5 Great Careers for Financial Advisors

5 In-Demand Financial Advisor Jobs

  • Registered Financial Planner
  • Insurance Specialist
  • Banker
  • Stock Market Broker/Trader
  • Professor

Careers for financial advisors are typically focused on money management strategies for individuals, families or organizations in the private and public sector. These professionals are involved in assessing the financial position of their clients, understanding their lifestyles and long-term goals with the objective of recommending a financial plan of action to achieve these goals. Some advisors are generalists who offer a complete range of wealth management services to clients while other financial advisors focus on specialized services such as investment management, retirement preparation or tax planning. Some advisors may opt for corporate employment while others may choose to be independent consultants. Employment or consultancy positions with the government or private sector organizations are also available to financial advisors with the right qualifications.

1. Registered Financial Planner

Building a career as a financial advisor takes rigorous training and the time and effort needed to prepare for and pass industry-administered exams. These exams may include the Series 7 for stockbrokers and the Series 66 for investment advisor representatives. Registered financial planner is the designation for those who have successfully completed qualifying tests after completing a four-year bachelor’s degree in business, finance or economics. Registered financial planners may offer a comprehensive package of financial products and services to clients and may work as an independent representative or as an employee of an investment firm.

2. Insurance Specialist

Insurance is a valuable asset for individuals, families and corporations. However, there is a wide selection of insurance products available, and choosing the right one can be a tedious exercise. Financial advisors are trained to understand what each product can do for clients and their financial goals, the optimum policy value to maximize returns and best mix of insurance products that clients should carry to protect themselves and their assets should the unthinkable happen.

3. Banker

A career in banking is a logical direction for financial advisors. Banks have commercial divisions where trained financial professionals can assist organizations and corporations with their asset management programs. Banks have a separate division for individuals requiring assistance to manage their investment portfolios. Portfolio management may be a full-time corporate job hired directly by employers or a consultancy position.

4. Stock Market Broker/Trader

A stock market trader or broker is a job that requires a background in finance or business. The trader is authorized to execute stock trades, manage stock portfolios on behalf of clients and perform other tasks related to portfolio management, including asset portfolio review and realignment. Stock market traders have to complete the mandatory rigorous training, pass the qualifying exams and comply with other annual re-certification requirements. This is a fast-paced job with high rewards for financial professionals.

5. Professor

Financial professionals may find a fulfilling career as professors of finance, accounting, economics or business. Years of experience as a financial advisor combined with a record of success in asset management or financial planning may be just what you need to transition to a slower but equally fulfilling career as a college professor. Many financial advisors join the academe as a part-time job even as they pursue other jobs mentioned above.

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According to U.S. News and World Report, the employment outlook for financial advisor jobs will grow by 14 percent between 2016 and 2026. This growth rate is higher than average, and financial advisors are ranked among the best jobs in the business field based on compensation, employment prospects and work-life balance.