JobsNOW: Financial planners offer services for life and leisure

A financial advisor is regulated and carries multiple licenses to help people manage their wealth

A financial advisor is regulated and carries multiple licenses to help people manage their wealth. Those can be on a state level or they can take tests that will allow them to operate in multiple states.


YOUNGSTOWN, Ohio (WKBN) – There are spenders and there are savers. Both could use help with their finances, but it’s mostly savers that will seek out a financial advisor to help handle their money.

A financial advisor is regulated and carries multiple licenses to help people manage their wealth. Those can be on a state level or they can take tests that will allow them to operate in multiple states.

David Maxwell started in banking after graduating from Youngstown State University. He believes people skills and having the ability to explain things simply are very important for advisors.

“It might be pictures or it might be charts, but you have to be able to relate with clients on all scales of investment knowledge,” Maxwell said.

A financial advisor knows about stocks, bonds, insurance, and other investment vehicles. They’re building a relationship because people have a tough time parting with their money, and advisors want to be successful with how they handle it.

“We worry more about it more than they do, but it is definitely a fulfilling feeling when clients put that trust in you,” Maxwell said.

Financial advisors spend a lot of time on the phone. Clients can call at any time with a new idea or just wanting to check on their situation because of a life change or maybe after seeing a major financial headline.

“You help them get from point A to point B. Sometimes it is a shorter time frame to take them from A to B, but we deal with clients age 20 to 70 – helping set that plan,” Maxwell said.

The average age of a financial advisor is 58. Roughly 43 percent are over the age of 55, but a big shift is coming. As baby boomers retire, many of their financial advisors are retiring too. There is a need for a younger wave of advisors to be ready to help them.

A 2009 poll by the Financial Planning Association showed that 88 percent of financial advisors started their careers in another profession.

Find out more being a financial advisor and what positions are available at OhioMeansJobs.com. 

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