The Flexible Schedule of a Financial Advisor: Insights from Industry Experts

Working as a financial advisor can be a challenging but rewarding career. The number of hours required can vary widely depending on a range of factors, from the number of clients a financial advisor has to the nature of the services provided. In this article, we explore the typical schedules of financial advisors and hear from industry insiders about their experiences.

Industry Insights

The workload for a financial advisor can range from 40 hours a week to upwards of 80 hours. For instance, a financial advisor based in Pune, India, noted that their schedule typically aligns with a standard 40-hour week. However, the demand for client services can influence the hours drastically. Some advisors find themselves working beyond regular hours to meet client needs, particularly during evenings and weekends.

Personal Experiences

One financial advisor shares insights from their journey in the industry, noting that they initially worked an intensive 80 hours a week in their early days. Over time, they were able to scale back to 15 hours a week focusing on their practice, allowing them to engage in other ventures. They have been in the business for 8 years and have restarted their practice three times, based in Halifax in Nova Scotia, Canada, as well as Portland in Oregon, and Ottawa in Ontario, Canada. This flexibility is remarkable and showcases the ability to adapt to changing market demands and personal goals.

Another seasoned professional reflects on their career, mentioning that they initially worked 60-80 hours a week when they first started in 1994. Over time, the introduction of technology has significantly improved the work-life balance, allowing them to avoid the long hours typically associated with an office-based job. They now enjoy a more normal workweek, indicating that the industry is evolving and becoming more manageable for those in the field.

Long-Term Evolutions in the Field

Reflecting on their 45-year career, a more experienced advisor speaks of the significant changes in their weekly schedule. They note that when they first started, the workweek averaged 50-65 hours, but this decreased to 40-50 hours after three years, when they hired an assistant to help manage the workload. Over time, as the practice grew, they continued to adjust their schedule to manage staff more effectively, eventually reaching a 45-55 hour workweek when more staff were available. By the end of their 35-year career, they took Fridays off, continuing to stay updated through professional reading, even when not on the job. This reduced to 30-35 hours a week during their retirement, highlighting the significant shift and adaptability of the field.

Conclusion

The number of hours a financial advisor works can vary greatly, but the flexibility and adaptability that characterize this profession are notable. From 40 to 80 hours a week, and from bustling early careers to a more relaxed late career, the field continues to evolve, providing both challenges and opportunities for professionals.