Financial Advisors

February 27, 2025Life insurers collect premiums from policyholders and, because their payouts — like death benefits or annuities — often happen years down the line, they have a big pool of cash to invest in the meantime. With trillions in assets under management, insurers invest heavily in state-level projects, from municipal bonds funding schools and highways to… read more…

July 25, 2024Each person’s financial circumstances and goals are unique, just like the advisors who may be able to help them make and execute plans. Naturally, clients and advisors alike may seek specific characteristics, specialties and needs in each other to reach their goals or objectives. Location may be one key preference, with some clients favoring remote… read more…

July 2, 2024Like other professions, financial advisors are affected by many factors, including location, income, client preferences and specific market characteristics. So, where an advisor earns the most can change over time, and even more so as technology allows them to work remotely with a greater number of clients in different markets. With this in mind, SmartAsset… read more…

May 29, 2024Financial advisor income largely depends on the number of clients and their net worth. So as taxes, jobs, cost of living and other factors draw both clients and advisors from one place to another, how much a financial advisor earns in a local area might also change. To determine the latest income and employment trends… read more…

March 12, 2024The total number of CFP® professionals in the U.S. grew by 11.5% over the last three years, with a net of more than 10,000 individuals added to the profession. But this growth was not equally spread across the country, and some demographic trends were more dominant than others. Observing such trends could lend a strategic… read more…

June 6, 2023While the onslaught of artificial intelligence (AI), specifically ChatGPT, has proven to be a sudden and bumpy transition, financial advisors – among many other industries – have eagerly begun trying to fit the technology into their practices. The AI chatbot has the ability to interface with clients and prospects while analyzing data and drafting memos. Still, many… read more…

May 10, 2023If Congress doesn’t opt to raise or extend the nation’s debt limit, the United States may run out of the money needed to pay its bills. With this deadline approaching as early as June 1, SmartAsset asked financial advisors what they think will happen if the U.S. defaults and what they recommend clients do to prepare For… read more…

April 25, 2023When inflation surges and cash loses its purchasing power, retirees’ hard-earned savings suddenly don’t go as far as they expected. Inflation may also lead to widespread salary increases, but retirees typically don’t benefit from wage growth because they’ve already left… read more…

January 12, 2023In 2023, financial advisors are dusting off their blazers, slapping on fresh name tags and marching back to conferences and professional events. The return to air-conditioned conference rooms and fluorescent-lit exhibitor halls comes three years after the COVID-19 pandemic disrupted professional conferences and events across industries. This year, however, advisors plan to attend old standbys… read more…

November 29, 2022Historical returns and underlying investments aren’t the only metrics to consider when selecting mutual funds. A fund’s expense ratio, the internal operating costs paid by investors, is also an important component to keep in mind. Expressed as a percentage, an… read more…

November 1, 2022As the year winds down, tax planning takes center stage. The last months before Dec. 31 are prime time for taxpayers to execute various financial moves before certain tax deadlines arrive. So which tax strategies are advisors discussing with clients?… read more…

October 28, 2022Like most client-facing businesses, financial advisory firms tend to have a strong focus on marketing. Those promotional strategies often serve to both engage current clients and expand their business to bring on new clients. And with the end of the… read more…

August 29, 2022When it comes to the question of whether Americans are in a recession – or headed for one in the near future – financial advisors are pessimistic. In a survey of close to 300 financial advisors who participate on SmartAsset’s SmartAdvisor matching… read more…

August 24, 2022The tight labor market has made it more difficult for some companies to secure top talent. Even financial advisor firms are struggling to find new advisors as their workforce ages. Data from the J.D. Power U.S. Financial Advisor Satisfaction Study… read more…

August 18, 2022In June 2022, U.S. stocks officially entered a bear market as popular market indexes – such as the S&P 500 – fell more than 20% below previous record closes. Those losses have since been met by recent upticks over the… read more…

August 3, 2022Contributing to a 401(k) or individual retirement account (IRA) isn’t the only way to save for retirement. While most people think of health savings accounts (HSAs) as tools for covering annual medical expenses, they can also be valuable retirement savings… read more…

July 21, 2022The independent wealth management industry has grown significantly over the past decade and many financial advisors think it will continue to grow looking forward. According to a 2022 Schwab Advisor Services’ Independent Advisor Outlook Study, about 93% of firms expect… read more…

May 2, 2022During times of economic instability, financial advice is often in high demand. As increased inflation and the Russia-Ukraine War continue to shake financial markets, many individuals working with financial professionals may rely more heavily on them for advice and planning.… read more…

April 13, 2022Most financial advisors fall in the 90th percentile of U.S. workers according to average annual earnings. Data from the Bureau of Labor Statistics shows that the average financial advisor made about $120,000 in 2021, more than double the income of the average worker who earned $58,300 in the same year. Though the advisory career sets many individuals up… read more…

April 6, 2022Between 2020 and 2021, the number of fraud reports filed with the Federal Trade Commission (FTC) increased by 27.3%, from 2.2 million to 2.8 million. Total reported monetary losses saw a bigger spike over the same time period (78%), jumping from $3.3 billion to $5.9 billion. Over the past 10 years, there was a 154.5%… read more…

March 9, 2022Though financial advisors expertly help clients plan for their future, they sometimes neglect to apply the same forethought to their own firms. In fact, only 27% of financial advisors have a succession plan or any formal preparations to transition their business, according to a 2018 Financial Planning Association (FPA) report. The need to have such… read more…

November 11, 2021Charitable giving increased by 5.1% in 2020, as Americans donated $471.44 billion during a year defined by COVID-19. Of those donations, 28% went to religious organizations, 15% to education and 14% to human services, according to the National Philanthropic Trust. Giving to charity not only allows a person to support the causes they value, it can also… read more…

October 27, 2021Over the past decade, the total number of U.S.-based registered investment advisors (RIAs) has increased by 20.29%. Total assets managed by RIAs have grown at an even steeper rate, more than doubling over the same period. Assets managed by Securities and Exchange Commission (SEC) RIAs rose from $43.8 trillion in 2010 to more than $110… read more…

September 30, 2021There are 218,100 personal financial advisors in the U.S., according to the Bureau of Labor Statistics. This means that there are 9.70 financial advisors for every 10,000 adults ages 25 and older. Of course, financial advisors are more concentrated in some areas than others. To find where Americans may have the largest selection of experts to… read more…