# Personal Financial Advisors

US SOC code 13-2052. Markdown version of https://futurehistory.earth/timeline/13-2052

Also called: Financial advisor, Wealth advisor, Financial planner, Certified financial planner, CFP.

## In brief

In May 2025, [BLS](https://www.bls.gov/oes/special-requests/oesm25nat.zip) counted **266,800** US personal financial advisors, with median pay of **$105,070** a year. Of the BLS counts since 2003, the highest was **283,060**, in May 2022. The last full technology era for personal financial advisors: Vanguard Personal Advisor Services, 2015 to 2020.

## What the sources say

### Official outlook

BLS projects employment to grow 1.4% from 2025 to 2035. Source: [BLS Employment Projections 2025-35](https://data.bls.gov/projections/nationalMatrix?queryParams=13-2052&ioType=o).

### AI exposure studies

- **35%** of work tasks in business and financial operations occupations, this job's group, are exposed to automation by AI. Not a forecast of job losses. [Goldman Sachs, 2023](https://www.gspublishing.com/content/research/en/reports/2023/03/27/d64e052b-0f6e-45d7-967b-d7be35fabd16.pdf)
- **0.58** estimated probability that the whole occupation could be computerised, over an unspecified number of years. Not a forecast of job losses. [Frey and Osborne, 2013](https://oms-www.files.svdcdn.com/production/downloads/academic/The_Future_of_Employment.pdf)

### Since the 2013 prediction

In 2013, Frey and Osborne put this job's probability of computerisation at 0.58. BLS counted **183,420** of these jobs in May 2013 and **266,800** in May 2025. The count moved sharply in one step, May 2020 to May 2021, when BLS changed how it estimates these counts, so no change is derived here.

Data as of BLS OEWS May 2025; BLS Employment Projections 2025-35. BLS publishes these counts as yearly survey snapshots and cautions against reading them as a precise trend. In May 2021 BLS changed how it estimates these counts (a model-based method using three years of survey data) and moved fully to the 2018 occupation codes, so part of a change across 2021 can come from the method rather than the work.

## Personal Financial Advisors employment and pay by year

- On record since: 1969
- Latest US employment: 266,800 (May 2025). Source: BLS OEWS May 2025 [2]
- Latest US median pay: $105,070 (May 2025). Source: BLS OEWS May 2025 [6]
- Outlook: +1.4% by 2035. Source: BLS Employment Projections 2025-35 [34]

### In other countries

The latest figure each country's statistics agency publishes for this job. Each uses its own occupation definition, survey basis and currency, so the numbers are not directly comparable with each other or with the US figures.

- **Canada** (NOC 11102)
  - Employment, 2020: 94,315. Source: Statistics Canada Census 2021 [5]. Statistics Canada Census of Population 2021: number of persons with employment income in NOC 11102 Financial advisors, Canada, reference year 2020. A recipients basis (anyone with employment income during the year), slightly broader than a point-in-time employed count. Statistics Canada Open Licence.
  - Median pay, 2020: C$74,500. Source: Statistics Canada Census 2021 [12]. Statistics Canada Census of Population 2021 (Table 98-10-0586): median employment income for NOC 11102 Financial advisors, Canada, reference year 2020, full-year full-time workers (the basis comparable to the US OEWS full-time median). Statistics Canada Open Licence.

### All 24 years of cited US data

| Year | US employment | Annual pay (median unless marked) | Source |
| --- | --- | --- | --- |
| 2002 | 77,010 | n/a | BLS OEWS 2002 [1] |
| 2003 | 85,670 | $58,700 | BLS OEWS May 2003 [2] |
| 2004 | 94,490 | $62,700 | BLS OEWS May 2004 [2] |
| 2005 | 108,640 | $63,500 | BLS OEWS May 2005 [2] |
| 2006 | 119,690 | $66,120 | BLS OEWS May 2006 [2] |
| 2007 | 132,460 | $67,660 | BLS OEWS May 2007 [2] |
| 2008 | 146,690 | $69,050 | BLS OEWS May 2008 [2] |
| 2009 | 149,460 | $68,200 | BLS OEWS May 2009 [2] |
| 2010 | 155,360 | $64,750 | BLS OEWS May 2010 [2] |
| 2011 | 161,790 | $66,580 | BLS OEWS May 2011 [2] |
| 2012 | 175,470 | $67,520 | BLS OEWS May 2012 [2] |
| 2013 | 183,420 | $75,320 | BLS OEWS May 2013 [2] |
| 2014 | 196,490 | $81,060 | BLS OEWS May 2014 [2] |
| 2015 | 197,580 | $89,160 | BLS OEWS May 2015 [2] |
| 2016 | 201,850 | $90,530 | BLS OEWS May 2016 [2] |
| 2017 | 200,920 | $90,640 | BLS OEWS May 2017 [2] |
| 2018 | 200,260 | $88,890 | BLS OEWS May 2018 (employment) [2]; BLS OEWS May 2018 (pay) [7] |
| 2019 | 210,190 | $87,850 | BLS OEWS May 2019 [2] |
| 2020 | 218,050 | $89,330 | BLS OEWS May 2020 [2] |
| 2021 | 263,030 | $94,170 | BLS OEWS May 2021 [2] |
| 2022 | 283,060 | $95,390 | BLS OEWS May 2022 [2] |
| 2023 | 272,190 | $99,580 | BLS OEWS May 2023 (employment) [2]; BLS OEWS May 2023 (pay) [8] |
| 2024 | 270,480 | $102,140 | BLS OEWS May 2024 [2] |
| 2025 | 266,800 | $105,070 | BLS OEWS May 2025 [2] |

## Sources (102)

### Employment series

1. [BLS OES 2002 national estimates (flat file)](https://www.bls.gov/oes/special-requests/oes02nat.zip), Bureau of Labor Statistics
2. BLS OEWS, national cross-industry estimates (flat file), Bureau of Labor Statistics. Editions: [2003](https://www.bls.gov/oes/special-requests/oesm03nat.zip), [2004](https://www.bls.gov/oes/special-requests/oesm04nat.zip), [2005](https://www.bls.gov/oes/special-requests/oesm05nat.zip), [2006](https://www.bls.gov/oes/special-requests/oesm06nat.zip), [2007](https://www.bls.gov/oes/special-requests/oesm07nat.zip), [2008](https://www.bls.gov/oes/special-requests/oesm08nat.zip), [2009](https://www.bls.gov/oes/special-requests/oesm09nat.zip), [2010](https://www.bls.gov/oes/special-requests/oesm10nat.zip), [2011](https://www.bls.gov/oes/special-requests/oesm11nat.zip), [2012](https://www.bls.gov/oes/special-requests/oesm12nat.zip), [2013](https://www.bls.gov/oes/special-requests/oesm13nat.zip), [2014](https://www.bls.gov/oes/special-requests/oesm14nat.zip), [2015](https://www.bls.gov/oes/special-requests/oesm15nat.zip), [2016](https://www.bls.gov/oes/special-requests/oesm16nat.zip), [2017](https://www.bls.gov/oes/special-requests/oesm17nat.zip), [2018](https://www.bls.gov/oes/special-requests/oesm18nat.zip), [2019](https://www.bls.gov/oes/special-requests/oesm19nat.zip), [2020](https://www.bls.gov/oes/special-requests/oesm20nat.zip), [2021](https://www.bls.gov/oes/special-requests/oesm21nat.zip), [2022](https://www.bls.gov/oes/special-requests/oesm22nat.zip), [2023](https://www.bls.gov/oes/special-requests/oesm23nat.zip), [2024](https://www.bls.gov/oes/special-requests/oesm24nat.zip), [2025](https://www.bls.gov/oes/special-requests/oesm25nat.zip)
3. [Statistics Canada, Census of Population 2006, Table 97-563-XCB2006069 (Wage and salary statistics by occupation, NOC-S 2006), income reference year 2005](https://www12.statcan.gc.ca/census-recensement/2006/dp-pd/tbt/Rp-eng.cfm?LANG=E&PID=96285), Statistics Canada
4. [Statistics Canada, Census of Population 2016, Table 98-400-X2016356 (Occupation by employment income statistics, NOC 2016), income reference year 2015](https://www150.statcan.gc.ca/n1/en/catalogue/98-400-X2016356), Statistics Canada
5. [Statistics Canada, Census of Population 2021, Table 98-10-0586 (Employment income statistics by occupation unit group, NOC 2021), income reference year 2020](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=9810058601), Statistics Canada

### Wage series

6. BLS OEWS, national cross-industry estimates (flat file), Bureau of Labor Statistics. Editions: [2003](https://www.bls.gov/oes/special-requests/oesm03nat.zip), [2004](https://www.bls.gov/oes/special-requests/oesm04nat.zip), [2005](https://www.bls.gov/oes/special-requests/oesm05nat.zip), [2006](https://www.bls.gov/oes/special-requests/oesm06nat.zip), [2007](https://www.bls.gov/oes/special-requests/oesm07nat.zip), [2008](https://www.bls.gov/oes/special-requests/oesm08nat.zip), [2009](https://www.bls.gov/oes/special-requests/oesm09nat.zip), [2010](https://www.bls.gov/oes/special-requests/oesm10nat.zip), [2011](https://www.bls.gov/oes/special-requests/oesm11nat.zip), [2012](https://www.bls.gov/oes/special-requests/oesm12nat.zip), [2013](https://www.bls.gov/oes/special-requests/oesm13nat.zip), [2014](https://www.bls.gov/oes/special-requests/oesm14nat.zip), [2015](https://www.bls.gov/oes/special-requests/oesm15nat.zip), [2016](https://www.bls.gov/oes/special-requests/oesm16nat.zip), [2017](https://www.bls.gov/oes/special-requests/oesm17nat.zip), [2019](https://www.bls.gov/oes/special-requests/oesm19nat.zip), [2020](https://www.bls.gov/oes/special-requests/oesm20nat.zip), [2021](https://www.bls.gov/oes/special-requests/oesm21nat.zip), [2022](https://www.bls.gov/oes/special-requests/oesm22nat.zip), [2025](https://www.bls.gov/oes/special-requests/oesm25nat.zip)
7. [BLS OEWS May 2018 — 13-2052 Personal Financial Advisors median annual wage](https://www.bls.gov/oes/2018/may/oes132052.htm), Bureau of Labor Statistics
8. [BLS OEWS May 2023 — 13-2052 Personal Financial Advisors median annual wage](https://www.bls.gov/oes/2023/may/oes132052.htm), Bureau of Labor Statistics
9. [BLS OEWS May 2024, national cross-industry estimates (flat file)](https://www.bls.gov/oes/special-requests/oesm24nat.zip), U.S. Bureau of Labor Statistics
10. [Statistics Canada, Census of Population 2006, Table 97-563-XCB2006069 (Wage and salary statistics by occupation, NOC-S 2006), income reference year 2005](https://www12.statcan.gc.ca/census-recensement/2006/dp-pd/tbt/Rp-eng.cfm?LANG=E&PID=96285), Statistics Canada
11. [Statistics Canada, Census of Population 2016, Table 98-400-X2016356 (Occupation by employment income statistics, NOC 2016), income reference year 2015](https://www150.statcan.gc.ca/n1/en/catalogue/98-400-X2016356), Statistics Canada
12. [Statistics Canada, Census of Population 2021, Table 98-10-0586 (Employment income statistics by occupation unit group, NOC 2021), income reference year 2020](https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=9810058601), Statistics Canada

### Tool eras

13. [Dunton.org — "The Birth of a Profession: Financial Planning" (history of the O'Hare meeting)](https://www.dunton.org/archive/biographies/loren_dunton/history_of_fp.htm), Dunton Foundation
14. [CFP Board — "CFP Board Celebrates 50th Anniversary of CFP® Certification"](https://www.cfp.net/news/2023/10/cfp-board-celebrates-50th-anniversary-of-cfp-certification), CFP Board
15. [FPA Journal — "A Concise History of the Financial Planning Profession" (September 2016)](https://www.financialplanningassociation.org/article/journal/SEP16-concise-history-financial-planning-profession), Financial Planning Association
16. [Wikipedia — Bloomberg Terminal](https://en.wikipedia.org/wiki/Bloomberg_Terminal), Wikipedia
17. [Fast Company — "How the Bloomberg Terminal Made History—And Stays Ever Relevant"](https://www.fastcompany.com/3051883/the-bloomberg-terminal), Fast Company
18. [Wikipedia — Morningstar, Inc.](https://en.wikipedia.org/wiki/Morningstar,_Inc.), Wikipedia
19. [Joe Mansueto — Morningstar Leadership Page](https://www.morningstar.com/company/leadership/joe-mansueto), Morningstar
20. [Wikipedia — Quicken (software history)](https://en.wikipedia.org/wiki/Quicken), Wikipedia
21. [Quicken Blog — "Refreshed. Revamped. Renewed. This is Quicken at 40."](https://www.quicken.com/blog/this-is-quicken-at-40/), Quicken
22. [eMoney Advisor — "eMoney Advisor Celebrates 25 Years of Financial Planning Innovation" (2025)](https://emoneyadvisor.com/resources/news/emoney-advisor-celebrates-25-years-of-financial-planning-innovation/), eMoney Advisor
23. [Envestnet MoneyGuide — "Our Company" (PIEtech founded 1985, MoneyGuidePro launched 2000 as the first collaborative internet-based goals-based planning software)](https://www.moneyguidepro.com/ifa/home/ourcompany), Envestnet MoneyGuide
24. [Wikipedia — Betterment (company)](https://en.wikipedia.org/wiki/Betterment_%28company%29), Wikipedia
25. [Wikipedia — Wealthfront](https://en.wikipedia.org/wiki/Wealthfront), Wikipedia
26. [Financial Planning — "Vanguard posts unrivaled digital platform AUM" (Vanguard PAS crosses $100B)](https://www.financial-planning.com/news/vanguards-robo-tops-100-billion), Financial Planning Magazine
27. [Best Robo Advisors — "Vanguard Personal Advisor Review 2026: Fees, Pros & Cons"](https://www.bestroboadvisors.org/vanguard-personal-advisor-services-review/), BestRoboAdvisors.org
28. [SEC.gov — "SEC Adopts Rules to Enhance Protections and Preserve Choice for Retail Investors" (press release, June 5, 2019)](https://www.sec.gov/newsroom/press-releases/2019-89), Securities and Exchange Commission
29. [FINRA — "SEC Regulation Best Interest (Reg BI)" — compliance summary](https://www.finra.org/rules-guidance/key-topics/regulation-best-interest), FINRA
30. [CNBC — "Morgan Stanley is testing an OpenAI-powered chatbot for its 16,000 financial advisors" (March 14, 2023)](https://www.cnbc.com/2023/03/14/morgan-stanley-testing-openai-powered-chatbot-for-its-financial-advisors.html), CNBC
31. [Morgan Stanley — "Launch of AI @ Morgan Stanley Debrief" (press release)](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), Morgan Stanley
32. [FP Alpha — "Our Story" (founding and scale)](https://fpalpha.com/about/), FP Alpha
33. [Cerulli Associates — "40% of Advisory Assets Will Transition in 10 Years" (succession wave)](https://www.cerulli.com/press-releases/40-of-advisory-assets-will-transition-in-10-years-according-to-cerulli), Cerulli Associates

### Forecasts and exposure studies

34. [BLS Employment Projections 2025-35, National Employment Matrix: 13-2052 Personal financial advisors (2025: 299.4 thousand; 2035: 303.5 thousand; +1.4%)](https://data.bls.gov/projections/nationalMatrix?queryParams=13-2052&ioType=o), Bureau of Labor Statistics
35. [Frey & Osborne (2013), "The Future of Employment: How Susceptible Are Jobs to Computerisation?", Appendix (SOC 13-2052 Personal Financial Advisors: probability 0.58, rank 324 of 702)](https://oms-www.files.svdcdn.com/production/downloads/academic/The_Future_of_Employment.pdf), Oxford Martin School, University of Oxford
36. [Briggs & Kodnani, "The Potentially Large Effects of Artificial Intelligence on Economic Growth", Goldman Sachs Global Economics Analyst (26 March 2023), Exhibit 5 (US): business and financial operations 35%](https://www.gspublishing.com/content/research/en/reports/2023/03/27/d64e052b-0f6e-45d7-967b-d7be35fabd16.pdf), Goldman Sachs Global Investment Research

### Historical notes

37. [Dunton.org — "The Birth of a Profession: Financial Planning"](https://www.dunton.org/archive/biographies/loren_dunton/history_of_fp.htm), Dunton Foundation
38. [CFP Board — "CFP Board Celebrates 50th Anniversary of CFP® Certification"](https://www.cfp.net/news/2023/10/cfp-board-celebrates-50th-anniversary-of-cfp-certification), CFP Board
39. [CFP Board — History page](https://www.cfp.net/about-cfp-board/history), CFP Board
40. [Wikipedia — Gramm-Leach-Bliley Act](https://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act), Wikipedia
41. [Wikipedia — Madoff investment scandal](https://en.wikipedia.org/wiki/Madoff_investment_scandal), Wikipedia
42. [Wikipedia — Betterment (company) (TechCrunch Disrupt launch, June 2010)](https://en.wikipedia.org/wiki/Betterment_%28company%29), Wikipedia
43. [SEC.gov — "Regulation Best Interest: The Broker-Dealer Standard of Conduct" (final rule)](https://www.sec.gov/rules-regulations/2019/06/s7-07-18), Securities and Exchange Commission
44. [CNBC — "Morgan Stanley kicks off generative AI era on Wall Street" (September 18, 2023)](https://www.cnbc.com/2023/09/18/morgan-stanley-chatgpt-financial-advisors.html), CNBC

### Predecessors & successors

45. [FPA Journal — "A Concise History of the Financial Planning Profession"](https://www.financialplanningassociation.org/article/journal/SEP16-concise-history-financial-planning-profession), Financial Planning Association
46. [Dunton.org — "The Birth of a Profession: Financial Planning" (founding attendees were insurance + securities professionals)](https://www.dunton.org/archive/biographies/loren_dunton/history_of_fp.htm), Dunton Foundation

### Present-day analysis

- [Eloundou et al. 2024 — GPTs are GPTs (Science)](https://arxiv.org/abs/2303.10130), accessed 2026-05-23
- [O\*NET 30.3 — Personal Financial Advisors (13-2052.00)](https://www.onetonline.org/link/summary/13-2052.00), accessed 2026-05-23
- [BLS Occupational Outlook Handbook — Personal Financial Advisors: 10% growth 2024–2034, $102,140 median wage](https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm), accessed 2026-05-23
- [Morgan Stanley — AI @ Morgan Stanley Debrief: 98% advisor adoption (reruption.com, 2025)](https://reruption.com/en/knowledge/industry-cases/morgan-stanleys-ai-debrief-98-advisor-adoption-boost), accessed 2026-05-23
- [OpenAI — Morgan Stanley uses AI evals to shape the future of financial services (2025)](https://openai.com/index/morgan-stanley/), accessed 2026-05-23
- [McKinsey — US Wealth Management in 2035: A Transformative Decade Begins (2024)](https://www.mckinsey.com/industries/financial-services/our-insights/us-wealth-management-in-2035-a-transformative-decade-begins), accessed 2026-05-23
- [McKinsey — The Looming Advisor Shortage in US Wealth Management (2024)](https://www.mckinsey.com/industries/financial-services/our-insights/the-looming-advisor-shortage-in-us-wealth-management), accessed 2026-05-23
- [Cerulli Associates — Billion-Dollar RIAs Accelerate AI and Data Investments (2025)](https://www.cerulli.com/press-releases/billion-dollar-rias-accelerate-ai-and-data-investments-to-drive-next-stage-growth), accessed 2026-05-23
- [Cerulli Associates — 77% of bank advisors expect AI adoption by 2027](https://www.fa-mag.com/news/bank-advisors-seen-plugging-into-ai-significantly-in-coming-years--cerulli-says-83955.html), accessed 2026-05-23
- [Holistiplan — 39% tax planning software market share, 50,000+ users (T3 2026 Survey)](https://www.newswire.com/news/holistiplan-leads-tax-planning-software-category-with-39-market-share-22746279), accessed 2026-05-23
- [WealthManagement.com — SEC 2026 Examination Priorities: AI rules and fiduciary compliance](https://www.wealthmanagement.com/regulation-compliance/sec-2026-examination-priorities-what-financial-services-firms-need-to-know), accessed 2026-05-23
- [Zocks — AI Meeting Assistant for Financial Advisors: no recording required, 10 hours/week saved](https://www.zocks.io/), accessed 2026-05-23
- [WealthTechToday — Best AI Notetakers for Financial Advisors 2025: Strategic Buyer's Guide](https://wealthtechtoday.com/2025/04/29/best-ai-notetakers-for-financial-advisors-2025-a-strategic-buyers-guide/), accessed 2026-05-23
- [FP Alpha — NextGen Tax Insights: tailored, data-backed tax insights per client situation (2025)](https://www.prnewswire.com/news-releases/fp-alpha-announces-first-of-its-kind-nextgen-tax-insights-now-available-assisting-financial-advisors-in-their-tax-planning-advice-to-clients-302589862.html), accessed 2026-05-23
- [Morningstar — AI Assistant built into Direct Advisory Suite: investment research, portfolio analysis, proposal generation (Mar 2026)](https://newsroom.morningstar.com/news/news-details/2026/Morningstar-Introduces-AI-Assistant-Built-into-the-Advisor-Workflow/default.aspx), accessed 2026-05-23

How to read these figures: https://futurehistory.earth/methodology. Every figure links to its own source; gaps stay gaps.