Low to No Risk

16

Moderate Risk

1

High Risk

0

Extreme Risk

0

• 2Analyze financial information obtained from clients to determine strategies for meeting clients' financial objectives.
• 1.7Answer clients' questions about the purposes and details of financial plans and strategies.
• 1.5Interview clients to determine their current income, expenses, insurance coverage, tax status, financial objectives, risk tolerance, or other information needed to develop a financial plan.
• 1Implement financial planning recommendations, or refer clients to someone who can assist them with plan implementation.
• 2.1Guide clients in the gathering of information, such as bank account records, income tax returns, life and disability insurance records, pension plans, or wills.
• 2.2Contact clients periodically to determine any changes in their financial status.
• 0.4Meet with clients' other advisors, such as attorneys, accountants, trust officers, or investment bankers, to fully understand clients' financial goals and circumstances.
• 1.4Devise debt liquidation plans that include payoff priorities and timelines.
• 0.5Recommend to clients strategies in cash management, insurance coverage, investment planning, or other areas to help them achieve their financial goals.
• 1.2Review clients' accounts and plans regularly to determine whether life changes, economic changes, environmental concerns, or financial performance indicate a need for plan reassessment.
• 1.8Manage client portfolios, keeping client plans up-to-date.
• 1.5Recruit and maintain client bases.
• 1.5Explain to clients the personal financial advisor's responsibilities and the types of services to be provided.
• 2Investigate available investment opportunities to determine compatibility with client financial plans.
• 2.3Monitor financial market trends to ensure that client plans are responsive.
• 2.4Recommend financial products, such as stocks, bonds, mutual funds, or insurance.

5.9% of Personal Financial Advisors tasks can be automated with AI or robotics