Perhaps no other profession in the finance sector best encapsulates the progression and development taking place in the world of finance than a career as a financial advisor. Gone are the days when a professional career in finance meant being relegated to stockbroking, community banking, or insurance sales. Today private investors have access to fast-paced and flexible investment management tools and are always looking to trusted professionals who can help guide them in making wise choices with their assets. Here are three reasons why pursuing a top online MBA in Finance toward a position as a financial advisor would be a wise choice:
The position of a financial advisor has never been a hotter commodity within the realm of finance. With so many options for wealth management in both the public and private sectors, wise counsel over how to invest is needed now more than ever. Even with the advent of so many personal investment management tools offered online, the growth of the financial advisor position will continue to remain throughout the coming decade. Just a few short years ago there were just under 250,000 positions held by financial advisors and the growth in this field is projected to be an additional 73,900 new positions by the year 2024. There has never been a better time to seek a career as a financial advisor while so many progressive online MBA programs exist to equip students in this field.
Flexibility and Quality of Career
With the development of online management tools and more diversity within the world of finance, consumers are looking for more options in how they invest, yet still desiring to stay connected through personal financial counsel they can trust. Gone are the days of being confined within a cubicle and restricted by the 9 to 5 work day. Today’s financial advisors do well to nurture trust and confidence within the investor-to-advisor relationship; making it a point to set up meetings that feel as social and relationship-based as they do intentional and fiscal-minded. Successful financial advisors will create a schedule that optimizes their clients’ assurances in the management of their assets with the intent that the relationship will remain throughout the investor’s professional career and well into retirement. This approach will go far in stabilizing the future of one’s career amid so many pitfalls related to financial management decisions. The benefits felt within this career go beyond making wise financial decisions but also into the pride of knowing one’s advisement for a client is an important part of their family’s well-being. A financial advisor walks a client through adjustments needing to be made when life events occur, perhaps celebrating an upcoming wedding, and grieving when there is a death in the family.
Besides the median salary of $89,160 reported for financial advisors by the U.S. News & World Report in 2017, some of the highest paid positions earn well over $175,000 and can be found in metropolitan areas including Danbury, Connecticut and Gainesville, Florida. Many financial advisors working within investment firms also enjoy access to substantial bonuses connected with their clients’ investment performance. Coupling a high salary with a lower cost of education is an absolute benefit in any field but noteworthy especially within finance. Graduate students seeking a cost-effective education in pursuing a career in finance can benefit from low tuition fees and high pay scale salaries that many online MBA programs offer.