Advisor Jobs Among Hardest to Fill
Demand for financial advisors is outpacing the supply of qualified candidates, making it one of the hardest positions to fill, according to a recent CareerCast report cited by CNBC.
The projected growth outlook for financial advisors is 30% from 2014 to 2024, according to a Bureau of Labor Statistics report cited by CareerCast. The median salary in 2015, meanwhile, stood at $89,160, according to BLS. At the same time, demand for financial advisors is growing, according to CNBC. Following the financial crisis and the subsequent bull market, many savers would prefer to have some professional financial help, according to the news channel. Given the turbulence, “people are starting to plan more aggressively in case something else happens,” Kyle Kensing, CareerCast’s online content editor, tells CNBC. Some firms, including Betterment and Charles Schwab, have begun hiring more advisors to assist investors on their automated platforms in volatile markets, according to the news channel.
But financial advice, despite its financial perks, isn’t a particularly popular career, Kensing tells CNBC. That means hiring managers aren’t finding enough qualified candidates, he tells CNBC.com. What’s more, as veteran advisors retire, the pipeline of new recruits isn’t keeping up, Shannon Pike, a CFP at Tanglewood Legacy Advisors and president of the Financial Planning Association, tells CNBC.