why do you want to become a financial planner

If theres one thing thats true about the world, its that things change constantly. In recent times, weve seen pensions go the way of the dinosaur to be replaced by employee-funded retirement plans. Weve seen benefits go from fully-funded to a more do-it-yourself direction. Regulations are always being refined, and the Department of Labor has a revised stance on what it means to be a fiduciary. And you as an advisor have to keep up with all this change to make sure you and your business stay relevant. It can feel like a lot. And its true no matter who you are: in our ultra-connected digital age, its generally not a lack of information that gets in the way of our hoping, dreaming, and (most importantly) planning for the future. Its a lack of optimism. When you feel overwhelmed, apathy tends to take over and inactivity wins out. But you as an advisor have a unique opportunity to reverse that trend, and it all starts with thinking about your reasons for doing what you do. Sure you work to get paid we all do that but not everyone wakes up one day and says I think Ill become a financial advisor. It takes a special kind of person one with a passion for helping Americans reach their goals and plan for their futures. So when youre feeling like the world is changing too fast, take a step back and think about these five reasons to love being a financial advisor. When you work as a financial advisor, you get to meet all kinds of people. Whether you work with individuals, advise employers on their retirement plan offering, or have a wide range of clients of all sorts, everyone is different, with a unique situation that requires you to come up with solutions to meet their specific needs.


You get to dig deep into peoples stories and find out whats important to them so you can in turn help them plan to preserve those things and protect what matters most to them. In addition to meeting all sorts of people, its also refreshing in such an online, social-media-driven world to have honest, person-to-person contact that requires you to engage and think and connect, not just hit a like button and move on. And the more active connections you forge, the more youre likely to be able to take advantage of passive ones, expanding your business through reviews and recommendations by your clients when their friends, family, or colleagues are looking for a trusted partner to offer financial advice. You cant spend all day helping people understand and improve their finances without learning a little something yourself. Whether its a professional revelation about how to tweak financial plans or a personal lesson through how a client handles an issue, youve always got the opportunity to learn from others and benefit personally, professionally, and sometimes both from that expanded knowledge. If youre working with employers to help them offer benefits to their employees, its a double-whammy of added value. Youre helping every employee in that place get or stay on target to meet their financial goals,
and youre helping the business or organization they work for thrive in a tough environment. Your advice is a big part of what keeps them all moving toward their financial goals on a personal and a business level, and the value of that cant be overstated.


At the end of the day, financial advisors are a lot like teachers in the best possible way: youre helping people learn and grow in an area they dont know a lot about to ensure that theyve got the best chance at having the future they dream of. Its a calling that takes a special kind of person to do, and you might feel a little like a hero, going out there every day and helping people protect and achieve their futures. And you know what? You deserve it. Now get out there and keep on doing your thing. The world changes all the time, but what doesnt change is the importance of planning for the future, and taking a moment to step back from all the stressors that threaten to hold you down can help remind you of the immense value of what you do every day. Hows that for something to be optimistic about? As members of the financial advisory community we owe it to ourselves to create more awareness of the financial advising and financial planning profession. As the average age of financial advisers continues to climb and women continue to control more investable assets, our industry must find ways to attract younger and more diversified talent. While you likely already recognize the financial services industry as an incredibly rewarding, flexible, lucrative and perhaps most importantly growing career path, many others do not. With that, here are our top 10 reasons we encourage students, recent grads and career changers to explore a career path as a financial adviser in 2015: 1.


Industry-wide, financial services firms are eager to hire the next generation of advisers. The U. S. Bureau of Labor Statistics projects the number of job openings for financial advisers will jump 27%, or 60,300 additional jobs, by 2022. That's much faster than the 10. 8% average growth rate for all occupations. 2. This dramatic need for financial advisers is attributed to the aging out of many of the industry's current advisers. According to global research firm Cerulli Associates, 43% of financial advisers are over age 55 and the average age of advisers is currently 50. 9 years. 3. Just as the industry is expecting a decrease in financial advisers, more investors than ever are seeking the advice of professionals in the wake of the Great Recession, creating an increasing need for the next generation of financial advisers. 4. According to a study published by, an estimated $30 trillion in wealth will transfer to the next generation of investors over the course of the next 30 years. As this wealth is transferred, many in the next generation will be looking to align themselves with new financial advisers. 5. Experienced advisers report a lack of time and rapport to develop relationships with their clients' children and/or grandchildren. Laying the groundwork with these next-gen clients increases your chances of earning the privilege of managing their inherited assets. 6. In a 2012 Cerulli Associates report, only 7. 9% of financial advisers were women. At the same time, women have decision-making power over 39% of all investable assets in the U. S. This need for female financial advisers provides ample opportunity for women interested in a career in the financial services industry. 7.


Financial adviser ranked No. 4 on the U. S. News and World Report Best Business Jobs for 2014 based on hiring demand, salary, industry growth and work-life balance. 8. According to the U. S Bureau of Labor and Statistics, the mean annual wage of a personal financial adviser was twice that of the average income reported for all other occupations. Some industry projections have starting salaries forecasted to rise 3. 5% in the next year. 9. As a financial adviser, there are multiple career paths to follow at large firms, small or mid-size branches or as an entrepreneur eventually opening a solo practice. 10. Opportunities are not location specific. Like other service providers of influence, doctors, dentists and accountants, financial advisers are needed in large cities and small towns across the country. At The Advisor Center, we pride ourselves on providing advisers looking to explore a professional move with all available options for their business. When it comes to looking at other firms, many experienced advisers will tend to gravitate toward what they know because they simply aren't aware of what's available in the marketplace. The same holds true for those who may not have considered a career path as an adviser. There are so many reasons to choose this profession those who are currently in it just need to do a better job of helping to spread the word. Tom Daley is the founder and chief executive of, a strategic partner to InvestmentNews and.

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