Employment of personal financial advisors is projected to grow 30 percent from 2014 to 2024, much faster than the average for all occupations.

The primary driver of employment growth will be the aging population. As large numbers of baby boomers approach retirement, they will seek planning advice from personal financial advisors. Also, longer lifespans will lead to longer retirement periods, further increasing demand for financial planning services.

In addition, the replacement of traditional pension plans with individual retirement accounts is expected to continue. Many people used to receive defined pension payments in retirement, but most companies no longer offer these plans. Therefore, individuals must save and invest for their own retirement, increasing the demand for personal financial advisors.

Job Prospects

Job prospects for personal financial advisors should be relatively favorable compared with prospects in other financial sector occupations. Those who obtain certification will likely have the best prospects.