Financial Consultant

Career Area: Finance

Occupation Group: Investment Specialists

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Financial Consultant earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $79,352

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $81,111

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Advises clients on financial decisions. Discusses the client's financial objectives, researches and recommends investment options. May be licensed to buy and sell financial products such as stocks and bonds.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

LocationGrowth
North Carolina218+22.6%
Nationwide6033+14.9%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Financial Consultant is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Planning: Working experience with the process of thinking about and organizing the activities required to achieve desired goals.
  • Building Effective Relationships: Building relationships is about your ability to identify and initiate working relationships and to develop and maintain them in a way that is of mutual benefit to both yourself and the other party. Good relationships are the key to getting things done and are essential when your success is dependent on others.
  • Teamwork / Collaboration: Experience working in collaborative efforts with a team to achieve a common goal or to complete a task in the most effective and efficient way.
  • Microsoft Excel: Microsoft Excel is a spreadsheet developed by Microsoft for Windows, macOS, Android and iOS. It features calculation, graphing tools, pivot tables, and a macro programming language called Visual Basic for Applications.

Specialized Skills

These skills are specific to working in this career:

  • Financial Consulting: Working experience suggesting and rendering financial services to clients or organizations based on their financial situations.
  • Wealth Management: Wealth management as an investment-advisory discipline which incorporates financial planning, investment portfolio management and a number of aggregated financial services.
  • Investment Strategy: Working experience designing a set of rules, behaviors or procedures to guide investors' selection of an investment portfolio.
  • Retirement Planning: Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement.
  • Customer Service: Working experience with the provision of service to customers before, during and after a purchase.

Distinguishing Skills

Any Financial Consultant that possesses the following skills will stand out against the competition:

  • Securities: Working experience of Securities. A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction
  • Financial Modeling: Financial modeling is the task of building an abstract representation (a model) of a real world financial situation.
  • Investment Recommendations: Working experience of Investment Recommendations. Investment advice refers to any recommendations regarding an investor's portfolio. Many professionals, including financial planners, bankers and brokers, can provide investors with investment advice that is specific to their financial situation and short- and long-term financial goals.
  • Capital Markets: A capital market is a financial market in which long-term debt or equity-backed securities are bought and sold.
  • Asset Consolidation: To consolidate is to combine assets, liabilities and other financial items of two or more entities into one.

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

  • Insurance Sales:
  • Insurance Recommendation: Working experience of Insurance Recommendation, which is the process of suggesting the coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years35%
3 to 5 years49%
6 to 8 years11%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Financial Consultant
  • Financial Consultant - , In
  • Vice President, Financial Consultant
  • Associate Financial Consultant
  • Financial Services Consultant

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