Below-average occupational growth is expected in Alberta for 2016 to 2020. Job openings are a result of employment turnover and newly created positions.
Investment advisors work in the securities industry for investment and stock brokerage firms. Some of the larger investment firms hire summer students which provides excellent experience. Firms also recruit students on campus. New employees generally start in entry level Discount Broker positions.
Advancement in the investment field depends almost entirely on the initiative and ability of the individual. Some investment advisors become senior managers in their firms or move into senior financial positions in government or business.
Investment advisors are part of the larger 2011 National Occupational Classification 1113: Securities agents, investment dealers and brokers. In Alberta, 82% of people employed in this classification work in the following industries:
The employment outlook in this occupation will be influenced by a wide variety of factors including:
- trends and events affecting overall employment (especially in the Finance, Insurance, Real Estate and Leasing industry)
- location in Alberta
- employment turnover (work opportunities generated by people leaving existing positions)
- occupational growth (work opportunities resulting from the creation of new positions that never existed before)
- size of the occupation.
Over 1,800 Albertans are employed in the Securities agents, investment dealers and brokers occupational group. This group is expected to have a below-average annual growth of 1.1% from 2016 to 2020. As a result, 20 new positions are forecast to be created each year, in addition to job openings created by employment turnover. Note: As investment advisors form only a part of this larger occupational group, only some of these newly created positions will be for investment advisors.
Employment turnover is expected to increase as members of the baby boom generation retire over the next few years.