2 ways to rejuvenate the financial planning industry

Populations are aging across the globe—and the advisor population is no different.

That’s why, in the U.S., the CFP Board’s Center for Financial Planning is coming up with ways to expand the financial industry workforce, reports Financial-Planning.com. Two of its target audiences are young students and professionals who’ve left the workforce but who want to re-enter (e.g. those who have left to start families).

For workforce re-entrants, the Board is launching an internship program. It’s aiming for growth of the industry and more diversity.

To get the attention of high school and college students, the Board is taking a different approach: it will launch a video series about financial planning and what an advisor’s typical day looks like.

It’s particularly important to inspire students and young workers to join the industry, reports Financial-Planning.com, because it will help “rejuvenate an aging workforce, where there are more CFPs over [age] 70 than there are under [age] 30.”

The CFP Board is also researching disruptors such as robo-advisors (Read: How to stay relevant in the age of robos)

For more on mentoring and the diversity of the industry, read:

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