Financial planning ranks fifth among 200 professions as one of the best jobs in 2013, according to CareerCast.com, but why?

Peter McGratty, vice president of business development at Pinnacle Advisor Solutions, said the job of a financial advisor is for someone who is "entrepreneurial with an independent bent."

"The job is great with work/life balance," he said, adding that his firm was founded 20 years ago. Today, the firm manages a total of $1.1 billion for 800 families.

CareerCast.com, a careers website, ranked the 200 jobs from best to worst based on five criteria: physical demands, work environment, income, stress, and hiring outlook. 

"As the baby boom generation reaches retirement age, they are expected to seek assistance from financial planners with greater regularity," the study said. "Financial planners face a wide array of responsibilities, including helping clients prepare for old age, addressing tax and inheritance concerns and budgeting for living expenses."

The salary median of financial planners, according to the U.S. Bureau of Labor Statistics: $64,750. Projected growth rate of the industry stands at 32%.

Financial planner followed actuary, biomedical engineer, software engineer, and audiologist as best overall careers. See a list of the 10 best jobs of 2013 here, as outlined by CareerCast.com, and the 10 worst here

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