Is PWM/PB still a viable career path?

Is it risky for a college undergrad to go into PWM or PB with robots and passive investing taking center stage?

If someone is interested in PWM/PB should they pursue it or pick something else, if so, what is the alternative? Are there any jobs in finance related to investing or the market since most of the jobs related to this are disappearing (S&T, ER, AM)

 
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As someone who has worked in PWM, I think this is a great area to be for a few reasons. One being that the average age of an advisor is mid 50s. As millenials get older, they will need advisors and they will want someone younger.

Onto my view on Robo advisors....... robo will never replace advisors. They aren’t even going after the same market. High net worth clients are extremely needy and Need personal service. What robo does is give people with under $250k easy access to the markets.

PWM/PB is a hard business in the beginning, but there is a lot of money to be made and you can’t ask for a better lifestyle. There are plenty of advisors out there taking home $500-1 mil a year working 30-40 hours a week. (After years of building their book of course)

 

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