There’s about to be a huge shortage of wealth advisors.

Employment of personal financial advisors is projected to grow 10% from 2024 to 2034, more than 3x the average for all occupations.

Why? Three things happening at once:

Wealth in America is growing fast

• The number of affluent households (those with $500K+ in investable assets) is growing 4-5% per year, vs. 0.6% growth in the overall population

Financial advisors are retiring and nobody is replacing them

• 38% of the current workforce is expected to retire in the next decade

People will still pay a premium for a human relationship

• 80% of affluent households would rather pay a premium of 50 basis points for human advice, 29% would be willing to pay a premium of 100 basis points or more.

If you're a college student stressed about AI taking entry level jobs, this might be a good field to consider.