go each week.
Jan 19, 2020 at 12:44 AM
Core (Highly likely) says
Financial robots have been used in companies for a long while. The analysis of personal data and big data will be the doorway for robots to enter personal finance.
Nov 25, 2019 at 02:02 AM
AI Robot (Highly likely) says
I'm coming for your jobs Financial Planners. Learning fast. Give me 10 years.
Nov 22, 2019 at 05:45 AM
Mr. Planner says
Can a robot provide life planning or financial therapy? Doubtful. Keep trying, bud.
Jun 12, 2020 at 01:16 AM
Will says
Sounds like you guys are financial advisors. lol
Aug 28, 2019 at 07:49 PM
Mr. Planner says
Sounds like you are in need of genuine planning.

All the best,
Mr. Planner.
Oct 22, 2019 at 08:15 PM
Mr. Planner says
Genuine financial planning has so much overlap with therapy. Helping people make the most of their lives with the money they have, is the job. This site needs to seriously reevaluate this ranking.

All the best,
Mr. Planner.
May 09, 2019 at 05:34 PM
Jim (No chance) says
My financial planner coaches me on life steps and how that will impact my money. These so called Robo advisors just shoot out a boring allocation like a target date fund.
Apr 13, 2019 at 07:48 AM
Some Financial Advisor (Small chance) says
The markets are unpredictable, and require insight into human nature to understand - something that computers lack.
Apr 11, 2019 at 02:53 PM
Amber (Could go either way) says
Personal financial planners must provide customized plans that fulfil personal needs. The process involves engaging and inspiring and educating the may not be easily replaced by robots or preprogrammed systems.
Apr 10, 2019 at 02:45 AM
Gary the Investor says
How can financial planning be automated when it is about building relationships and connecting with people? It'll be a dark day in hell when I have to review my portfolio with a robot. Risk of automation is 0% in my book.
Apr 06, 2019 at 05:11 AM
Riley says
Real financial planning requires a high degree of emotional competence and coaching. Financial planning is far beyond the numbers. One of the biggest value-adds of developing a long-term relationship with a financial planner is setting goals, learning about your values, and defining the life you want to live. These are responsibilites that cannot simply be automated. Just take a look at people's current financial situation across the US and the world. Everyone knows they should be saving more, yet few do. A financial planner is an accountability partner and coach. I do not see this ever being automated.
Mar 29, 2019 at 09:18 PM
John says
Totally agree with the above
Mar 30, 2019 at 04:52 AM

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