Young Professionals and Financial Services Careers Are Often a Great Match

By Angela White, Loyal Member Since 2017

Recruiting a younger, more diversified workforce is vital to the future success of the insurance and financial services industry and to providing financial security for all Americans. Fortunately, our industry has much to offer young professionals. It provides flexibility, autonomy and a type of ownership of your career path often not found in corporate America.

It also appeals to young people who want to help others. When you work with a family or small business to solve a problem or achieve a financial goal, the results are tangible and extremely satisfying. You know you are making a difference. We, as an industry, need to do a better job of finding the right young people and showing them how great a career as an insurance and financial services professional can be.

Too often, we look exclusively for candidates with strong financial or business backgrounds – finance majors or accounting majors, for example. Many of these students make excellent candidates, but if we restrict ourselves based on preconceived and outdated notions of who financial professionals should be, we are ignoring a massive pool of talent.

As a recruiter myself, I emphasize the people side of our profession. You can learn or get help with many of the financial and business aspects, but if you are unable to create and nurture relationships you will not succeed as an advisor. We need to be looking more closely at sociology majors, psychology majors, communications majors, and the like. These are students who are often people-centric and skilled relationship builders.

Diversity, equity and inclusion are also important considerations. America’s Main Street has changed and continues to evolve. Successful entrepreneurs and families in need of financial services include people of all races and ethnicities, immigrants, the LGTBQ community, single parents, blended families, and a multitude of others who have traditionally been underserved. While they are underserved, they are not underfunded. I passionately believe promoting DEI in our industry is simply the right thing to do to provide financial security and opportunities for all, but it also makes good business sense.

Recruiting and supporting the next generation of young agents and advisors is key to ensuring all Americans have a seat at the table and equitable access to the products, services and advice to achieve financial security and greater prosperity. It is also necessary to maintain a healthy, vibrant insurance and financial services industry.

Angela White is Co-Chair of NAIFA’s Diversity, Equity and Inclusion Council. Learn more at tdc.naifa.org/diversity.