Why Job Hopping Is Not Ideal For Your Financial Advising Career

Today, many workers are reaping the rewards of job hopping – gaining sizable pay rises and exponentially accelerating their career progression.

But, this isn’t the case for every industry.

Because the finance industry is highly competitive, financial advisors are constantly seeking new opportunities to move the needle forward and improve their earnings. However, one common trend that can hinder long-term success in this field is job hopping. While it may seem tempting to switch jobs frequently, this article will outline the reasons why job hopping is less beneficial as a financial advisor and how choosing the right financial firm for you can help you focus on building a prosperous practice.

 

What Is Job Hopping?

Job hopping refers to those who change jobs frequently and voluntarily. Often this period of time between jobs, positions, or careers is less than two years. While frequent job changes were once seen as a red flag on someone’s resume, today, job hopping has become more common and more acceptable.

Now, with that said, just because it’s more common and more acceptable doesn’t mean it’s right for you. Especially as a financial advisor.

 

 

3 Reasons Job Hopping May Not Be Beneficial As A Financial Advisor

Since your career is built around people – not just yourself, job hopping is less ideal as a financial advisor.

 

#1 CLIENT RELATIONSHIPS

One of the most critical aspects of being a successful financial advisor is building trust with your clients. Trust is the foundation for building these necessary long-term client relationships. Long-term is key here.

By consistently changing jobs, you begin to diminish this sense of trust and raise doubts in the minds of your clients. Your job as a financial advisor is to help ease your clients’ worries and reassure them that the decisions you’ve collaborated on are not only the right decisions but the best decisions for them and their goals.

Being a job hopper as a financial advisor may have your clients questioning your commitment, experience, and expertise, leading them to seek advice elsewhere. 

And no one wants that. 

When it comes to your clients’ livelihood (and dollars), demonstrating loyalty and stability, helps build confidence in your clients, reinforcing the belief that you truly have their best interests at heart.

 

#2 BUILDING A NETWORK

Building client relationships also helps build your network. And the financial services industry thrives on professional relationships and networking. 

Building your strong network of contacts can open doors to new opportunities, referrals, and valuable connections. However, job hopping limits your ability to establish and nurture these relationships effectively. 

When you remain with your chosen firm for a longer period, you have the opportunity to develop deeper connections with colleagues, clients, industry experts, and centers of influence. These relationships can provide valuable mentorship, business collaborations, and future career prospects that may not be as easily accessible through job hopping.

 

#3 PROFESSIONAL REPUTATION

We surely don’t need to remind you of this, but your reputation as a financial advisor is everything.

And building a solid reputation takes time.

Think of where you are today – how long did it take you to get there? How many conversations did you have to get there?

While you won’t necessarily be starting over if you switch firms, it will take additional time to rebuild that reputation in a new circle, with a new firm behind your name.

Building your reputation requires consistent effort and a commitment to yourself, your work and your clients. By staying with a firm long-term, you have the opportunity to:

• Establish yourself as a trusted advisor
• Build a robust online presence
• Cultivate a positive reputation in the industry

A strong professional brand attracts new clients, creates robust business opportunities, and propels the trajectory of your career forward.

 

How Can You Choose The Right Firm For Your Financial Advising Career?

At this point, it might be evident that you have the desire to build a long-term partnership with one firm for your career. But, what if you don’t align with your current firm? Where do you go from here?

Advisors might find themselves job hopping for a few reasons:

• Misalignment in planning philosophies
• Poor culture fit
• The fear of rejection
• Inability to establish the right target market

This misalignment makes it difficult to build a thriving practice, leaving advisors looking for new opportunities sooner than expected.

If you want to make sure your next move as a financial advisor is the right move, talk with our recruiters on how you can have a practice building first year at Consolidated Planning.

 

 

2023-158156 Exp. 7/2025