Advisor Group, a network of independent broker-dealers, on Tuesday announced the results of a survey that asked college students how they viewed the financial services sector.
The study, conducted in conjunction with Texas Tech University, polled students in the school's personal financial planning and economics divisions to identify their future career aspirations and preferences: which aspects of financial services were attractive to them, and what might deter them from entering the field.
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"If we are going to be successful in attracting the next generation to our industry, it is critical that we gain a better understanding of their perceptions and priorities," Valerie Brown, Advisor Group's executive chairman, said in a statement.
Several themes emerged from the students' responses. For one, they prioritized purpose and innovation.
Thirty-eight percent of respondents said the ability to help people reach their life goals was the most attractive feature of the financial services industry, while 34% said the most attractive aspect was working in a dynamic and evolving industry. Thirty percent found the sector's earning potential most appealing.
Forty-four percent of aspiring financial services professionals in the study said achieving certification was their top priority. However, many respondents also reported concerns about the sector.
Asked which aspects of financial services might prompt them to look for a career in different industry, the public's perception of the industry loomed large, a concern of 40% of respondents.
