New research from TD Ameritrade Institutional found that one thing typically gets in the way of more people training to become financial planners: They do not know about it.
While just 37% of students surveyed are aware of the profession, 63% said they might be interested in it after they found out more about it, according to the research. With about 40% of financial advisors planning to retire in the next 10 years, according to Cerulli Associates, spreading the word about could help stem the coming talent shortage.
"They don't know that the [registered investment advisory] industry exists," said Kate Healy, managing director of Generation Next at TD Ameritrade Institutional. "So much of this is about the blocking and tackling of raising awareness."McKenna Jacobsen, a 23-year-old senior at Utah Valley, knew about the business growing up because her father is a financial planner.
Luke Dean, associate professor of personal financial planning at Utah Valley, said he uses a similar pitch to attract more students.
Because 90% of them are useless.
Good luck. You better have millions lined up to manage upon training completion.
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