Career and Education Opportunities for Personal Financial Planners in Minnesota
Minnesota has a population of 5,266,214, which has grown by 7.05% over the past 10 years. Nicknamed the "North Star State," its capital is Saint Paul, though its biggest city is Minneapolis.
There are currently 1,790 jobs for personal financial planners in Minnesota and this is projected to grow by 27% to 2,270 jobs by 2016. This is not quite as good as the national trend for personal financial planners, which sees this job pool growing by about 30.1% over the next eight years. Personal financial planners generally advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate.
Income for personal financial planners is about $28 per hour or $58,930 per year on average in Minnesota. Nationally, their income is about $33 per hour or $69,050 per year. Incomes for personal financial planners are better than in the overall category of Accounting and Auditing in Minnesota, and better than the overall Accounting and Auditing category nationally. Jobs in this field include: investments manager, credit counselor, and financial advisor.
In 2008, there were a total of 3,567,295 jobs in Minnesota. The average annual income was $42,953 in 2008, up from $41,693 the preceding year. The unemployment rate in Minnesota was 8.0% in 2009, which has grown by 2.6% since the previous year. Approximately 27.4% of Minnesota residents have college degrees, which is higher than the national average.
The top industries in Minnesota include medical, dental, and hospital equipment merchant wholesalers, general-line grocery merchant wholesalers, and real estate credit. Notable tourist destinations include the American Wings Air Museum, the Hennepin History Museum, and the Golden Wings Museum.
CITIES WITH Personal Financial Planner OPPORTUNITIES IN Minnesota
JOB DESCRIPTION: Personal Financial Planner
In general, personal financial planners advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. They also duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
Every day, personal financial planners are expected to be able to articulate ideas and problems. They need to deal with basic arithmetic problems. It is also important that they think through problems and come up with general rules.
Similar jobs with educational opportunities in Minnesota include:
- Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
- Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
- Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
- Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
- Credit Analyst. Analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Prepare reports with this credit information for use in decision-making.
- Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
- Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
- Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
- Insurance Adjuster. Investigate, analyze, and determine the extent of insurance company's liability concerning personal, casualty, or property loss or damages, and attempt to effect settlement with claimants. Correspond with or interview medical specialists, agents, or claimants to compile information. Calculate benefit payments and approve payment of claims within a certain monetary limit.
- Insurance Appraiser. Appraise automobile or other vehicle damage to determine cost of repair for insurance claim settlement and seek agreement with automotive repair shop on cost of repair. Prepare insurance forms to indicate repair cost or cost estimates and recommendations.
- Insurance Underwriter. Review individual applications for insurance to evaluate degree of risk involved and determine acceptance of applications.
- Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
- Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
- Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
- Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
LOCATION INFORMATION: Minnesota
Minnesota has a population of 5,266,214, which has grown by 7.05% over the past 10 years. Nicknamed the "North Star State," its capital is Saint Paul, though its largest city is Minneapolis. In 2008, there were a total of 3,567,295 jobs in Minnesota. The average annual income was $42,953 in 2008, up from $41,693 the previous year. The unemployment rate in Minnesota was 8.0% in 2009, which has grown by 2.6% since the previous year. Roughly 27.4% of Minnesota residents have college degrees, which is higher than the national average.
The top industries in Minnesota include medical, dental, and hospital equipment merchant wholesalers, general-line grocery merchant wholesalers, and real estate credit. Notable tourist destinations include the Hennepin History Museum, the Minneapolis Institute of Arts, and the Fridley Historical Society Museum.