The CFP Board announced on Wednesday that it has launched a career center to serve both firms seeking new talent and workers seeking new positions.
The CFP Board noted there are more advisors over 70 than there are under 30, putting the industry in a tenuous position as those older advisors begin their own retirements. Also putting pressure on the industry, according to the board, is an anticipated 27% growth in demand for advisors’ services.
“CFP Board is in a unique position to make meaningful connections between firms and those who are seeking financial planning positions in the financial services industry. The new Career Center will bridge the gap between those seeking talent and those looking to either enter the profession or further their career,” Kevin Keller, CEO of the CFP Board, said in a statement.
The career center will provide information for financial planning students like job and internship listings, as well as career management guidance for current advisors. There are also resources for employers to help write effective job postings to attract the best candidate for their needs.
Job seekers can post resumes and search for jobs for free on the site. Employers will be charged to post job listings, with rates starting at $350 for a single 30-day posting. Until Jan. 31, employers can post a job listing for 90 days for the same price.
Keller said in a webinar introducing the career center that as of Wednesday, the first day the center was live online, there are already about 100 jobs posted.
Fidelity Institutional is the founding sponsor of the career center. Jylanne Dunne, senior vice president of practice management, Fidelity Institutional Wealth Services, noted that financial planning firms are facing more challenges than they can meet by themselves.
“The talent crisis is an industry burden not to be solved by individual firms,” Dunne said in a statement. “As an industry, we all should get behind fresh resources and approaches like this Career Center in order to make real progress that will benefit the profession for the long term.”
“This online career center will benefit the public, employers and job seekers,” said Joseph Maugeri, managing director of marketing and corporate relations for the CFP Board. As older advisors retire, the industry will have to work hard to attract young people to the profession, he said, and resources on the site will help introduce students and job changers to the industry.
“The center will help replace ethical, competent financial planners needed in the workplace,” Maugeri said. “The public will be better served by our profession as a result of this new resource.”
“We’re most definitely different from most hosting sites because we have resources available for you to do research on your career and on becoming a CFP professional, “Lisa Andrews, manager of the career center, said during the webinar. Furthermore, “the vision for this career center in the future is to have coaches that will help job seekers as well.”
— Check out Hire Slow, Fire Fast by Mark Tibergien on ThinkAdvisor.