1. The Demand Grows for
Financial Investment
Advisors
By Frank LaRosa

2. At his firm, ELITE Recruiting and Consulting, Inc.,
company President Frank LaRosa provides placement
services for experienced financial advisors and
managers as well as trainees. With extensive
experience as a financial advisor and senior executive
at leading financial services companies, Frank LaRosa
is knowledgeable about future prospects for financial
investment advisors.

3. Forecasters at the Bureau of Labor Statistics project
that between 2010 and 2020 financial advisor jobs will
grow by up to 32%, a rate faster than average. As the
retirement of the Baby Boomer generation progresses,
there will be an increased demand for professionals
who provide investment advice and wealth management
services. In addition, as younger working individuals
expect to live longer and maintain employment later in
life, they will be contributing to self-directed retirement
plans, such as 401(k) programs. With fewer individuals
working for employers that sponsor pension plans, self-
managed retirement plans have become the norm.
Furthermore, as wealth has expanded for those at the
highest income levels, they will demand more financial
products and the guidance of financial services experts.

4. Another factor that bodes well for those entering the
financial advisor profession is that seasoned
professionals will leave the field as they age. Forbes
Magazine reports that the average age of financial
advisors is 50 and only about 5% of professionals are
under 30. Due to cost-cutting measures, many large
financial service companies have cut their training
programs, which makes entry into the profession more
difficult. However, companies will be pressed to think
about succession planning, and this should provide
opportunities for older financial advisors to mentor
younger financial advisors who will take over in
managing their books of business.