What is a financial advisor, and what is it that they do?
A financial advisor helps individuals manage their money by creating strategies for them, like investing, retirement planning, completing taxes, and more.
The career path of a financial advisor involves getting a bachelor’s degree and earning a license. The bachelor’s degree that they earn is mostly focused on finance, accounting, economics or business. Obtaining a license consists of passing exams like securities industry essentials and series 7/66 for buying or selling securities. After that the advancement typically takes off from junior associate to lead advisor or partner. This sometimes requires something that is called certified financial planner, which mandates for 6,000 hours of experience.
The salary for a financial advisor in the state of Washington is approximately $86,000 to over $115,000 annually. The salary does differ depending on the state or area in the state. Some pros of this job are that you have high earning pay, flexibility, and you can help others. Some cons for this job are its long hours, high stress, and strict regulatory requirements.
Sources:
https://smartasset.com/advisor-resources/financial-planner-career-path
https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm
