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The Truth About a Financial Adviser Career: Pros and Cons

The concept sounds great, but the pros and cons of a financial adviser career should always be considered before you travel down this path.


A career in finance is always going to be difficult no matter what level you choose to apply for.  But what you’re going to find is that they can also be extremely rewarding if you prepare and arrange your career so that you can qualify for the best possible positions.  However, you want to be aware of both sides of the coin so that you can make sure you’re actually willing to put in the amount of effort that this type of career path is going to demand.  You’re going to find that all jobs have pros and cons, but you have to do your homework to really see whether or not financial advisor careers are really the right path for you.

That means looking at the gains that you seek to acquire, in addition to the hardships that you’ll face when making your name.  You’re going find that there are ample opportunities for both, but you still want to ensure that you stay prepared.  Here are a few of the plus factors and negatives that you will encounter, so that you can be better prepared for what a financial advisor job search can bring you.

First up, the positives of a hard fought career at it’s height:

1) Fantastic job growth potential.

Most careers are expected to grow anywhere from 5% to 10% in the next 5 years or so, if they are good growing fields to enter.  But financial advisor careers are actually expected to grow by 30%.  That’s way ahead of the competition, and that guarantees you’re going to be able to form a career with plenty of job opportunities.  30% is a tremendous amount, and more and more Americans are getting financially conscious every single day.  Hence the need for more advisors, and that much more work.

2) Fantastic salary outlook.

You’ll find that most financial advisor job descriptions are going to be offering up at least $50,000 in many cases, even for entry level positions.  But beyond this, you can go so much further as well, and ensure that you’re going to be making well into six figures if you’re able to land the right type of job.  In fact, there are plenty of great jobs that have incentive offers like a cut of the money that you earn people by being their advisor, and other such great bonuses.

3) Interesting career challenges.

One day you could be helping someone pay for insurance, make their first excursion onto the investment front, or you could even help a family save for their child’s college education.  You’re sure to be doing something everyday, and the higher up corporate careers provide the same types of challenges on a whole different level.  That means there are plenty of opportunities to keep things interesting and challenging, so your job never gets stale.

But of course, there are plenty of bad points, and you have to be aware of those too, with any financial advisor career:

1) Difficult educational requirements.

Being an accountant on any level isn’t easy, and financial advice requires that you have a firm grasp of accounting principles.  That means you’re going to have to be really good at math, but you’re also going to have to be well read in tax laws, and everything else of the sort.  To provide sound and informed financial advice, you have to be extremely informed yourself, and sometimes that’s difficult to attain.  You need at least a bachelor’s degree, but most candidates further your education, which means if you want to rise through the ranks you’ll have to follow suit.

2) Rigorous certification process.

Like any careers which involve legal advice about this or that, financial advisor jobs are such that you have to get state certification in order to work.  You’re going to be telling people what they can legally do with their money, and people are also going to be trusting large sums of money with you, in the hopes that you know what you’re doing.  For that, you have to prove to the state that you can back up your education with real world knowledge.  This process takes several hard exams to obtain licenses, and they are costly too, so you’ll be shelling out a hefty investment beyond your education in order for you to get the job.

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