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What Is a Financial Solutions Advisor?


A financial solutions advisor helps clients, often affluent or high-net-worth investors, build their investment portfolios. These advisors work in a bank or wealth management setting as part of a larger financial services team, though some financial solutions advisors work independently. If you’re interested in this career path, knowing more about how this type of role works is helpful.

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What Is a Financial Solutions Advisor?

A financial solutions advisor works with clients to develop investment strategies and build portfolios. An advisor’s typical client may be a high-net-worth individual, meaning they have $1 million or more in liquid assets. They may also serve mass affluent clients who need help with investing and retirement planning.

Working as a financial solutions advisor means holding one or more FINRA securities licenses. Certain employers may also expect their advisors to obtain other credentials, such as a certified financial planner (CFP) mark or a chartered financial analyst (CFA) designation.

Financial solutions advisors may go by different names, depending on how banks or wealth management firms identify these roles. For example, if you’re searching for financial advisor jobs online, you may see listings for financial relationship consultants, investment consultants or private client advisors.

What Does a Financial Solutions Advisor Do?

A financial solutions advisor primarily focuses on investments and portfolio-building, though it’s also possible that you’ll advise clients on banking products and services, depending on where you’re employed. A typical financial solutions advisor job description might read as follows:

“Candidate will work with high-net-worth clients to identify investment needs and goals, prepare investment recommendations that align with those goals, and foster long-term relationships. Key responsibilities include developing investor profiles for individual clients, providing customized advice, communicating solutions to meet client needs, and building a strong book of business.”

As a financial solutions advisor, you would need to be familiar with the range of products offered by your firm, which may include banking, credit and lending solutions, in addition to investment products. Your daily duties may extend to meeting with existing and prospective clients, either in person or over the phone, utilizing technology solutions to manage advisory and operational tasks and communicating with the other members of your team.

This type of role is typically a full-time position that’s done onsite at a bank or investment firm. However, it may be possible to find virtual or remote financial advisor jobs that would allow you to offer investment solutions to clients independent of location. A normal work week may exceed 40 hours and include working nights or weekends.

Career Outlook and Salary Range for Financial Solutions Advisors

A financial solutions advisor works with a client to develop investment strategies for her portfolio.

The career outlook for financial advisors, including those holding the title of financial solutions advisor, is strong. Demand for personal financial advisors is expected to grow by 13% through 2032, according to the Bureau of Labor Statistics. The median annual salary was $95,390 as of 2022, though it’s possible to earn much more than that if your employer offers bonuses.

Is becoming a financial solutions advisor a desirable choice? It could be, depending on your career objectives.

If you’re interested in working in a banking or wealth management setting, taking a financial solutions advisor role could help you connect with affluent and high-net-worth clients. It may also be easier to work your way up if your employer offers an in-house development program that encourages you to expand your responsibilities and expertise.

That being said, there may be downsides associated with this type of position. For instance, you may find yourself doing more selling than actual advising if the firm you work for is intent on pushing certain products or services. How comfortable you are with this type of position and how much you enjoy the work you’re doing may largely depend on where you’re employed.

How to Become a Financial Solutions Advisor

Generally speaking, you’ll need to have a college degree as a precursor to a career in financial services. For example, you might obtain a bachelor’s degree in mathematics, accounting or business. Some financial solutions advisors hold advanced degrees as well.

You may be able to get hired for this type of role without holding a securities license, but you might be expected to obtain the necessary licensing once you’re employed. The types of licenses you may be expected to hold can include:

  • Series 6, which allows advisors to sell packaged securities.
  • Series 7, which allows advisors to sell nearly every type of security.
  • Series 63, which is required by states to work as an advisor.
  • Series 65, which is a state requirement for fee-based advisors.
  • Series 66, which qualifies advisors as securities agents and investment advisor representatives.

Employers can determine which licenses are necessary, based on the scope of duties you’re expected to carry out. Additional certifications may be required or at least nice to have, as they can expand your knowledge and expertise.

For example, you may be interested in becoming a certified financial planner. To do so, you’ll need to meet educational requirements, obtain a minimum number of professional hours of experience, complete a CFP capstone course and successfully take the CFP exam.

Adding a CFP mark to your professional credentials can give you a competitive edge when seeking jobs and potentially increase your earning potential. It can also help you to build trust with clients and prospects who are looking for a reputable advisor to work with.

Frequently Asked Questions

How Much Does a Financial Solutions Advisor Make?

Salary ranges can vary but it’s possible to earn six-figures annually working as a financial solutions advisor. Your salary may depend on your years of experience, education, securities licensing and other professional designations. Geography can also play a part in determining what type of salary range employers offer.

What Skills Does a Financial Solutions Advisor Need?

Financial solutions advisors can benefit from having a combination of both hard and soft skills. Some of the skills an employer may expect you to have include account management skills, client management skills, relationship development skills, time management skills and communication skills. You may also need to be adept at prospecting and driving referrals to build out your book of business.

Do Remote or Part-Time Financial Advisor Jobs Exist?

Yes, though you may need to do a little more digging to find these opportunities when conducting a job search. Utilizing resources that feature remote work opportunities, such as the CFP Board’s job search tool can make it easier to track down virtual financial planning jobs.

Bottom Line

A financial solutions advisor works with clients who are typically high-net-worth individuals.

Working as a financial solutions advisor has its perks, including the potential for career advancement and a chance to earn a competitive salary. And of course, you’ll be able to help clients work toward their investment goals. Evaluating the pros and cons of this kind of role can help you decide if might make sense for you.

Tips for Growing Your Advisory Business

  • Attracting new clients is one of the biggest challenges financial advisors face particularly if you’re interested in working with high-net-worth clients. Having a well-defined marketing plan can help you become more visible in the places your ideal clients spend time online. That plan might include working with an advisor marketing platform like SmartAdvisor. SmartAsset AMP (Advisor Marketing Platform) is our holistic marketing service financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
  • Obtaining a CFP certification can be an arduous process as you’ll need to earn the required experience hours and prepare for the CFP exam. Taking a CFP study course can help you prepare and increase the likelihood of achieving a passing score. When comparing CFP prep courses, it’s helpful to consider the format of the course, how long it will take to complete and what you’ll pay.

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