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The financial advisor does not need another financial advisor. The financial advisory industry is undergoing a dramatic shift. The traditional model of stockbrokers has been replaced by financial advisors who focus on a wider range of services, from retirement planning to wealth management.
The number of financial advisors has increased by 20% in the last five years, with the expectation that they will double again in the next five years. There are over 250,000 financial advisors in the United States today. It is projected that the number will increase to more than 400,000 by 2015.
Growing Numbers of Financial Advisors
It is a very good sign for this industry as it shows that it is moving in the right direction towards becoming more consumer-oriented and catering to different types of clients (Bishop 2008).
The argument made in this article tries to demonstrate that there are too many independent advisors in the country and how these independent advisors can be successful in their role.
One of the reasons why this industry is so dynamic is because there are over 400,000 financial advisors in the United States today. The number is expected to increase to more than 600,000 by 2015.
According to a survey conducted by the American Association of Independent Financial Advisors (AAIFA), more than 85% of all advisors will be independent financial advisors within the next five years. These numbers show that the growth of independent financial advisors is one of the major trends that are expected to continue in the next five years (Bishop 2008).
More than Expected
It is also a good sign for this industry as it shows that it is moving in the right direction towards becoming more consumer-oriented and catering to different types of clients (Bishop 2008).
According to David Bishop, there are too many independent financial advisors in America today. He also suggests that there are not enough independent financial advisors who are equipped with high-quality education and a client-centered approach.
The growth rate of independent financial advisors can be attributed to these factors, but he says that this will lead to oversupply and a decline in demand for advice services. This article attempts to address these issues and explain how independent advisors can succeed in their role.
This article makes the argument that there are too many independent financial advisors in the country and how these independent advisors can be successful in their role. According to Bishop, there are too many independent financial advisors in the country today.
He suggests that there are not enough independent financial advisors who are equipped with high-quality education and a client-centered approach. The growth rate of independent financial advisors can be attributed to these factors, but he says that this will lead to oversupply and a decline in demand for advice services.
The increase in the number of these advisors can be attributed to the rapid growth of this industry, but he says that this is leading to oversupply and a decline in demand for advice services (Bishop 2008).
