Driving People to Discover Our Industry

One of the reasons FSI member Amanda Schneider decided to become a financial advisor was the promise that her growth in this industry could be limitless.

Over the years, Schneider has built her practice from a one-person operation to a full-fledged, multi-employee company. In that time, she’s learned that her growth does indeed have no bounds—but in ways she didn’t fully appreciate until now.

“The benefits of working in financial services are many,” said Schneider, who, along with being an advisor, is also a partner and branch manager of Foundations Wealth Partners. “They can be summarized simply: Owning and growing your own business is satisfying and fulfilling. Yet, owning your own growth as a professional is truly gratifying.”

Schneider’s comments were part of a testimonial supporting the launch of the new FSI-sponsored platform FinancialCareers.org, which launched last month.

The site’s primary goal is to educate students, recent college graduates and career changers about opportunities in the independent financial services industry, particularly as financial advisors, and provide employers and prospective candidates a forum to find one another. It offers would-be advisors and up-and-coming leaders information about job openings and other crucial resources, including career coaching, resume reviews and training.

“The independent financial services industry offers an array of exciting career opportunities—whether you’re interested in fostering client relationships as a financial advisor or seeking a more corporate environment at an independent financial services firm,” said Dale Brown, FSI President & CEO.

The site’s primary goal is to educate students, recent college graduates and career changers about opportunities in the independent financial services industry, particularly as financial advisors, and provide employers and prospective candidates a forum to find one another. It offers would-be advisors and up-and-coming leaders information about job openings and other crucial resources, including career coaching, resume reviews and training.

The launch of the site comes as the industry is at a crossroads. Baby boomer advisor retirements are gaining steam, with older professionals leaving the industry by the thousands each year. At the same time, demand for financial advice—especially among wealthy households—is soaring.

According to a recent report by consulting firm McKinsey & Co., these competing dynamics mean the industry could face a shortage of up to 110,000 advisors by 2034. To put that in perspective, the firm says the sector has added only 8,000 to its ranks over the last 10 years. FSI sees FinancialCareers.org as part of the solution.

In fact, the platform resembles what McKinsey said the financial services sector desperately needs: intentional, well-thought-out recruiting programs, including those that target women and people of color, who are greatly underrepresented among the advisor workforce.

“Today, only a few large wealth management firms pursue on-campus recruiting, structured internships and rotational programs to attract top talent,” the report stated. “Partially as a result, financial advisor does not seem to be a top-of-mind profession for most students.”

Ultimately, we launched the portal to reverse that trend. We are eager to tell the industry’s story and make it more attractive to young people, as well as professionals mulling a career change. If we can do that successfully, FSI will get closer to our goal of making financial advice accessible to every American who wants it.