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Business & Management
Personal Financial Advisor/Financial Analyst
Outlook & Growth
This career is expected to be among the top 10 fastest-growing professions through 2016. Baby boomers approaching retirement will be seeking these services. Banks will be hiring personal financial planners as part of their expansion of services, offering customers investment advice.
Because this is a high-paying and highly competitive career, job-seekers should have an MBA and strong interpersonal skills.
Salary & Wages
In 2006, personal financial advisors and analysts earned an average of $66,590. The middle 50 percent earned $40,340 to $114,260. Personal financial advisors commanded the highest salaries. The top 10 percent earned more than $145,600.
Almost a third of personal financial advisors are self-employed. Unfortunately, as with all small businesses, half of personal advisor businesses fail within the first year.
What is a Personal Financial Advisor or Financial Analyst?
Personal financial advisors and financial analysts gather monetary information, analyze it, and make recommendations to businesses and individuals about investments.
Generally, financial analysts work for businesses, such as investment banks, insurance companies, mutual and pension funds, and securities firms. They are also known as securities analysts or investment analysts. Many work within a regional, industrial or financial specialty.
Personal financial advisors work with individuals. They use their knowledge of investments, tax laws, and insurance to help clients with retirement and estate planning, investing and college funding. Many advisors sell life insurance and securities as a major part of their income.
Excellent opportunity exists for financial advisors in the banking industry. Deregulation of the financial services now allows banks to expand into the securities industry. This opens up new opportunities for advisors.
Education & Degree Path
A bachelor’s degree in business is expected for most financial jobs. Many personal financial advisors and financial analysts also hold master’s degrees in business or MBAs with majors in finance or accounting. Good bachelor's degree majors include finance, banking and accounting.
Licensing: Nearly all personal financial advisors—and some financial analysts, depending on their specialty—hold a license from the Financial Industry Regulatory Authority (FINRA). If you want to become a personal financial advisor, you’ll need to obtain Series 7 and Series 63 or 66 licenses. Doing so will enable you to act as a representative of a securities firm and give financial advice.
A Certified Financial Planner designation is not required, but after three years of experience you can test for it.
To become a financial analyst, you will need to be licensed. However, that is done after you’re employed. When you have four years of experience, you can increase your stature and salary by taking the test to become a Certified Financial Analyst (CFA). Your employer sponsors you to sit for this exam.
Entering the Field: If you have strong math, problem-solving and analytical skills, you may do well in this field. Start by studying business, finance, computers, marketing, and communications.
Good entry jobs include working as a bank clerk, selling insurance, or working as bookkeeper. All these jobs can usually be entered with a certificate or associate degree in business or management.
Because the competition for these jobs is high, you’ll want to earn your bachelor’s degree in business. Eventually, to be eligible for the best jobs and pay grade, you will want to earn your master’s in business administration or finance. If you already hold a bachelor’s degree, but the degree is in a major area other than business, consider earning a master’s in business administration to prep for this new career area.

Find online degrees for Business & Management now. >>

Career Links


Financial Planning Association
Investment Management Consultants Association
American Academy of Financial Management
Securities Industry and Financial Markets Association
Certified Financial Planner Board of Standards, Inc.


Salary and growth data courtesy of the Bureau of Labor Statistics. For more information about financial analyst and personal financial advisor careers, salaries and job prospects visit the Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2008-09 Edition, Financial Analysts and Personal Financial Advisors.
 
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Q I’m looking for an online MBA. I’ve found several that fit my budget but none are accredited by the AACSB. What is the AACSB? Do I really need a distance MBA degree that is accredited by them? —Roberta, Gary, IN
A The AACSB is the Association to Advance Collegiate Schools of Business International. It is considered the gold standard of business school accreditation. But not every student needs an AACSB-accredited MBA...
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Q I was laid off from my job as a real estate agent and want to be a high school math teacher, but my bachelor’s degree is in psychology. Do I need a new degree in education? Will an online bachelor’s in education qualify me to become a licensed teacher? —Willis, Houston, Texas
A If you didn’t earn a bachelor’s degree in education years ago and you now want to teach in the public schools, don’t fret. Every state maintains what are termed “alternative teacher certification” programs...
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Notre Dame College
Notre Dame College offers quality online Master of Education degrees in Mild/Moderate Intervention Specialist (K-12 Ohio), Reading Endorsement, and Technology Endorsement. Classes meet live online one evening a week so that students can take advantage of the convenience of online classes and still interact with the excellent faculty. NDC is fully accredited by the Higher Learning Commission of North Central Association of Colleges and Schools and by the National Council for Accreditation of Teacher Education (NCATE).
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Colorado Technical University Online
CTU's Institute for Advanced Studies is an innovative graduate school that takes advanced learning to a flexible new level, making graduate degrees ACHIEVABLE, PRACTICAL and REALISTIC. Study online, on campus, a combination of the two, days, nights, or weekends...however and wherever you choose. The Doctoral degree programs at CTU IAS include six residencies over 3 years.  These four-day sessions are held on the CTU IAS campus in Colorado Springs every year.
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For active-duty military, reservists, veterans, and military families.
More than half of military students use online education. What do you need to know to find schools that best fit your needs? How can you find the best financial aid and scholarship package at your online school? Answers are here.

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The field of online education is growing and so is the need for teachers who can teach online. Check out our regularly updated list of online job opportunities, post your job availability, and visit our Online Resource Center, with tips, advice and free downloads for online educators.

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Secure your career with an online MBA.

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