Standard Occupational Classification (SOC): Personal Financial Advisors

Personal financial advisors in healthcare are financial professionals who help individuals and families plan for their financial future. They may work for banks, investment firms, insurance companies, or other financial institutions, and may specialize in areas such as retirement planning, investment management, or tax planning.

In healthcare, personal financial advisors may help healthcare professionals such as doctors, nurses, and other healthcare workers with financial planning and investment advice. They may also assist them with retirement planning, including pension plans and other employee benefits. They may also help them with understanding the financial aspects of their healthcare profession, such as understanding their medical malpractice insurance coverage and other financial risks associated with their profession.

Personal financial advisors in healthcare typically hold a bachelor’s degree in finance, accounting, economics, or a related field, and may also hold professional certifications such as the Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) designations. They must also be licensed by the state to work as financial advisors, and are subject to state and federal regulations.

Personal financial advisors in healthcare play a critical role in helping healthcare professionals make informed decisions about their finances, which can help them to manage their financial risks and achieve their financial goals. They also can provide the peace of mind that comes with knowing that their financial future is well planned and secure.