Do I Continue Working As a Financial Advisor? My Thoughts on Milestone 15 Year Anniversary

Do I Continue Working As a Financial Advisor? My Thoughts on Milestone 15 Year Anniversary

May 06, 2024

One day I went to work and left, never to return to that office again. What I did not consider in that moment were the ramifications of walking out and the decisions I would be forced to make shortly thereafter – the biggest one being: do I continue working as a financial advisor?

Ultimately, my decision came down to my relationship with my clients. When I thought about saying goodbye to them … well, I just couldn’t do it. I wasn’t ready to walk away from them and felt that if left to my own devices – no one telling me what to do, how to do it, that I had so much to learn, that I was too young, etc. – I would be just fine!

So, at the age of 26, I became an accidental entrepreneur. I worked from home for a month, until I could secure a new office and get myself up and running. Candidly, I knew nothing about running a business and the odds were not in my favor:

  • 80-90% of financial advisors fail and close their firm within the first three years of business
  • The average age of an advisor is between 51-55 years old
  • Approximately 70% of advisors are men
  • Only 24% of Certified Financial Planners® are women

And these are the current statistics! I am confident that the average age of an advisor was higher and the percentages of women in the industry and of female CFP® advisors were lower 15 year ago. Thankfully, I didn’t Google these stats 15 years ago because that would have been discouraging!

What is the point of sharing this story?

For a long time, I was embarrassed to share this part of my entrepreneurial journey. A planner by nature, I wanted it to seem like starting my own business was intentional and part of a plan.

Also, I am feeling a bit sentimental. April 2024 marks my 15-year anniversary with LPL Financial, and in 2025 I will celebrate 20 years as an advisor! This is the only job I have had since I graduated college – how many people do you know these days that can say that?

These milestone anniversaries are a testament to how much I enjoy working with my clients, the relationships I have built over the years, and the rewarding work of helping clients navigate their finances through different seasons of their lives. 

I am proud to share that we are currently serving four generations of families! Our average client age is 52, so we are working with that individual’s parents, adult children, and setting up 529 plans for their grandchildren – significant when you think about managing generational wealth!

What’s next for SMB?

Together we have discussed in detail your ambitions, plans, how long you want to work, etc. I think it’s only fair to share some of my plans. Don’t worry, I am not retiring! But I am at the midpoint of my career, and I have been thinking a lot about what the next 20 years will look like.

My plan for the next 20 years is to build a multi-generational team with different areas of expertise that will continue to serve our clients while I am working and long after I retire. That is part of what I want my life legacy to be. For you and your families, this means that there will be continuity and succession in place for decades to come.

A heartfelt thank you to my clients who have placed their trust in me and allow me to be part of their life journey. It is truly an honor to be able to do this work for you and your families! I am grateful for the opportunity to be a part of your lives and look forward to many more years!