State medians come from the same OEWS release as the national figures. The cost-of-living column divides each state median by that state's BEA Regional Price Parity, restating pay in national-average dollars so a high-cost state and a low-cost one can be compared directly.
Financial Advisor Salary (2026): Data, Outlook & How to Become One
Personal Financial Advisors earn a median of $105,070 per year ($50.51/hr) (BLS OEWS, May 2025). Employment is projected to grow 9.6% through 2034, with about 24,100 openings a year (BLS EP, 2024–2034). Typical entry-level education: Bachelor's degree.
SOC 13-2052Business and Financial OperationsLast updated August 23, 2026
- Median pay
- $105,070
- Projected growth
- +9.6%
- Openings a year
- 24,100
- Typical education
- Bachelor's
BLS OEWS, May 2025
BLS EP, 2024–2034
BLS EP, 2024–2034
BLS EP, 2024–2034
Also advertised as: Certified Financial Planner (CFP), Financial Advisor, Financial Consultant, Financial Counselor, Financial Life Planner, Financial Planner.
How much do Personal Financial Advisors make?
10th percentile$50,190
Entry / lowest-paid tenth
25th percentile$72,440
Lower quartile
Median (50th)$105,070
Half earn more, half earn less
75th percentile$176,790
Upper quartile
90th percentile$357,020
Top-paid tenth
| Median annual wage | $105,070 |
|---|---|
| Median hourly wage | $50.51/hr |
| Mean annual wage | $156,670 |
| People employed | 266,800 |
Versus all US occupations
At $105,070, Personal Financial Advisors earn 106% above the $50,980 median across all US occupations, a difference of $54,090 a year.
Versus business and financial operations occupations
Inside the Business and Financial Operations group, where the middle occupation pays $80,730, this is 30% above the group median.
Pay range
The top 10% earn $357,020 or more while the bottom 10% earn $50,190, a gap of 7.1×. That is an unusually wide spread, which usually tracks specialisation, employer type and years of experience.
Rank in the bank
This median pays more than 83% of the 923 occupations in the NueCareer career bank.
Highest-paying state
New York pays the most at $166,400, and still leads at $154,187 once local prices are taken into account.
Which states pay Personal Financial Advisors the most?
| State | Median | COL-adjusted | Employed |
|---|---|---|---|
| New York | $166,400 | $154,187 | 21,550 |
| New Jersey | $158,570 | $145,738 | 9,300 |
| California | $130,330 | $117,711 | 32,200 |
| Connecticut | $129,720 | $125,200 | N/A |
| South Dakota | $128,720 | $145,305 | 620 |
| Massachusetts | $125,670 | $118,829 | N/A |
| Delaware | $125,050 | $125,291 | N/A |
| Oregon | $122,830 | $118,836 | 3,070 |
| Illinois | $120,130 | $120,180 | 9,760 |
| Wisconsin | $119,430 | $126,925 | 5,200 |
Is Financial Advisor a growing career?
Personal Financial Advisors9.6%
All US occupations3.1%
+9.6% projected growth vs 3.1% for all occupations.
Much faster than average
BLS projects employment of Personal Financial Advisors to change 9.6% over 2024–2034, roughly 3.1× the 3.1% projected for all occupations. That is 31,200 more jobs.
Annual openings
About 24,100 openings are projected each year, 7.4% of the 326,000 jobs that existed in 2024. Most come from workers leaving the occupation, not from growth alone.
Many of those openings are expected to result from the need to replace workers who transfer to different occupations or exit the labor force, such as to retire.
The primary driver of employment growth is expected to be the aging population. As large numbers of baby boomers continue to retire, they are likely to seek planning advice from personal financial advisors. Also, longer lifespans will likely lead to longer retirement periods, further increasing demand for financial planning services.
In addition, the replacement of traditional pension plans with individual retirement accounts is expected to continue. Many people used to receive defined pension payments in retirement, but most companies no longer offer these plans. Therefore, individuals must save and invest for their own retirement, increasing the demand for personal financial advisors.
The availability of “robo-advisors,” computer programs that provide automated investment advice based on user inputs, may partially temper demand for personal financial advisors. However, the impact of this technology should be limited as consumers continue turning to human advisors for more complex and specialized investment advice over the projections decade.
How to become a Financial Advisor
There is no single financial advisor license. Three separate regimes apply depending on what you actually do for clients: selling securities requires registration through a FINRA member firm, which means passing the Securities Industry Essentials exam plus a representative-level exam such as the Series 7; charging a fee for investment advice requires registration as an investment adviser representative under state law, usually by passing the Series 65; and the CFP certification from CFP Board is voluntary, with its own education, exam, experience and ethics requirements.
The credential path, step by step
- Pass the Securities Industry Essentials exam75 questions in 1 hour 45 minutes
The SIE is the one step you can take before anyone hires you: it is open to anyone 18 or over, needs no firm sponsorship, and the result stays valid for four years. Passing it signals basic industry knowledge to employers.
- Get hired and sponsored by a FINRA member firm, then pass a representative-level examSeries 7 is 125 items in 3 hours 45 minutes
You must be associated with and sponsored by a member firm to sit any representative-level qualification exam. The Series 7 is the broad one, qualifying you as a general securities representative across essentially all securities products. BLS notes that new advisors then work under senior advisors, and that this on-the-job training usually lasts more than a year.
- Add the state law exam your role requires
Take the Series 63 to register as a broker-dealer agent under state law, or the Series 66 if you will act as both a broker-dealer agent and an investment adviser representative. The Series 66 has the Series 7 as a corequisite.
- Register as an investment adviser representative if you will advise for a fee
This is the separate regime that catches most career-changers by surprise. Your firm files a Form U4 through the CRD to register you with each state where you have a place of business, and most states that register representatives require the Series 65 or an equivalent, plus a fee and a background check. An individual normally has two years after passing the exam to become registered.
- Optionally pursue CFP certification18–24 months typical, per CFP Board
CFP Board's four requirements are: complete financial planning coursework through a CFP Board Registered Program and hold a bachelor's degree in any discipline; pass the CFP exam; complete either 6,000 hours of professional experience related to the financial planning process or 4,000 hours of qualifying apprenticeship experience; and sign the Ethics Declaration and pass a background check. Experience must fall within ten years before and five years after passing the exam.
Exams you have to pass
Securities Industry Essentials Exam (SIE)
An introductory exam covering products and their risks, market structure, regulatory agencies and prohibited practices. 75 questions, 1 hour 45 minutes, passing score 70, $100. It is open to anyone aged 18 or older with no firm association required, and results stay valid for four years. Passing it alone does not qualify you to do securities business; it is a corequisite to a representative-level exam.
Administered by FINRA.
Series 7 – General Securities Representative Exam (Series 7)
The main representative-level exam, qualifying you to solicit, buy and sell essentially all securities products, including stocks and bonds, mutual funds, ETFs, REITs, options, government and municipal securities, direct participation programs and variable contracts. 125 items, 3 hours 45 minutes, passing score 72, $395. You must be associated with and sponsored by a FINRA member firm to sit it, and the SIE is a corequisite.
Administered by FINRA.
Series 63 – Uniform Securities Agent State Law Exam (Series 63)
A NASAA state law exam of 60 questions in 1 hour 15 minutes, taken by broker-dealer agents to satisfy state registration requirements alongside their FINRA representative registration.
Administered by FINRA, on behalf of NASAA.
Series 65 – Uniform Investment Adviser Law Exam (Series 65)
Formally the NASAA Investment Advisers Law Examination, and the usual route to registering as an investment adviser representative. 130 scored questions plus 10 unscored, 180 minutes, and you must answer at least 92 of the 130 scored questions correctly. It covers state laws, rules and ethical obligations as well as general principles of investing. No firm sponsorship is required to sit it.
Administered by FINRA, on behalf of NASAA.
Series 66 – Uniform Combined State Law Exam (Series 66)
Qualifies an individual in two capacities at once, as a representative of both a broker-dealer and an investment adviser. 100 scored questions plus 10 unscored, 150 minutes, passing at 73 of the 100 scored questions. There is no prerequisite, but the Series 7 is a corequisite, so this is the route for people who are already becoming registered representatives.
Administered by FINRA, on behalf of NASAA.
A 170-question multiple-choice exam delivered as two three-hour sessions over one day, mixing stand-alone questions, scenario-based questions and case studies. You must complete the CFP Board Registered Program coursework before sitting it.
Administered by CFP Board.
- Program accreditation
The financial planning coursework for CFP certification must be completed through a CFP Board Registered Program, and must be finished before you can sit the CFP exam. A bachelor's degree or higher in any discipline from an accredited college or university is the second half of the education requirement, and may be completed up to five years after passing the exam.
- How long the training takes
18–24 months for the CFP certification path, on CFP Board's own estimate
CFP Board puts the coursework requirement alone at 12–18 months on average; the FINRA registration path has no fixed program length, and BLS notes that on-the-job training for new advisors usually lasts more than a year
- Continuing education
Required to stay credentialed
All three regimes have their own. FINRA Rule 1240 requires registered persons to complete the Regulatory Element annually by 31 December for each registration they hold, plus their firm's Firm Element training program. Investment adviser representatives registered in a jurisdiction that has adopted NASAA's IAR continuing education model rule are subject to its requirements. CFP professionals must complete 30 hours of continuing education each two-year reporting period, of which 2 hours must be a pre-approved CFP Board Ethics course and 28 hours general; for renewal cycles beginning during or after the first quarter of 2027 this rises to 40 hours, being 2 hours of Ethics and 38 general.
Licensing and state variation
Licensed state by state
The investment advice side is genuinely state-run at the individual level. NASAA is explicit that only states register investment adviser representatives, not the SEC, and that this applies to individuals working for SEC-registered firms as well as state-registered ones. Registration is generally required in states where you have a place of business, though some jurisdictions base it on client numbers instead. Not every state registers individual representatives: New York, for example, does not register them, but state law requires people giving investment advice to demonstrate to the Attorney General's Investor Protection and Securities Bureau that they are qualified, and passing the Series 65 is one way to do so. Most states that do register require the Series 65 or an equivalent, an application, a fee and a background check, with exam waivers available for holders of certain professional designations and for some grandfathered applicants. Firm-level registration is a separate question decided by assets under management rather than by geography. Broker-dealer registration runs through FINRA and is national, not state-by-state, although broker-dealer agents typically also take the Series 63 to satisfy state law.
Who governs the credential
- Financial Industry Regulatory Authority (FINRA) — Registers the individuals who work for broker-dealer firms, writes and administers the qualification exams, and sets the continuing education program those registered people must complete.
- North American Securities Administrators Association (NASAA) — The association of state securities regulators. It owns the Series 63, 65 and 66 state law examinations, which FINRA administers on its behalf, and writes the model rules that states adopt for investment adviser representative registration and continuing education.
- U.S. Securities and Exchange Commission (SEC) — Registers investment adviser firms above the assets-under-management thresholds. It does not register individuals: there is no federal license for an investment adviser representative.
- Certified Financial Planner Board of Standards (CFP Board) — Owns and awards the CFP certification, a voluntary credential with its own education, exam, experience and ethics requirements.
Credential detail for financial advisors is researched by hand from the bodies that issue it, not derived from BLS or O*NET. Sources last checked August 23, 2026. Requirements change: confirm with your own state board before enrolling in anything.
- U.S. Bureau of Labor Statistics, Occupational Outlook Handbook — Personal Financial Advisors, How to Become One · checked August 23, 2026
- FINRA — Securities Industry Essentials (SIE) Exam · checked August 23, 2026
- FINRA — Series 7 General Securities Representative Exam · checked August 23, 2026
- FINRA — Series 63 Uniform Securities Agent State Law Exam · checked August 23, 2026
- FINRA — Series 65 Uniform Investment Adviser Law Exam · checked August 23, 2026
- FINRA — Series 66 Uniform Combined State Law Exam · checked August 23, 2026
- FINRA — Continuing Education (CE) and FINRA Rule 1240 · checked August 23, 2026
- NASAA — Investment Adviser: FAQs · checked August 23, 2026
- CFP Board — The Certification Process · checked August 23, 2026
- CFP Board — Continuing Education Requirements · checked August 23, 2026
What the federal data says
Personal financial advisors typically need a bachelor’s degree to enter the occupation. A master’s degree and certification may improve chances for advancement.
| Typical entry-level education | Bachelor's degree |
|---|---|
| Preparation needed (O*NET job zone) | Medium preparation |
| Work experience in a related occupation | None |
| Typical on-the-job training | Long-term on-the-job training |
What education people in the job have
O*NET incumbent survey: the highest level of education reported by people already working as personal financial advisors.
- Bachelor's Degree57.7%
- Post-Baccalaureate Certificate23.1%
- Master's Degree11.5%
- Post-Secondary Certificate7.7%
What does a Financial Advisor do?
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. May also buy and sell financial assets for clients.
Personal financial advisors provide advice on investments, insurance, mortgages, estate planning, taxes, and retirement to help individuals manage their finances.
Day-to-day tasks
- Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
- 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, environmental concerns, or financial performance indicate a need for plan reassessment.
- Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
- Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
- Prepare or interpret for clients information, such as investment performance reports, financial document summaries, or income projections.
- Manage client portfolios, keeping client plans up-to-date.
O*NET core tasks, ordered by reported importance.
Working conditions and hours
Most personal financial advisors work full time and some work more than 40 hours per week. They also may go to meetings on evenings and weekends to meet with prospective or existing clients.
Where the work happens
- Indoors, in a climate-controlled space, every day
Physical demands
- Seated for more than half the working day
Autonomy
- A lot of freedom to make decisions without checking first
Schedules: BLS Occupational Outlook Handbook, 2024–2034 edition. Conditions: O*NET Work Context survey, showing only the signals people in the job report decisively one way or the other.
Where personal financial advisors work
| Securities, commodity contracts, and other financial investments and related activities | 60% |
|---|---|
| Credit intermediation and related activities | 15% |
| Professional, scientific, and technical services | 3% |
| Insurance carriers and related activities | 3% |
BLS Occupational Outlook Handbook, 2024–2034 edition.
Core skills
- Reading Comprehension4.1/5
- Active Listening4.1/5
- Speaking4.0/5
- Writing3.9/5
- Critical Thinking3.8/5
- Mathematics3.6/5
- Active Learning3.3/5
- Monitoring3.1/5
Transferable skills
- Social Perceptiveness3.6/5
- Service Orientation3.6/5
- Complex Problem Solving3.6/5
- Judgment and Decision Making3.6/5
- Persuasion3.4/5
- Systems Analysis3.4/5
- Systems Evaluation3.4/5
- Coordination3.0/5
Tools and software
- Customer relationship management CRM software · in demand
- Data base user interface and query software · in demand
- Development environment software · in demand
- Electronic mail software · in demand
- Object or component oriented development software · in demand
- Office suite software · in demand
- Presentation software · in demand
- Project management software · in demand
- Spreadsheet software · in demand
- Word processing software · in demand
- Accounting software
- Analytical or scientific software
“In demand” marks an O*NET Employer-Based Hot Technology, software named in real job postings for this occupation.
What personality type suits a Financial Advisor?
Interest profile: O*NET Occupational Interests, scored 1–7
Realistic1.0
Investigative3.3
Artistic1.7
Socialprimary4.1
Enterprisingprimary5.8
Conventionalprimary5.6
Day to day this is work built around leading, persuading, selling and making decisions, combined with organising, following procedures and working precisely with data.
Closest MBTI types
NueCareer fit scores: cosine similarity between each MBTI type's interest vector and this occupation's O*NET interest profile. Not a BLS or O*NET figure; the method is documented on our methodology page.
Financial Advisor: frequently asked questions
How much do Personal Financial Advisors make?
Personal Financial Advisors earn a median of $105,070 a year (BLS OEWS, May 2025). That is 106% above the $50,980 median for all US occupations. That works out at $50.51/hr. The middle half earn between $72,440 and $176,790. The top 10% earn $357,020 or more.
Do you need a degree to become a Financial Advisor?
Yes. BLS reports a bachelor's degree as the typical entry-level education for Personal Financial Advisors, and O*NET rates the preparation needed as medium preparation. BLS also lists long-term on-the-job training as typical on-the-job training. In O*NET's survey of people already doing the job, 57.7% hold bachelor's degree.
Is Financial Advisor a growing career?
Yes, strongly. Employment is projected to grow 9.6% over 2024–2034, more than double the 3.1% projected for all occupations (BLS EP, 2024–2034). BLS still projects about 24,100 openings a year, mostly from workers retiring or moving to other work.
What does a Financial Advisor do?
Personal financial advisors provide advice on investments, insurance, mortgages, estate planning, taxes, and retirement to help individuals manage their finances. A core O*NET task: interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan. Employers most often ask for Customer relationship management CRM software, Data base user interface and query software, Development environment software.
Which states pay Personal Financial Advisors the most?
The highest state medians for Personal Financial Advisors are New York ($166,400), New Jersey ($158,570), California ($130,330) (BLS OEWS, May 2025).
What personality type suits a Financial Advisor?
O*NET scores Personal Financial Advisors highest on the Enterprising, Conventional and Social interest areas, so the work mixes leading, persuading, selling and making decisions with organising, following procedures and working precisely with data. On NueCareer's MBTI-to-interest mapping the closest types are ESFJ, ESTJ. Personality is a fit signal, not a gate. The free NueCareer quiz scores your own profile against all 923 occupations in the bank.
How long does it take to become a Financial Advisor?
18–24 months for the CFP certification path, on CFP Board's own estimate. CFP Board puts the coursework requirement alone at 12–18 months on average; the FINRA registration path has no fixed program length, and BLS notes that on-the-job training for new advisors usually lasts more than a year.
Do you need a license to work as a Financial Advisor?
Yes, and it is issued by the state you work in, not nationally. The investment advice side is genuinely state-run at the individual level. NASAA is explicit that only states register investment adviser representatives, not the SEC, and that this applies to individuals working for SEC-registered firms as well as state-registered ones. Registration is generally required in states where you have a place of business, though some jurisdictions base it on client numbers instead. Not every state registers individual representatives: New York, for example, does not register them, but state law requires people giving investment advice to demonstrate to the Attorney General's Investor Protection and Securities Bureau that they are qualified, and passing the Series 65 is one way to do so. Most states that do register require the Series 65 or an equivalent, an application, a fee and a background check, with exam waivers available for holders of certain professional designations and for some grandfathered applicants. Firm-level registration is a separate question decided by assets under management rather than by geography. Broker-dealer registration runs through FINRA and is national, not state-by-state, although broker-dealer agents typically also take the Series 63 to satisfy state law.
What exams do you have to pass to become a Financial Advisor?
The SIE (Securities Industry Essentials Exam), the Series 7 (Series 7 – General Securities Representative Exam), the Series 63 (Series 63 – Uniform Securities Agent State Law Exam), the Series 65 (Series 65 – Uniform Investment Adviser Law Exam), the Series 66 (Series 66 – Uniform Combined State Law Exam), the CFP Certification Examination. An introductory exam covering products and their risks, market structure, regulatory agencies and prohibited practices. 75 questions, 1 hour 45 minutes, passing score 70, $100. It is open to anyone aged 18 or older with no firm association required, and results stay valid for four years. Passing it alone does not qualify you to do securities business; it is a corequisite to a representative-level exam.