A question for CFP's and financial advisors...?

Question: I would like to know if professional financial planners believe there will still be a demand for their profession in the next 5 to 10 years? Or do you think the field will be "saturated" by that point?

Answer:
I believe the demand for financial planners/advisors will continue to grow over the next 10 years, because of two factors: 1) the people of the world continue to accumulate investment assets, and the rate of accumulation is growing, and 2) the current model, (i.e. stockbrokers) is flawed with an inherent conflict of interest (their commissions vs your returns) and that model is being replaced by fee-based systems which do not have that conflict. By normal definitions, the market is 'saturated' already, there is no shortage of advisors, which means that the field will become more competitive, and this is happening already. One good example is the explosive growth of exchange-traded funds, which are low cost, diversified, and liquid.

---

More Related Questions & Answers...

What does it take to be a successful financial advisor?

I want to become a financial advisor can anyone tell me what qualifications i need to achieve this?

As a business owner do I need to provide an outside financial advisor/educator for my employees?

How do I find a trustworthy tax accountant and financial advisor in my area?

Why do financial advisors like to recommend/include mutual funds in clients' portfolios?

Hi Financial advisors out there in US!!?

How can I find a financial advisor in Montreal?

What exactly does a financial advisor do?

Do I need a financial advisor?

Any attorneys turned financial advisors out there?