Financial advisors

NOC

11102

counsel individuals on financial decisions such as investments, cash management, and estate planning. They establish personal financial plans according to clients' objectives.

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Full NOC Description

Financial advisors counsel individuals on financial decisions such as investments, cash management, and estate planning. They establish personal financial plans according to clients' objectives and guide them through the implementation of the proposed strategies that may be adjusted as the situation evolve. They are employed by banks, trust companies and investment firms, or they may be self-employed.

Main Duties

This group performs some or all of the following duties:

Develop personal financial plans for clients covering cash management, finances, insurance coverage, investments, retirement and estate planning, taxes and legal matters

Analyze clients' financial records, set goals and develop a financial strategy

Advise clients on implementing the financial plan to help them achieve their goals

May also arrange for the purchase and sale of financial products and investments depending on the licence held, and monitor the portfolio to ensure its quality and profitability

May help to expand business and attract new clients.

Also Known As

account manager
financial advisor
financial consultant
financial planner
financial security advisor

personal finance advisor

personal investment advisor

Requirements

Employment Requirements

A bachelor's degree in business administration, commerce, economics or a related field is usually required.

The designation Certified Financial Planner, awarded by the Financial Planners Standards Council of Canada, may be required.

To sell regulated financial products and investments, such as annuities, RRSPs and life insurance, a licence is required from the appropriate governing body.

Certification as a Financial Planner is required in Quebec.

Various training programs and courses are offered by financial institutes and organizations, such as the Canadian Securities Institute, Institute of Canadian Bankers, CFA Institute, Investment Funds Institute, Canadian Institute of Financial Planning, and Trust Companies Institute of Canada, and may be required by employers.

Provincial Regulation

Not Provincially Regulated

Employment by Sex

The following graph shows the percentage of men and women working in this occupation in New Brunswick.

Data legend

41.8%

Female

58.2%

Male

Employment by age

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by age group.

Data legend

3.4%

15-24

23.5%

25-34

31.0%

35-44

23.8%

45-54

12.9%

55-64

5.4%

65+

Employment by highest level of education

The following graph shows the breakdown of all persons working in this occupation in New Brunswick by highest level of education achieved.

Data legend

0.3%

No Certificate, Diploma or Degree

17.0%

High School, Diploma or Equivalent

3.1%

Apprenticeship or Trades Certificate or Diploma

27.2%

College or University Below Bachelor Level

52.4%

University - Bachelor Level or Above

Employment by Industry

The following graph shows the industry groups in which the largest shares of persons working in this occupation in New Brunswick are employed. Small percentages for all top three industry groups may suggest employment for this occupation is widely distributed amongst many industry groups.

Data legend

86.1%

Finance and insurance

3.7%

Professional, scientific and technical services

3.1%

Public administration

7.1%

All Other Industries

Employment by Economic Regions

The following graph shows the breakdown of all persons employed in this occupation in New Brunswick by which economic region they reside in.

Data legend

9.90%

Northeast

45.20%

Southeast

19.40%

Southwest

19.00%

Central

6.50%

Northwest

Economic Regions

The following map displays New Brunswick’s five economic regions. An economic region (ER) is a grouping of counties, created as a standard unit for analysis of regional economic activity across Canada.

Annual Average Salary by Economic Regions

The following graph shows the average salary of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Data legend

$84,000

Northeast

$91,600

Southeast

$153,000

Southwest

$127,000

Central

$104,000

Northwest

Economic Regions

Hourly Median Wages by Economic Regions

The following represents the median hourly wage of all persons employed in this occupation in each of New Brunswick’s five economic regions.

Salary

The following shows the average salary of everyone who worked full-time and year-round in this occupation across each of the Atlantic Provinces and nationally.

Employment Outlook

The following represents the number of job openings that are expected to occur in this occupation over the next three and ten years respectively, broken down by openings expected to result from growth (“new jobs”) and openings expected to result from attrition (death and retirements).

Occupational Profiles