Financial advice – the career of choice for young professionals and the SA economy

Aubrey Faba, Channel Director at Momentum Financial Planning, highlights the rising appeal of careers in financial advice for this new generation. Known as the "slasher generation" for juggling multiple roles, these young professionals can find meaningful and financially rewarding opportunities as financial advisers.

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In the rapidly evolving world of work, traditional career paths are becoming a thing of the past. The days of sticking to one profession or even with one employer for life have quickly been replaced by a new generation of professionals – but are they truly happy with the status quo?

This younger workforce has been dubbed the slasher generation. They engage in ‘slash professions’ by pursuing multiple income streams or job roles simultaneously rather than committing to a single profession or employer for their entire career. According to Aubrey Faba, Channel Director at Momentum Financial Planning (MFP), this is the perfect time for young professionals to consider pursuing a career as a professional financial adviser.

“There lies a unique opportunity for young professionals to carve out a rewarding career path that not only offers financial stability but also the chance to make a meaningful impact in the lives of others,” says Faba. “At MFP, we want to redefine what it means to be a financial adviser in today’s world. We invite all keen young professionals to join us on this transformative journey.”

The need for a new generation of financial advisers

Like most of the world, Faba says South Africa is facing significant economic challenges, with many grappling with financial insecurities and a lack of adequate financial literacy. He says the need for knowledgeable and relatable financial advisers has never been more pressing.

Faba says empowering a new generation of financial advisers is essential for true economic empowerment in South Africa. However, to bridge the age gap and meet the evolving needs of clients, the financial planning industry requires a radical generational transformation.

“In today’s fast-paced world, South Africans are looking for advisers who not only understand their financial goals but also resonate with their life experiences and aspirations. This is where the power of youth comes into play.”

Faba says a younger population requires a youthful perspective and drive. By becoming a financial adviser, she says young professionals can leverage their unique insights and energy to connect with clients on a deeper level, helping them navigate their financial journey with confidence and clarity.

Why it makes sense in the modern business landscape

In a world where “quiet quitting” is becoming more common and young professionals are becoming more despondent, Faba says becoming a financial adviser provides a meaningful and fulfilling career path.

“Becoming a financial adviser offers substantial benefits, including high earning potential and a flexible schedule. Financial advisers can earn significantly. Some institutions provide a base salary plus commission, while some advisers have the opportunity to increase their earnings by expanding their client base.”

Additionally, Faba says working as a financial adviser allows for a flexible schedule, enabling young professionals to arrange client meetings at convenient times as they are not office or desk bound. “This flexibility often permits advisers to complete their work in fewer hours than a standard workweek while still maintaining a high income. The perfect fit in an economy where multiple income streams are becoming a basic requirement for survival.”

Embrace the advisory opportunity for you and SA

Faba says the evolving nature of modern work presents an ideal opportunity for young professionals to redefine their career paths, and becoming a financial adviser is a compelling option. “With significant earning potential, a flexible schedule, and the chance to empower others through financial literacy, young professionals can find a fulfilling and dynamic career in financial advice.”

As South Africa faces economic challenges, the need for a new generation of knowledgeable and relatable financial advisers is crucial. “Leverage your unique perspectives and energy to connect with South Africans, navigate financial journeys, and contribute to true economic empowerment.”

Faba invites all aspiring advisers to embark on this transformative journey and shape a brighter, more inclusive future for financial planning and greater economic success.

Aubrey Faba, Channel Director at Momentum Financial Planning
Aubrey Faba, Channel Director at Momentum Financial Planning

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