Being a Financial Advisor is one of the greatest businesses in the world. It is rewarding not only from a financial perspective, but from an emotional perspective as well. Here is what a recent poll stated about the career.
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Financial advisors do what many people don’t like doing for themselves: figuring out how to manage their money. By meeting with clients and helping them determine budgeting and retirement plans, investing strategy and other financial responsibilities, advisors get their clients on track to meet their money goals. While many advisors start out working for larger financial services firms, about 20 percent work for themselves, often building up expertise in areas such as retirement planning or financial planning for small business owners. The National Association of Personal Financial Advisors notes other specialties as well, including planning for same-sex couples, newlywed investors and individuals with special needs.
This is expected to be one of the faster-growing occupations over the next decade, with a projected growth rate of 27 percent between 2012 and 2022, according to the Labor Department. That’s an additional 60,300 new positions on top of the 175,470 jobs financial advisors held in 2012. Demand for advisory services is expected to be driven by the wave of baby boomers retiring. (According to the Pew Research Center, the oldest of the boomers turned 65 in 2011.) At the same time, many companies are developing increasingly powerful online advisory tools that may meet consumers’ needs.