Yes, hiring financial advisers is tough

Pool of available talent can't meet demand, analysis finds

Feb 2, 2017 @ 10:02 am

By InvestmentNews

If advisory firms and broker-dealers are finding it difficult to find qualified financial advisers, the numbers back them up. A report from job search portal CareerCast.com finds that financial advisory jobs are the second most-difficult jobs to fill.

Based on data from the Bureau of Labor Statistics (BLS), industry reports and its own database, the company said that financial adviser jobs rank just behind data scientists as the category most in demand. These top two are followed by jobs for general and operations managers, home health aides and information security analysts.

Meanwhile, demand for advisers is growing. At 30%, the growth outlook for financial advisers ranks third through 2024, according to BLS, behind home health aides and physical therapists, where growth is expected to be 38% and 34%, respectively.

In terms of median salary, BLS says financial advisers rank fifth at $89,160, behind data scientists ($128,240), software engineers ($100,690), general and operations managers ($97,730), medical services managers ($94,500) and information security analysts ($90,120).

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