Personal financial advisors help individuals determine the best course of action regarding their money. The U.S. Department of Labor notes that they may assist with investments and help clients achieve financial goals. Personal financial advisors may also provide tax advice and help clients plan for important financial events like retirement.
Why It’s Taking Over: “Financial advisors are in high demand to meet the growing number of aging Americans who are retiring,” says Kristi Merritt, a career search coach at Claim It, a career consulting company. “These retirees have to make their money last for an indefinite amount of time, so they need investment and money management advice.”
Not only that, but the Department of Labor notes that a decrease in corporate and government pension plans will require retirees to take a more active role in planning their financial futures. And this will, in turn, increase the need for personal financial advisors.
Education Options: A bachelor’s degree is usually required for this position. And while no specific field of study is required, the Department lists economics, business, accounting, finance, mathematics, or law as good preparatory majors if you’re considering this career.