Financial Investment Advisers and Managers

ANZSCO ID 2223

Overview

Snapshot

Employed
68,300
Future Growth
10.7%
Weekly Earnings
$2,887
Full-Time Share
84%
Female Share
31%
Average age
42

Summary

Financial Investment Advisers and Managers develop financial plans for individuals and organisations, and invest and manage funds on their behalf.

Tasks

  • interviewing prospective clients to determine financial status and objectives, discussing financial options and developing financial plans and investment strategies

  • monitoring investment performance, and reviewing and revising investment plans based on modified needs and changes in markets

  • recommending and arranging insurance cover for clients

  • arranging to buy and sell stocks and bonds for clients

  • advising on investment strategies, sources of funds and the distribution of earnings

  • setting financial objectives, and developing and implementing strategies for achieving the financial objectives

  • managing funds raised from personal superannuation savings policies and unit trusts

  • assisting in meeting superannuation compliance requirements

  • directing the collection of financial, accounting and investment information and the preparation of budgets, reports, forecasts and statutory returns

  • may refer clients to other organisations to obtain services outlined in financial plans

Characteristics

Job Type
Professionals
Skill Level
Very high skill
ANZSCO Occupation group
Unemployment Rate
Average
Industries
Pathway(s)
  • University
  • Vocational Education and Training (VET)
Interests
  • Administrative
  • Enterprising
Physical Demand
  • Sedentary

Outlook

Employment Outlook

The NSC produces employment projections to show where likely future job opportunities may be. The latest data are for the five years from November 2021 to November 2026. Over this period, the number of workers:

  • is expected to grow strongly
  • is likely to reach 68,800 by 2026.
  • Source: National Skills Commission Employment Projections to 2026.

    Notes: The number employed includes people who work in this occupation as their main job. People who work in more than one job are counted against the occupation they work the most hours in.

    Employment projections figures are rounded to the nearest 100. Calculations based on these rounded figures may result in differences to the numbers that are displayed on this page. Employment projections data (including occupations) can be downloaded from the Employment Projections page.

Projected Change
10.7%
(or 6,700 jobs)
From
62,100
in 2021
To
68,800
in 2026

Number of Workers

Source: ABS Labour Force Survey, ABS seasonally adjusted data to November 2021 and National Skills Commission Employment Projections to 2026.
Year Employment
2011 45,200
2012 44,100
2013 40,900
2014 48,000
2015 54,600
2016 44,500
2017 53,000
2018 47,800
2019 43,800
2020 61,300
2021 62,100
2026 68,800

Source: ABS Labour Force Survey, ABS seasonally adjusted data to November 2021 and National Skills Commission Employment Projections to 2026.


Earnings and hours

Working arrangements

  • Around 84% of people employed as Financial Investment Advisers and Managers work full-time hours, in all their jobs combined. This is 18 percentage points above the all jobs average (66%).

    Full-time workers work an average of 45 hours per week in their main job. This is similar to the all jobs average (44 hours per week).

    More than a third of workers regularly work overtime or extra hours (either paid or unpaid).

    Median full-time earnings are $2,887 per week, this is much higher than the all jobs median ($1,593):

    • 3 in 4 workers earn more than $2,178
    • 1 in 4 earn more than $3,849

    Median hourly earnings are $77, this is much more than the all jobs median ($41 per hour).

    Sources: Full-time share and full-time hours: ABS, 2016 Census, customised report. Compared to the all jobs average. Overtime hours: ABS, Characteristics of Employment, 2021. Full-time median earnings and median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2021. Compared to all jobs median.

Weekly Earnings (Before Tax)

Source: Based on ABS Survey of Employee Earnings and Hours, May 2021, Customised Report. Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed. Earnings can vary greatly depending on the skills and experience of the worker and the demands of the role. These figures should be used as a guide only, not to determine a wage rate.
Earnings Financial Investment Advisers and Managers All Jobs Average
Full-Time Earnings 2,887 1,593
Total Earnings 0 0

Source: Based on ABS Survey of Employee Earnings and Hours, May 2021, Customised Report. Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed. Earnings can vary greatly depending on the skills and experience of the worker and the demands of the role. These figures should be used as a guide only, not to determine a wage rate.


Industries

Main industries

1
Financial and Insurance Services
78.8%
2
Professional, Scientific and Technical Services
9.7%
3
Rental, Hiring and Real Estate Services
4.4%
4
Public Administration and Safety
1.6%
5
Other industries
5.5%

Regions

Employment across Australia

NSW

37.5% All occupations: 31.6%

VIC

28.7% All occupations: 25.6%

QLD

16.5% All occupations: 20.0%

SA

5.9% All occupations: 7.0%

WA

8.4% All occupations: 10.8%

TAS

1.3% All occupations: 2.0%

NT

0.3% All occupations: 1.0%

ACT

1.4% All occupations: 1.9%

Employment by State and Territory (% Share)

State Financial Investment Advisers and Managers All Jobs Average
NSW 37.5 31.6
VIC 28.7 25.6
QLD 16.5 20.0
SA 5.9 7.0
WA 8.4 10.8
TAS 1.3 2.0
NT 0.3 1.0
ACT 1.4 1.9


  • Around 78% of Financial Investment Advisers and Managers live in capital cities, compared with the all jobs average of 62%.

    New South Wales and Victoria have a large share of employment relative to their population size.

    Source: Based on ABS Census 2016, Customised Report. Share of workers across Australian states, territories and regions, in this job compared to the all jobs average.


Worker profile

Age and gender

Age In Years
42
All Jobs Average is 40
Female Share
31%
All Jobs Average is 48%
  • The median age of Financial Investment Advisers and Managers is 42 years. This is similar to the all jobs average of 40 years.

    A large share of workers are aged 35 to 44 years.

    Females make up 31% of the workforce. This is 17 percentage points below the all jobs average of 48%.

    Source: Based on ABS Census 2016, Customised Report. Age profile and gender share compared to the all jobs average.

Age Profile (% Share)

Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Age Bracket Financial Investment Advisers and Managers All Jobs Average
15-19 0.1 5.0
20-24 3.8 9.3
25-34 24.3 22.9
35-44 28.7 22.0
45-54 23.0 21.6
55-59 8.2 9.0
60-64 5.5 6.0
65 and Over 6.3 4.2
Median Age 42 40

Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.


Employment Pathways

Education, training and experience

A formal qualification in finance, accounting, commerce or economics is usually needed to work as a Financial Investment Adviser or Manager. Vocational Education and Training (VET) and university are both common study pathways.

Registration with the Australian Security and Investments Commission is required.

Visit

  • Course Seeker to search and compare higher education courses.
  • ComparED to compare undergraduate and postgraduate student experiences and outcomes.
  • My Skills to compare Vocational Education and Training (VET) courses, providers and student outcomes.
  • AAPathways website to explore Financial Services VET training pathways.

Highest Level of Education (% Share)

Source: ABS Census 2016, Customised Report. Highest qualification completed by workers in this job (in any field of study). Qualifications needed by new workers might be different from the qualifications of workers already in the job.
Type of Qualification Financial Investment Advisers and Managers All Jobs Average
Post Graduate/Graduate Diploma or Graduate Certificate 21.8 10.1
Bachelor degree 42.4 21.8
Advanced Diploma/Diploma 23.9 11.6
Certificate III/IV 2.7 21.1
Year 12 6.8 18.1
Year 11 0.9 4.8
Year 10 and below 1.4 12.5

Source: ABS Census 2016, Customised Report. Highest qualification completed by workers in this job (in any field of study). Qualifications needed by new workers might be different from the qualifications of workers already in the job.


Skills and Knowledge

Employers look for Financial Investment Advisers and Managers who can communicate clearly, work well in a team and have strong interpersonal skills.

Skills

Skills can be improved through training or experience.

  • 61%

    Reading comprehension

    Reading work related information.

  • 59%

    Speaking

    Talking to others.

  • 57%

    Active listening

    Listening to others, not interrupting, and asking good questions.

  • 57%

    Critical thinking

    Thinking about the pros and cons of different ways to solve a problem.

  • 57%

    Monitoring

    Keeping track of how well work is progressing so you can make changes or improvements.

  • 55%

    Writing

    Writing things for co-workers or customers.

  • 54%

    Judgment and decision making

    Figuring out the pros and cons of different options and choosing the best one.

  • 54%

    Serving others

    Looking for ways to help people.

  • 54%

    Mathematics

    Using maths to solve problems.

  • 52%

    Persuasion

    Talking people into changing their minds or their behaviour.

  • 50%

    Complex problem solving

    Noticing a problem and figuring out the best way to solve it.

  • 48%

    Active learning

    Being able to use what you have learnt to solve problems now and again in the future.

  • 48%

    Social perceptiveness

    Understanding why people react the way they do.

  • 48%

    Systems analysis

    Figuring out how a system should work and how changes in conditions, operations, and the environment will affect it.

  • 48%

    Systems evaluation

    Measuring how well a system is working and how to improve it.

  • 46%

    Management of financial resources

    Figuring out how money is needed to do something, and keeping track of the money that's being spent.

  • 45%

    Instructing

    Teaching people how to do something.

  • 45%

    Operations analysis

    Understanding needs and product requirements to create a design.

  • 41%

    Coordination with others

    Being adaptable and coordinating work with other people.

  • 41%

    Time management

    Managing your own and other peoples' time to get work done.


Knowledge

These are important topics, subjects or knowledge areas.

  • 73%

    Customer and personal service

    Understanding customer needs, providing good quality service, and measuring customer satisfaction.

  • 69%

    Economics and accounting

    Economics and accounting, the financial markets, banking and checking and reporting of financial data.

  • 67%

    Mathematics

    Arithmetic, algebra, geometry, calculus, or statistics.

  • 67%

    Sales and marketing

    Showing, promoting, and selling including marketing strategy, product demonstration, sales techniques, and sales control systems.

  • 63%

    Administration and management

    Business principles involved in strategic planning, leadership, and coordinating people and resources.

  • 63%

    Clerical

    Word processing, managing files and records, stenography and transcription, designing forms, and other office work.

  • 61%

    Education and training

    Curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

  • 60%

    English language

    English language including the meaning and spelling of words, rules of composition, and grammar.

  • 59%

    Computers and electronics

    Circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

  • 54%

    Psychology

    Human behaviour; differences in ability, personality, and interests; learning and motivation; research methods; assessing and treating disorders.

  • 54%

    Law and government

    How our laws and courts work. Government rules and regulations, and the political system.

  • 51%

    Personnel and human resources

    Recruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.

  • 42%

    Therapy and counselling

    Diagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and career counselling and guidance.

  • 36%

    Communications and media

    Media production, communication, and dissemination. Includes written, spoken, and visual media.

  • 35%

    Philosophy and theology

    Philosophical systems and religions, including their basic principles, values, ethics, ways of thinking, customs, practices, and impact on society.

  • 34%

    Production and processing

    Raw materials, production processes, quality control, costs, and ways of making and distributing goods.

  • 33%

    Sociology and anthropology

    Group behaviour and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins.

  • 24%

    History and archeology

    Events of the past, their causes, how we learn about them, and how they influence the way we live today.

  • 21%

    Telecommunications

    Transmission, broadcasting, switching, control, and operation of telecommunications systems.

  • 20%

    Public safety and security

    Use of equipment, rules and ideas to protect people, data, property, and institutions.


Abilities

Workers use these physical and mental abilities..

  • 66%

    Oral expression

    Communicate by speaking.

  • 64%

    Deductive reasoning

    Use general rules to find answers or solve problems logically.

  • 64%

    Working with numbers

    Add, subtract, multiply, or divide.

  • 61%

    Written expression

    Write in a way that people can understand.

  • 59%

    Oral comprehension

    Listen to and understand what people say.

  • 59%

    Written comprehension

    Read and understand written information.

  • 59%

    Near vision

    See details that are up-close (within a few feet).

  • 57%

    Problem spotting

    Notice when something is wrong or is likely to go wrong, even if you can't solve the problem.

  • 55%

    Inductive reasoning

    Use lots of detailed information to come up with answers or make general rules.

  • 55%

    Speech recognition

    Identify and understand the speech of another person.

  • 54%

    Mathematics

    Choose the right maths method or formula to solve a problem.

  • 52%

    Speech clarity

    Speak clearly so others can understand you.

  • 48%

    Brainstorming

    Come up with a number of ideas about a topic, even if the ideas aren't very good.

  • 46%

    Categorising

    Come up with different ways of grouping things.

  • 46%

    Sorting or ordering

    Order or arrange things in a pattern or sequence (e.g., numbers, letters, words, pictures, mathematical operations).

  • 43%

    Originality

    Come up with unusual or clever ideas, or creative ways to solve a problem.

  • 37%

    Perceptual speed

    Use your eyes to quickly compare groups of letters, numbers, pictures, or other things.

  • 36%

    Flexibility of closure

    See a pattern (a figure, object, word, or sound) hidden in other distracting material.

  • 36%

    Selective attention

    Pay attention to something without being distracted.

  • 36%

    Speed of recognition

    Quickly make sense of and organize things you can see like letters, numbers, pictures, or other things.


Activities

These are kinds of activities workers regularly do in this job.

  • 85%

    Making decisions and solving problems

    Using information to work out the best solution and solve problems.

  • 79%

    Making sense of information and ideas

    Looking at, working with, and understanding data or information.

  • 78%

    Coming up with systems and processes

    Deciding on goals and figuring out what you need to do to achieve them.

  • 75%

    Building good relationships

    Building good working relationships and keeping them over time.

  • 75%

    Keeping your knowledge up-to-date

    Keeping up-to-date with technology and new ideas.

  • 74%

    Planning and prioritising work

    Deciding on goals and putting together a detailed plan to get the work done.

  • 73%

    Researching and investigating

    Looking for, getting and understanding different kinds of information.

  • 72%

    Checking compliance with standards

    Deciding whether events or processes comply with laws, regulations, or standards.

  • 72%

    Giving expert advice

    Providing guidance and expert advice to management or other groups.

  • 70%

    Collecting and organising information

    Compiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.

  • 70%

    Communicating with the public

    Giving information to the public, business or government by telephone, in writing, or in person.

  • 68%

    Looking for changes over time

    Comparing objects, actions, or events. Looking for differences between them or changes over time.

  • 64%

    Thinking creatively

    Using your own ideas for developing, designing, or creating something new.

  • 64%

    Communicating within a team

    Giving information to co-workers by telephone, in writing, or in person.

  • 64%

    Influencing people

    Convincing people to buy something or to change their minds or actions.

  • 61%

    Assessing and evaluating things

    Working out the value, importance, or quality of things, services or people.

  • 61%

    Working with the public

    Greeting or serving customers, clients or guests, and public speaking or performing.

  • 58%

    Explaining things to people

    Helping people to understand and use information.

  • 50%

    Working with computers

    Using computers to program, write software, set up functions, enter data, or process information.

  • 50%

    Documenting or recording information

    Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.


Interests and demands

Learn about the daily activities, and physical and social demands faced by workers. Explore the values and work styles that workers rate as most important.

Interests

Interests are the style or type of work we prefer to do. All interest areas are shown below.

  • 95%

    Enterprising

    Starting up and carrying out projects. Leading people and making many decisions. Sometimes require risk taking and often deal with business.

  • 81%

    Administrative

    Following set procedures and routines. Working with numbers and details more than with ideas, usually following rules.

  • 52%

    Helping

    Working with people. Helping or providing service to others.

  • 43%

    Analytical

    Ideas and thinking. Searching for facts and figuring out problems in your head.

  • 19%

    Creative

    Working with forms, designs and patterns. Often need self-expression and can be done without following rules.

  • 14%

    Practical

    Practical, hands-on work. Often with plants and animals, or materials like wood, tools, and machinery.


Values

Work values are important to a person’s feeling of satisfaction. All six values are shown below.
  • 76%

    Independence

    Work alone and make decisions. Workers are able to try out their own ideas, make decisions on their own, and work with little or no supervision.

  • 71%

    Achievement

    Results oriented. Workers are able to use their strongest abilities, giving them a feeling of accomplishment.

  • 67%

    Recognition

    Advancement and the potential to lead. Workers are recognised for the work that they do, they may give directions and instructions to others, and they are looked up to in their company and their community.

  • 67%

    Working conditions

    Job security and good working conditions. There is usually a steady flow of interesting work, and the pay and conditions are generally good.

  • 62%

    Relationships

    Serve and work with others. Workers usually get along well with each other, do things to help other people, and are rarely pressured to do things that go against their sense of right and wrong.

  • 52%

    Support

    Supportive management that stands behind employees. Workers are treated fairly by their company, they are supported by management, and have supervisors who train them well.


Demands

The physical and social demands that workers face most often are shown below:
  • 95%

    Electronic mail

    Use electronic mail.

  • 95%

    Indoors, heat controlled

    Work indoors with access to heating or cooling.

  • 93%

    Telephone

    Talk on the telephone.

  • 91%

    Spend time sitting

    Spend time sitting at work.

  • 88%

    Contact with people

    Have contact with people by telephone, face-to-face, or any other way.

  • 86%

    Being exact or accurate

    Be very exact or highly accurate.

  • 86%

    Frequent decision making

    Frequently make decisions that impact other people.

  • 85%

    Face-to-face discussions

    Talk with people face-to-face.

  • 83%

    Impact of decisions

    Make decisions that have a large impact on other people.

  • 82%

    Competition

    Compete with others, or be aware of competitive pressures.

  • 80%

    Contact with the public

    Work with customers or the public.

  • 79%

    Time pressure

    Work to strict deadlines.

  • 78%

    Unstructured work

    Have freedom to decide on tasks, priorities, and goals.

  • 76%

    Freedom to make decisions

    Have freedom to make decision on your own.

  • 76%

    Letters and memos

    Write letters and memos.

  • 74%

    Teamwork

    Work with people in a group or team.

  • 65%

    Repeating same tasks

    Repeat the same tasks or activities (e.g., key entry) over and over, without stopping.

  • 65%

    Lead or coordinate a team

    Lead others to do work activities.

  • 65%

    Responsible for outcomes

    Take responsibility for the results of other people's work.

  • 63%

    Consequence of error

    Work where mistakes have serious consequences.

Occupational Information Network
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The skills and importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 13-2052.00 - Personal Financial Advisors.


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