Why are so many fresh graduates becoming financial advisors?
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Seems like many fresh grads from NTU,NUS and SMU, not limiting to those who graduated with a business degree, are choosing the financial advisor route as a career. It’s like you can randomly throat a pebble at a crowd and there’s a high chance it’ll land on a financial advisor.
Why is that so? Is it due to Low barriers of entry? The possibility of high income if you “work hard”? The itch to “help the community”? Or is the market still in the recovery phase hence limited vacancies available in other industries?
Netizens’ comments
- They are insurance salesmen .. Financial advisors is too professional a term Some FA I talk to don’t even know what compounding interests mean
- there is no itch to help the community. dont believe their feel good bs. its always to line their pockets and push the highest comms.
- Low barrier to entry. It’s basically a sales job.
- All wanna flex that bm, gucci and rolex
- It’s because of network sales.
These financial advisory and wealth planning firms specifically aim their recruitment efforts at recent graduates. Once they are hired as financial advisors, they will sell these services to their peers who are also fresh grads, as most fresh grads don’t have insurance plans.
When these financial advisors progress in their careers and attain senior positions, they adopt a similar approach by recruiting new graduates and taking a portion of their commission as compensation. - Fresh grads also becoming property agent. What’s the point of doing a degree then
- Lured by the prospect of money. To be honest, those who are good at sales will really bring in big bucks as a financial advisor. And these are the top 1% results that they use to sell to fresh grads. They don’t show them the FAs who are struggling.