Overall employment of financial analysts and personal financial advisors is expected to increase faster than average for all occupations through 2014, resulting from increased investment by businesses and individuals. Personal financial advisors will benefit even more than financial analysts as baby boomers save for retirement and as a generally better educated and wealthier population requires investment advice. In addition, people are living longer and must plan to finance more years of retirement. The globalization of the securities markets also will increase the need for analysts and advisors to help investors make financial choices.

Financial analysts and personal financial advisors who have earned a professional designation are expected to have the best opportunities. Deregulation of the financial services industry is expected to spur demand for financial analysts and personal financial advisors. In recent years, banks, insurance companies, and brokerage firms have been allowed to broaden their financial services. Many firms are adding investment advice to their list of services and are expected to increase their hiring of personal financial advisors. Many banks are entering the securities brokerage and investment banking fields and will increasingly need the skills of financial analysts. Employment of personal financial advisors is projected to grow faster than the average for all occupations.

 The rapid expansion of self-directed retirement plans, such as 401(k) plans, is expected to continue. As the number and complexity of investments rises, more individuals will look to financial advisors to help manage their money. Employment of financial analysts is expected to grow about as fast as the average for all occupations. As the number of mutual funds and the amount of assets invested in the funds increase, mutual fund companies will need increased numbers of financial analysts to recommend which financial products the funds should buy or sell. Financial analysts also will be needed in the investment banking field, where they help companies raise money and work on corporate mergers and acquisitions. However, growth in demand for financial analysts to do company research has been, and will continue to be, constrained by regulations that require investment firms to separate research from investment banking. As a result, firms have eliminated research jobs in an effort to contain the costs of implementing these regulations.

Demand for financial analysts in investment banking fluctuates because investment banking is sensitive to changes in the stock market. In addition, further consolidation in the finance industries may eliminate some financial analyst positions, dampening overall employment growth somewhat. Competition is expected to be keen for these highly lucrative positions, with many more applicants than jobs.

Financial analysts and personal financial advisors provide analysis and guidance to businesses and individuals to help them with their investment decisions. Both types of specialists gather financial information, analyze it, and make recommendations to their clients. However, their job duties differ because of the type of investment information they provide and the clients for whom they work. Financial analysts assess the economic performance of companies and industries for firms and institutions with money to invest. Personal financial advisors generally assess the financial needs of individuals, offering them a wide range of options.

Financial analysts, also called securities analysts and investment analysts, work for banks, insurance companies, mutual and pension funds, securities firms, and other businesses, helping these companies or their clients make investment decisions. Financial analysts read company financial statements and analyze commodity prices, sales, costs, expenses, and tax rates in order to determine a company's value and to project its future earnings. They often meet with company officials to gain a better insight into the firm's prospects and to determine its managerial effectiveness. Usually, financial analysts study an entire industry, assessing current trends in business practices, products, and industry competition. They must keep abreast of new regulations or policies that may affect the industry, as well as monitor the economy to determine its effect on earnings.

Financial analysts use spreadsheet and statistical software packages to analyze financial data, spot trends, and develop forecasts. On the basis of their results, they write reports and make presentations, usually making recommendations to buy or sell a particular investment or security. Senior analysts may even be the ones who decide to buy or sell if they are responsible for managing the company's or client's assets. Other analysts use the data they find to measure the financial risks associated with making a particular investment decision. Financial analysts in investment banking departments of securities or banking firms often work in teams, analyzing the future prospects of companies that want to sell shares to the public for the first time. They also ensure that the forms and written materials necessary for compliance with Securities and Exchange Commission regulations are accurate and complete. They may make presentations to prospective investors about the merits of investing in the new company.

Financial analysts also work in mergers and acquisitions departments, preparing analyses on the costs and benefits of a proposed merger or takeover. Some financial analysts, called ratings analysts, evaluate the ability of companies or governments that issue bonds to repay their debts. On the basis of their evaluation, a management team assigns a rating to a company's or government's bonds. Other financial analysts perform budget, cost, and credit analysis as part of their responsibilities. Personal financial advisors, also called financial planners or financial consultants, use their knowledge of investments, tax laws, and insurance to recommend financial options to individuals in accordance with the individual's short-term and long-term goals. Some of the issues that planners address are retirement and estate planning, funding for college, and general investment options.

While most planners offer advice on a wide range of topics, some specialize in areas such as retirement and estate planning or risk management. an advisor's work begins with a consultation with the client, from whom the advisor obtains information on the client's finances and financial goals. The advisor then develops a comprehensive financial plan that identifies problem areas, makes recommendations for improvement, and selects appropriate investments compatible with the client's goals, attitude toward risk, and expectation or need for a return on the investment. Sometimes this plan is written, but more often it is in the form of verbal advice. Financial advisors usually meet with established clients at least once a year to update them on potential investments and to determine whether the clients have been through any life changes, such as marriage, disability, or retirement, that might affect their financial goals. Financial advisors also answer questions from clients regarding changes in benefit plans or the consequences of a change in their jobs or careers.

A large part of the success of financial planners depends on their ability to educate their clients about risks and various possible scenarios so that the clients don't harbor unrealistic expectations. Some advisors buy and sell financial products, such as mutual funds or insurance, or refer clients to other companies for products and services, for example, the preparation of taxes or wills. A number of advisors take on the responsibility of managing the clients' investments for them. Finding clients and building a customer base is one of the most important of a financial advisor's job, because referrals from satisfied clients are an important source of new business. Many advisors also contact potential clients by giving seminars or lectures or meet clients through business and social contacts.