Despite all the pitfalls and difficulties facing advisors, the next generation is pleased with their career choice.
A new LIMRA study of young financial professionals reveals 91 percent said they are satisfied with their careers.
The Young Advisor Snapshot is the first report in a comprehensive LIMRA study that covers the experiences of young advisors from recruitment to the support they need for future success.
“Young advisors expressed these high satisfaction levels because they feel the career has met their expectations in areas such as income potential, flexibility in work schedule and the opportunity to make a difference in people’s lives,” said Mary Art, research director, LIMRA.
When asked why they chose the career, 6 in 10 young advisors said to make a difference in people’s lives. “Making a difference was second only to income potential in our survey,” said Art. “In fact, among Gen X advisors making a difference in people’s lives was the number one response.”
The challenge of recruiting and retaining new advisors to replace an aging financial services sales force is widely known. Art said, “We conducted this research because our industry understands the importance of developing a sales force that can relate to future generations of consumers."
The Young Advisor Snapshot is the first report in a comprehensive LIMRA study that covers the experiences of young advisors from recruitment to the support they need for future success.
“Young advisors expressed these high satisfaction levels because they feel the career has met their expectations in areas such as income potential, flexibility in work schedule and the opportunity to make a difference in people’s lives,” said Mary Art, research director, LIMRA.
When asked why they chose the career, 6 in 10 young advisors said to make a difference in people’s lives. “Making a difference was second only to income potential in our survey,” said Art. “In fact, among Gen X advisors making a difference in people’s lives was the number one response.”
The challenge of recruiting and retaining new advisors to replace an aging financial services sales force is widely known. Art said, “We conducted this research because our industry understands the importance of developing a sales force that can relate to future generations of consumers."
