Financial advisors
Career Overview
Financial advisors counsel individuals on financial decisions such as investments, cash management and estate planning. They work for banks, trust companies, investment firms or are self-employed.
Job Titles
Duties
In general, financial advisors:
- Analyze clients' financial records, set goals and develop financial strategies
- Develop personal financial plans for clients covering cash management, finances, risk tolerance, investments and retirement
- Monitor clients’ portfolios to ensure quality and profitability align with clients’ goals
- Work with clients on, or refer clients to other specialists for tax and estate planning, insurance and legal matters
- May arrange for the sale of financial products and investments, (subject to necessary licensing)
- May help clients with business planning
- May work to attract new clients
Earnings
Earnings is income that workers receive in exchange for their labour. Depending on the type of employment, earnings can be in the form of wages (hourly), salaries (fixed monthly or annual) or self-employed earnings.
Work Environment
# Workers Employed
Not available% Employed Full Time
Not availableFinancial advisors usually work in a conventional controlled environment such as an office. Some may do hybrid work (office and home).
Career Pathways
Progression to financial management positions is possible with experience. These positions require a high degree of training and qualifications, and workers must continually update their skills and knowledge.
Occupational Interests
It’s important to understand what kinds of occupations align with your interests.
For more about occupational interests visit Skills for the Future Workforce > Characteristics.
Here are the top occupational interest(s) for this career profile:
Education, Training and Skills
Financial advisors usually have a bachelor's degree in business administration, commerce, economics or a related field. Some may enter the field with a business administration diploma and applicable industry experience and training.
They may also need:
- Certified Financial Planner designation
- Additional training programs and courses, as required by employers
Financial planners who sell regulated financial products and investments, such as annuities, registered retirement savings plans (RRSPs) and life insurance must be licensed by the appropriate governing body. Requirements also include ongoing annual education in the areas of compliance and product knowledge.
Education programs in B.C.
Top Skills
Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.
Here, you will find the 10 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.
See the list of work-related skills below, ranked in order of importance for this career. Check out the list and see if this career matches your skills—take that first step!
Labour Market Statistics
Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.
Employment
Find out about employment types and trends by region and industry.
Employment
Not availableEmployment by Region
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Labour Market Outlook
The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.
Forecasted Job Openings ()
Not availableForecasted Job Openings
Forecasted Employment Growth Rate
Composition of Job Openings
Job Openings by Region ()
| Region | Job Openings | Avg. Annual Employment Growth |
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Industry Highlights
Learn about the opportunities in B.C.'s major industries, including employment trends, earning potential, locations of work and more.
Forecasted Job Openings by Industry
Insights from Industry
The need for talented, skilled financial advisors is critical in this time of digital transformation and global change.
Resources
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Association of Women in Finance (AWF)www.womeninfinance.ca
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Canadian Investment Regulatory Organization (CIRO)www.ciro.ca/
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Canadian Securities Institute (CSI)www.csi.ca/student/en_ca/home.xhtml
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FP Canadawww.fpcanada.ca
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The Financial Advisors Association of Canada (Advocis)myadvocis.ca
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Office of the Superintendent of Financial Institutions (OSFI)www.osfi-bsif.gc.ca/en