In this day and age, there are so many different career paths a person could choose. New technologies and industry trends are emerging all the time, creating new jobs and opportunities for the forward-thinking professional. Artificial intelligence, big data, cloud computing, and virtual reality are all technological fields that have created mass employment across the world, and these industries are only set to expand in the future.
New jobs are appearing all the time, but there are other careers that have been around for a long time, and will remain relevant for years and years to come. One of the most lucrative and reliable jobs one can have, is that of a financial advisor.
A financial advisor, also known as a financial planner or wealth manager, is someone who helps their clients manage their finances. They advise individuals or businesses on what to do with their money, where to invest, how to reduce debt, and achieve their financial goals. They can provide enormous benefits to people’s lives, enabling them to save, and make, huge amounts of money.
But why go into this career? What are the benefits and is it a stable source of income? If you’re still unsure, here are five great reasons to become a financial advisor.
It is a growing sector
The global financial advisory services market is currently valued at over $82.4 billion. By the year 2032, it is expected to grow to $138.52 billion. The sector is growing massively, and is showing no signs of slowing down. It is a better time than ever to become a financial advisor, particularly and many of those within the industry are nearing retirement age and so there is a widening gap in the market. Strike while the iron is hot and you will reap huge rewards.
Job Security
With new technologies changing the face of business for good, companies are more than ever relying on financial advisors to help them manage their money and plan for the future. The rate of industry transformation is faster than ever before, so the need for certainty is in high demand. Financial advisers can provide this to businesses and individuals, and so their careers are here to stay. It is unlikely you will be made redundant any time soon, and the personal touch is something that cannot be replaced by artificial intelligence. Wealth management professionals can benefit from new technologies, such as software for financial advisors, that make their job easier and improve efficiency. In this business landscape, there has never been a better time to be a financial advisor.
Be Your Own Boss
Many successful financial advisors are self-employed or run their own companies. This gives you a huge amount of freedom in your working life, allowing you to set your own hours, pick and choose your clients, and manage your life in whatever way you want. You have no boss breathing down your neck, and you can opt to take off and have a holiday whenever you like. There is no one to answer to but yourself, and you are in absolute control of your destiny.
Earn a High Salary
The average salary for a financial advisor in the United States is just under $100,000. This is a huge sum for a qualified professional, and the figure will rise as you gain experience and grow your network. Although money may not be your ultimate goal, it is an enormous benefit. The high earnings potential can greatly improve your quality of life, not to mention the fact that with your wealth management skills, you can make your earnings go even further through sound investments and savings.
Make a Difference
Working as a financial advisor is not about the money. In fact, it gives you an opportunity to give something back and do some good for the world. In this post-pandemic world, things are unsettled and many people are still struggling with the cost of living. No one knows how the war in Ukraine, global warming, or the influence of China will affect the Western world. People are understandably worried about money and whether or not they will have enough to leave behind for their loved ones. As a financial advisor, you can put their minds and rest and help them manage their wealth effectively, ensuring they can provide for their loved ones and future generations.
These are just a few great reasons to become a financial advisor. Make sure you do your research and decide whether or not it is right for you. Good luck on your new career journey!