CompGeo Salary Survey Benchmark Job Summary and Competencies

Personal Financial Advisors

The Benchmark Job Description below represents the specific Position Characteristics of the job used in the Salary Survey. Benchmark Job Descriptions should be inspected carefully to review the degree of matching between an organizations' Job and the Salary Survey Benchmark. Matching internal Jobs to Salary Survey Benchmark Jobs should not be done on Job Title alone. A thorough comparison of Salary Survey Benchmark to Internal Job Descriptions is recommended. A good overlap should exist on any comparisons used on critical Job Dimensions and Competencies.
CompGeo Occupation Group: Finance
Job Family: Financial Analysis
Benchmark Title: Personal Financial Advisors
Summary Job Description Tasks
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. Sell financial products such as stocks, bonds, mutual funds, and insurance if licensed to do so.
Build and maintain client bases, keeping current client plans up-to-date and recruiting new clients on an ongoing basis.
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.
Review clients' accounts and plans regularly to determine whether life changes, economic changes, or financial performance indicate a need for plan reassessment.
Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, and other information needed to develop a financial plan.
Recommend strategies clients can use to achieve their financial goals and objectives, including specific recommendations in such areas as cash management, insurance coverage, and investment planning.
Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
Research and investigate available investment opportunities to determine whether they fit into financial plans.
Explain and document for clients the types of services that are to be provided, and the responsibilities to be taken by the personal financial advisor.
Monitor financial market trends to ensure that plans are effective, and to identify any necessary updates.
Prepare and interpret for clients information such as investment performance reports, financial document summaries, and income projections.
Guide clients in the gathering of information such as bank account records, income tax returns, life and disability insurance records, pension plan information, and wills.
Contact clients periodically to determine if there have been changes in their financial status.
Meet with clients' other advisors, including attorneys, accountants, trust officers, and investment bankers, to fully understand clients' financial goals and circumstances.
Devise debt liquidation plans that include payoff priorities and timelines.
Open accounts for clients, and disburse funds from account to creditors as agents for clients.
Conduct seminars and workshops on financial planning topics such as retirement planning, estate planning, and the evaluation of severance packages.
Determine amounts of aid to be granted to students, considering such factors as funds available, extent of demand, and financial needs.
Explain to individuals and groups the details of financial assistance available to college and university students, such as loans, grants, and scholarships.
Collect information from students to determine their eligibility for specific financial aid programs.
CompGeo Occupation Group: Finance
Job Family: Financial Analysis
Benchmark Title: Personal Financial Advisors
Important Knowledge Competencies Competency Description
Customer and Personal Service Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
Sales and Marketing Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
Economics and Accounting Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
English Language Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
Mathematics Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
Computers and Electronics Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
CompGeo Occupation Group: Finance
Job Family: Financial Analysis
Benchmark Title: Personal Financial Advisors
Important Skill Competencies Competency Description
Speaking Talking to others to convey information effectively.
Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Reading Comprehension Understanding written sentences and paragraphs in work related documents.
Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Writing Communicating effectively in writing as appropriate for the needs of the audience.
Judgment and Decision Making Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Social Perceptiveness Being aware of others' reactions and understanding why they react as they do.
Service Orientation Actively looking for ways to help people.
Complex Problem Solving Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
Persuasion Persuading others to change their minds or behavior.
Active Learning Understanding the implications of new information for both current and future problem-solving and decision-making.
Mathematics Using mathematics to solve problems.
Coordination Adjusting actions in relation to others' actions.
Time Management Managing one's own time and the time of others.
Systems Evaluation Identifying measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.
Monitoring Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
Operations Analysis Analyzing needs and product requirements to create a design.
Systems Analysis Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
Negotiation Bringing others together and trying to reconcile differences.
CompGeo Occupation Group: Finance
Job Family: Financial Analysis
Benchmark Title: Personal Financial Advisors
Important Ability Competencies Competency Description
Oral Comprehension The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression The ability to communicate information and ideas in speaking so others will understand.
Written Comprehension The ability to read and understand information and ideas presented in writing.
Written Expression The ability to communicate information and ideas in writing so others will understand.
Problem Sensitivity The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
Inductive Reasoning The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
Speech Clarity The ability to speak clearly so others can understand you.
Deductive Reasoning The ability to apply general rules to specific problems to produce answers that make sense.
Number Facility The ability to add, subtract, multiply, or divide quickly and correctly.
Speech Recognition The ability to identify and understand the speech of another person.
Mathematical Reasoning The ability to choose the right mathematical methods or formulas to solve a problem.
Near Vision The ability to see details at close range (within a few feet of the observer).
Category Flexibility The ability to generate or use different sets of rules for combining or grouping things in different ways.
Information Ordering The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
Fluency of Ideas The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
Originality The ability to come up with unusual or clever ideas about a given topic or situation, or to develop creative ways to solve a problem.
Selective Attention The ability to concentrate on a task over a period of time without being distracted.
Flexibility of Closure The ability to identify or detect a known pattern (a figure, object, word, or sound) that is hidden in other distracting material.
CompGeo Occupation Group: Finance
Job Family: Financial Analysis
Benchmark Title: Personal Financial Advisors
Tools/Technology Example Product Category
ACT! ACT4Advisors Customer relationship management CRM software
ASI Client Acquisition Solution Financial analysis software
Advent Axys Financial analysis software
AdviceAmerica AdvisorVision Financial analysis software
Advisory World ICE Financial analysis software
Asset allocation software Financial analysis software
Automatic Data Processing ProxyEdge Word processing software
Brentmark Stock Option Risk Analyzer Financial analysis software
CRM Software Junxure Customer relationship management CRM software
CRM Software Junxure-i Customer relationship management CRM software
Cabinet NG CNG-SAFE Document management software
Cheshire Financial Planning Suite Financial analysis software
ComplianceMAX software Compliance software
Corel QuattroPro Spreadsheet software
Cygnus IncomeMax Financial analysis software
DataViz Beyond Contacts Customer relationship management CRM software
EISI NaviPlan Financial analysis software
EZ-Data Client Data System Customer relationship management CRM software
Education planning software Financial analysis software
Estate Capitol Needs Analysis Financial analysis software
Estate planning software Financial analysis software
ExpenseWatch software Financial analysis software
Finance Logix Education Planner Financial analysis software
Finance Logix Insurance Planner Financial analysis software
Finance Logix Retirement Planner Financial analysis software
Financeware AASim Financial analysis software
Financeware Finance File Manager Document management software
Financeware WealthSimulator Financial analysis software
Financial Planning Consultants Practice Builder Customer relationship management CRM software
Financial Profiles Profiles+ Professional Financial analysis software
Financial planning presentation software Presentation software
Financial planning software Financial analysis software
Financial report generation software Word processing software
Getting Things Done GTD software Customer relationship management CRM software
Host Analytics Host Budget Financial analysis software
IAS software Customer relationship management CRM software
IBM Lotus 1-2-3 Spreadsheet software
IMPACT Wealth Distribution Analysis Financial analysis software
Ibbotson Analyst Financial analysis software
Ibbotson Portfolio Strategist Financial analysis software
Impact PlanLabX3 Financial analysis software
Intuit Quicken software Financial analysis software
Investigo software Customer relationship management CRM software
Investment Scorecard software Financial analysis software
Investment and business valuation template software Financial analysis software
Investment tracking software Financial analysis software
J&L Financial Planner Financial analysis software
MasterPlan software Financial analysis software
Microsoft Business Contact Manager Customer relationship management CRM software
Microsoft Excel Spreadsheet software
Microsoft Money Financial analysis software
Microsoft PowerPoint Presentation software
Microsoft Word Word processing software
MoneyTree Silver Financial Planner (financial analysis feature) Financial analysis software
MoneyTree Silver Financial Planner (presentation feature) Presentation software
Monte Carlo software Analytical or scientific software
Morningstar Principia Financial analysis software
Needs analysis software Financial analysis software
Net Worth Strategies Stock Opter Pro Financial analysis software
OmniPlanner software Financial analysis software
Optima IAS Financial analysis software
PIE Technologies MoneyGuidePro Financial analysis software
Pimlico Software DateBk Calendar and scheduling software
PlanPlus Pro Financial analysis software
PlanScan Portfolio Pathfinder Financial analysis software
Portfolio management software Financial analysis software
Practice management software PMS Data base user interface and query software
ProTracker Advantage Customer relationship management CRM software
Redtail Technology Our Business Online Customer relationship management CRM software
Retirement planning software Financial analysis software
Sawhney ExecPlan Financial analysis software
ScanSoft PaperPort Pro Document management software
ScenarioNow RetireNow Financial analysis software
SunGard Frontier Financial analysis software
SunGard LockBox Document management software
SunGard PlanningStation Financial analysis software
SunGard WebPlaid Financial analysis software
Tax planning software Financial analysis software
Thomson ONE Advisor Financial analysis software
Torrid Retirement Planner Financial analysis software
Unger Software Methusaleh Financial analysis software
WORLDOX software Document management software
WealthTec AllocationPro Financial analysis software
WealthTec Foundations Financial analysis software
WealthTec WealthMaster Financial analysis software
Web Information Solutions Pocket Informant Customer relationship management CRM software
Web browser software Internet browser software
eMoneyAdvisor AdvisorPlatform Customer relationship management CRM software
10-key calculators Calculators or accessories
Desktop computers Desktop computers
Notebook computers Notebook computers
Personal computers Personal computers
Personal digital assistants PDA Personal digital assistant PDAs or organizers
Tablet computers Tablet computers
CompGeo Occupation Group: Finance
Job Family: Financial Analysis
Benchmark Title: Personal Financial Advisors
Prerequisite Qualification Category Education and Experience Level
Required Level of Education Bachelor's Degree
Related Work Experience Over 2 years, up to and including 4 years
Related Work Experience None
On-the-Job Training Over 6 months, up to and including 1 year
On-Site or In-Plant Training None
CompGeo Occupation Group: Finance
Job Family: Financial Analysis
Benchmark Title: Personal Financial Advisors
Alternate Job Title(s)
Account Executive
Asset Analyst
Asset Manager
Budget Counselor
Certified Financial Planner (CFP)
Chartered Financial Analyst (CFA)
Credit Counselor
Debt Counselor
Estate Planner
Estate Planning Counselor
Finance Consultant
Financial Adviser
Financial Advisor
Financial Agent
Financial Consultant
Financial Coordinator
Financial Counselor
Financial Planner
Financial Retirement Plan Specialist
Fiscal Specialist
Individual Pension Adviser
Individual Pension Consultant
Insurance Adviser
Insurance Consultant
Investment Adviser
Investment Advisor
Investment Consultant
Investment Counselor
Investment Representative
Investments Manager
Money Manager
Pension Adviser
Pension Consultant
Personal Banker
Personal Financial Advisor
Personal Financial Planner
Personal Investment Adviser
Portfolio Manager
Registered Representative
Relationship Manager
Securities Consultant
Securities Counselor
Socially Responsible Investment Adviser
Trustee of Estate
Wealth Management Advisor
CompGeo Occupation Group: Finance
Job Family: Financial Analysis
Benchmark Title: Personal Financial Advisors
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