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WINDSOR, Conn., March 24, 2015— A new LIMRA study of young financial professionals reveals 91 percent said they are satisfied with their careers. 

The Young Advisor Snapshot is the first report in a comprehensive LIMRA study that covers the experiences of young advisors from recruitment to the support they need for future success. 

“Young advisors expressed these high satisfaction levels because they feel the career has met their expectations in areas such as income potential, flexibility in work schedule and the opportunity to make a difference in people’s lives,” said Mary Art, research director, LIMRA. (Chart)

When asked why they chose the career, 6 in 10 young advisors said to make a difference in people’s lives.  “Making a difference was second only to income potential in our survey,” said Art (see video).  “In fact, among Gen X advisors making a difference in people’s lives was the number one response.”

Mary Art VideoThe study also revealed that today’s young advisors value both independence and collaboration. 

“For many years, financial services recruiters have emphasized independence and being your own boss as key benefits to the career,” said Art.  “Those qualities are still desired by today’s young advisors but they also put a high value on collaborative efforts such as having a mentor and engaging in partnerships. “

Three quarters of the young advisors surveyed said they had a mentor.  In most cases, the mentoring relationship developed naturally — only 18 percent said they were part of a formal mentoring program.  More than 8 in 10 advisors said the main advantage of a mentorship was having someone to turn to when they have a question.

More than half of young advisors partner with peers or other professionals at least some of the time.  The research found that formal teams exist more often in the affiliated investment channel, while affiliated insurance advisors were more likely overall to engage in partnering.  Looking ahead, 44 percent said they plan to partner more in the future.

The challenge of recruiting and retaining new advisors to replace an aging financial services sales force is widely known. Art said, “We conducted this research because our industry understands the importance of developing a sales force that can relate to future generations of consumers. “

For the Young Advisor Series LIMRA surveyed Gen X and Gen Y financial professionals age 40 and younger in the affiliated investment, affiliated insurance and independent channels. Additional reports in the series will examine specific phases of the research.


LIMRA Contacts  

Catherine Theroux, +1-860-285-7787, 
Mark Morris, +1-860-285-7875,

About LIMRA   

LIMRA, a worldwide research, learning and development organization, is the trusted source of industry knowledge, helping more than 850 insurance and financial services companies in 64 countries. Visit LIMRA at

Media Contacts

Catherine Theroux

Director, Public Relations

Work Phone: (860) 285-7787

Mobile Phone: (703) 447-3257

Brooke Lacey

Senior Public Relations Specialist

Work Phone: (860) 298-3920

Mobile Phone: (413) 530-6184

Bailey Reed

Public Relations/Social Media Specialist

Work Phone: (770) 984-3788

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