While offering meaningful advice is not often the reason financial advisors begin a career in the industry, it is common that this aspect of the job is the most rewarding.
A success in the financial life of a client often equates to success for the client’s financial advisor.
How much can you make as a financial advisor?
According to the U.S. Bureau of Labor Statistics (BLS), as of May 2018 the median average for a personal financial advisor is $88,890. Those on the higher end of the salary range, who have done this work for a long time or work in the right industry or city, could find themselves making over $200,000 a year.
What are the pros and cons of being a financial advisor?
Becoming a Financial Advisor
|Low start-up costs||Marketing costs vary widely|
|Lifetime learning||You will never learn everything|
|Huge range of products + strategies||Consider a somewhat narrow focus|
|Ongoing interaction with people||Confidence and friendliness are essential|
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Is being a financial advisor stressful?
According to Financial Planning magazine, financial advisors face significantly more stress than the average profession, with male advisors reporting 26.2% high levels of stress than the national norm. Sometimes you may feel like squeezing the crap out of a stress ball, and that’s okay.
Are Financial Advisors in demand?
The catch: There aren’t enough to meet demand. There are about 76,000 certified financial planners (CFPs) in the U.S. now, but there’s room for more. In fact, financial advisors, in general, are one of the most in-demand positions, according to a recent CareerCast report on the toughest jobs to fill.