Will My Financial Advisor Job Last?
Financial AdvisorOverall Assessment
Basic investment management is being automated through robo-advisors. Financial advisors must provide value beyond portfolio allocation through comprehensive planning, behavioral coaching, and complex situations like business sales or estate planning.
Task Automation Timeline
3 Years
35%
tasks automated
5 Years
50%
tasks automated
7 Years
60%
tasks automated
Routine Task Automation
55%
Portfolio allocation and basic planning are robo-advisor territory.
Complex Task Automation
35%
Complex planning and behavioral coaching need humans.
Job Market Outlook
-10%
Robo-advisors reduce need for mass-market advisors.
Wage Pressure
40%
Fee compression from low-cost alternatives.
Reskill Urgency
55%
Advisors must differentiate from robo services within 2 years.
Steps to strengthen your position
- 1Develop comprehensive financial planning expertise
- 2Focus on complex situations like business owners
- 3Build behavioral coaching and client psychology skills
- 4Consider specializing in tax planning or estate planning
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