Wise Investing

Financial Services as a Career? Insight from Millennial Advisors

It’s no secret the financial services sector is an aging industry. According to industry reports and analysts, there are currently more financial professionals aged 70 and older than there are younger than 30. The inclusion of millennials into the financial sector is critical – both from a succession planning standpoint and because this unique generation offers a strategic relationship-building opportunity with young investors and clients over the long-term.

I checked-in with some of the millennial professionals here at Univest Wealth Management. Over the course of a three-part series on our blog, we’ll hear their opinion on a variety of different topics including what led them into financial services, the importance of mentoring to this “next generation” of advisors, and why working with a millennial advisor is a smart long-term financial planning choice.

To start, let’s find out what led them down this career path… 

Jordan Sowhangar, wealth advisor
Avid tennis player, loves the beach, attended Penn State

What led you to the financial services space?

I saw this industry as one I could make a difference in. If you don’t have some sort of passion for what you’re doing, you’re never going to succeed at it. Financial services is an industry that is complicated to many people, but one that I understand. I saw this as an opportunity to help people make sense of a complex area in their lives. Millennials want to make a difference in whatever job they are doing, and I think this is a big reason why many millennials well-suited to work in this space.

Tim Chubb, wealth advisor
Eagles and Flyers fanatic, bulldog owner, attended West Chester University

At what point did you realize you wanted to be involved in this career path?

Throughout my childhood, I enjoyed playing with numbers, reading about businesses, and eventually stocks. My late father devoured books and I always read whatever he finished – everything from economics to social psychology. I saw investment due diligence as an area where I could put these interests to work. I found a passion for balancing science and art as I manage investment portfolios. Early on it stood out to me that there are a lot of firms and advisors who have conflicts of interest in how they work with their clients and their clients had no idea. This drives me today and I always ask new clients what they want their relationship to look like with me and my firm. I think this approach can help change the perception of our industry.

Patrick Sabol, wealth advisor associate
Taught English in South Sudan, passionate about the outdoors, attended Franciscan University

Is there a reason that millennials are especially poised to work in this space?

The relationship aspect of advising drew me to the field, as I found the idea of working with individuals and families to plan for their futures as a very fruitful and rewarding career. I believe that working in the financial services industry has become increasingly attractive for millennials like myself due to its fast paced and ever-changing nature. We were raised in a society with a continually growing focus on the use of technology and media/communications in every field of work. The wealth management industry benefits from this with better access to information and methods of efficiency. Millennials are often the first to embrace this new technology which can help the firm better serve our clients.

Kelly Welch, wealth advisor associate
Piano player, frequents LBI with family, attended West Chester University

How did you get your start in financial services?

I began as an analyst intern in the financial services industry during college. After graduation, an important factor that drove me to continue my career in this industry was the fact that I was working with regular people I’d come across in everyday life. They have the same financial stories as my aunts and uncles, my friend’s parents, and my grandparents. I enjoy how relatable they are. I enjoy building relationships with our clients and I find it inspiring to see that the work we do can help our clients achieve their financial goals. 

Nathan Rosenberg, wealth advisor associate
Muay Thai kickboxer, rock climber, attended Indiana University of Pennsylvania

What about this profession stood out to you?

I have always enjoyed challenges and have found that the requisite research and analytical skills needed to make educated decisions when financial planning are mentally stimulating and exciting. You can often transform data into an idea and then see your decisions turn into positive outcomes for your clients. I was also lucky to learn a lot about the industry during my time in college. I earned the opportunity to manage an equity portfolio for the university’s foundation, participate in the CFA Institute Research Challenge and the ACG Cup, all while working locally as an equity research intern on the buy side. All of these experiences afforded me a deeper understanding of the industry and how it aligns with my interests. 

Check back on our next millennial-series blog post, where we’ll talk to our young associates about how important mentoring is to this “next generation” of financial advisors.

Could guidance from a trusted advisor be helpful in determining the best approach to your financial planning? Please feel free to contact us at 888-578-0770 to get a conversation started about working with our team of advisors to create a customized solution.

 

Securities and insurance products are offered through Univest Investments, Inc., member FINRA/SIPC and a licensed insurance agency. Investment advisory services are offered through Girard Partners, a Univest Wealth Management Firm. These affiliated companies are licensed subsidiaries of Univest Corporation of Pennsylvania. Products and services offered are not FDIC insured, are not a deposit of or bank guaranteed, and are subject to risks, including possible loss of any principal amount invested.


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