Become a Financial Adviser in 2021? Salary, Jobs, Forecast

National Financial Solution > Financial Forecast > Become a Financial Adviser in 2021? Salary, Jobs, Forecast



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Financial advisers advise clients on their financial plans using their knowledge of tax and investment strategies, securities, insurance, pensions, and more. Financial advisers have several responsibilities, including: Recruiting new clients to their firm, Meeting with clients other advisers, which could include family lawyers and accountants, Interviewing clients to determine their risk tolerance and financial goals, Recommending different investment strategies based on the client’s goals, Being available to clients when they have questions or concerns, Manage client portfolios, which include the purchase and sale of stocks, bonds, treasuries, and other assets
Monitoring financial markets and reacting quickly.

In 1999, the Bureau of Labor Statistics recorded $64,680 as the average base salary. By 2019, the average base salary rose to $119,290. Wages grew by $54,610 (or $2,730 yearly) from 1999-2019. The estimated 2021 average base salary would be $119,290, using $2,730 as the average yearly income. If trends were to continue, by 2029, the average base salary would rise to $146,595.

The job market for financial advisers has risen since 1999. In 1999, there were 79,970 employed financial advisers. By 2019, the number of employed financial advisers increased to 210,190. From 1999 – 2019, there was a gain of 105,100 employed financial advisers. In 2019, the Bureau of Labor Statistics predicted a 4% increase in financial advisers. By 2029, they are predicting 218,598 employed financial advisers.

According to the Occupational Information Network (O*NET):

52% have a bachelor’s degree
35% have a bachelor’s degree with a certificate

source

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