Tuesday, April 21, 2009
Help Wanted: Advisors Under 50
Think financial jobs are scarce? Think again.
As wave after wave of layoffs hit the financial firms, there is one financial job that just can't attract enough applicants to fill the openings: financial adviser or broker. According to industry insiders and consultants, nobody wants to be a stockbroker these days. According to Cerulli Associates, nearly half of all financial advisers today are over 50 years old. And that aging talent pool isn't being replenished with young blood: Less than 5%, or just 15,000, of the 298,000 U.S. advisers are currently 30 years old or younger, according to Cerulli Associates.
"Long term, this will definitely kill us," says Fusion Advisor Network's Philip Palaveev of the dearth of young-blood flowing into the business. "When this wave of advisers over 50 years old tries to retire, how will we absorb the clients that they leave behind..."
Forbes: Help Wanted: Advisors Under 50
As wave after wave of layoffs hit the financial firms, there is one financial job that just can't attract enough applicants to fill the openings: financial adviser or broker. According to industry insiders and consultants, nobody wants to be a stockbroker these days. According to Cerulli Associates, nearly half of all financial advisers today are over 50 years old. And that aging talent pool isn't being replenished with young blood: Less than 5%, or just 15,000, of the 298,000 U.S. advisers are currently 30 years old or younger, according to Cerulli Associates.
"Long term, this will definitely kill us," says Fusion Advisor Network's Philip Palaveev of the dearth of young-blood flowing into the business. "When this wave of advisers over 50 years old tries to retire, how will we absorb the clients that they leave behind..."
Forbes: Help Wanted: Advisors Under 50
Permalink posted by markw @ 6:44 AM 
 |
 |  |
  |
