How You Can Help People Save Money as a...

How You Can Help People Save Money as a Personal Advisor

by Stephanie Hughes
Jobs People Do | JobsPeopleDo.com

If you have a passion for numbers and for helping people, then there may not be a better career for you than that of a personal advisor. Personal financial advisors are tasked to meet with clients to discuss their personal finances, investment strategies, and otherwise how to manage inflowing and outflowing cash to maintain their client’s financial health and to grow wealth and savings at the same time. They also look into other factors that could impact their clients’ financials like tax status and insurance coverage.

What are the perks of the job?

There are a few perks to this career, such as the stable workplace hours and a career in a field that is often in-demand. Banks and financial institutions are often looking for talent to expand their business and engage with a new client base. If you establish trust with your clients, you can also maintain business with the same group for years. Stability is one major perk, but another decent benefit is the job satisfaction you will receive if you are truly passionate about finance and helping others meet their financial goals. It is also very noble to promote financial literacy amongst people who might not have been effectively taught how to budget and how to save.

What are some of the setbacks?

One setback is the modest median salary that this career can bring in, which is $44,457 (according to PayScale). This comes below the Canadian national average salary of $51,000 (according to Workopolis). However, there are companies that may pay above the national average or provide opportunities for promotion if you perform well in your career. Mid- and late-career advisors can find themselves earning a salary above the national average.

How can I grow with this career?

A personal financial advisor grows their client list and experience through the years that they work in different firms. After years of practice, a personal advisor can grow into more senior advisor roles which can earn them a higher salary and prestige.

That’s all great, but could I be hired for other careers?

Having a strong understanding of finance and being good with people and customer service are two great qualities that will help you succeed in other financial fields. A few other related careers include: account manager, careers in investment, other careers in personal finance, as well as many other wealth or asset management roles. With your knowledge of financial planning and serving the needs of others, you are already in a good position to start your own business than most other people as well.


MyPlan.com, “Personal Financial Advisors”: https://www.myplan.com/careers/personal-financial-advisors/description-13-2052.00.html

PayScale, “Average Personal Financial Advisor Salary”:


Workopolis, “The Average Canadian Salaries by Industry and Region”:


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