Name: Tips for Transitioning Into Becoming a Financial Advisor
Uploaded: 2025-05-22T15:00:00Z
Duration: 1 min 57 s
Description: With the vast majority of new advisors failing to last five years in the industry, Kaden Bernstein, a financial advisor at Morgan Stanley, offers advice for those considering entering the profession.

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Under CEO Cristiano Amon, semiconductor company Qualcomm is bringing its technology to multiple industries. This conversation was recorded on May 28, 2025.

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How This Massive NYC Health System Changed Its Business Model

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Why Aon's CEO Is Betting on GLP-1 and Other Weight-Loss Meds

"It creates opportunity, which is terrific, but it also creates volatility," said Greg Case, CEO of Aon, talking about the connectivity and complexity underpinning today's business environment.

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Why Aon's CEO Thinks Volatility Isn't Going Anywhere

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4 Megatrends That Cause Volatility in the World: Aon CEO

Scott Bok, the former board chair of the University of Pennsylvania, breaks down the financial risks and implications that come with removing tax-exempt status from colleges and universities.

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Taking Away Tax-Exempt Status: A “Nuclear Weapon Against Universities”

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Saira Malik, chief investment officer of Nuveen, makes the case for more gains in 2023.

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S&P 4700?

David Bailin, chief investment officer of Citi Global Wealth, offers his take on the latest IPO activity and what it says about the strength of capital markets.

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IPOs: Making a Comeback

Chris Harvey, head of equity strategy at Wells Fargo Securities, explains what would make him more bullish on stocks and when he sees a Fed rate cut coming.

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Cuts on the Horizon?

Tom Kennedy, chief investment strategist for J.P. Morgan Global Wealth Management, explains why he thinks concerns around a slowdown in China are overblown.

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Evaluating China Risk

Liz Young, head of investment strategy at SoFi, discusses how market moving the August inflation data could be.

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Inflation in the Spotlight

Lindsey Piegza, chief economist at Stifel, offers her take on the biggest risks to the economy right now.

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Assessing Economic Headwinds 

Dan Ives, managing director and senior equity analyst at Wedbush Securities, explains why he thinks Apple will continue to be a market leader.

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Prove-me Moment

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Gearing up for a Rally

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Rate Hikes in the Rearview?

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Pricing Pressure & Frothy Valuations

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September to Remember? 

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Hitting a Wall

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Two Ways to Play

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The Fed's Rate Pause, Explained

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What Happens When a Stock Delists?

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Is Electric Vehicle Demand Cooling Off? 

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The Outlook for Oil

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Bitcoin as 'Digital Gold' 

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The $600,000 Case for Bitcoin

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Bond Funds or Individual Bonds?

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Chipotle's CEO on How He Plans to Double the Business. Again.

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Ford CEO On the Outlook for EVs and Robo Cars

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Inflation, Attractive Bonds, and Value Abroad

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Ready for a Revamp?

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Investing in Cryptocurrencies

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Protecting Your Nest Egg from Rising Prices

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Don’t Trim Your Inflation Hedges

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With the vast majority of new advisors failing to last five years in the industry, Kaden Bernstein, a financial advisor at Morgan Stanley, offers advice for those considering entering the profession.

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Tips for Transitioning Into Becoming a Financial Advisor

Let's kind of break down the transition into becoming an FA. There's a high failure rate. And if you look at it the first year, it's really that initial transition into the field from outside. That second tranche is the first year of becoming an FA, and there's about a 20 to 30% failure rate.

Yes.

And then that last sort of tranche is the first five years where there's actually an 80 and 90% failure rate. So a lot of people drop out, and I would love to break this down with you, so that first, sort of transitioning to finance, what were some of the reasons besides your character that you would wanna do CFP as opposed to CPA?

Yeah, I think it's significantly more hands-on. So I think being a CPA, obviously your clients are leaning on you more for tax advice. Whereas as a financial advisor or CFP, you have to be so much more well-rounded, right? So, we're making significant impact within clients' lives in every area, not just taxes. So, I loved the idea of being very hands-on with clients, whether it be for a home purchase, obviously helping them manage their investments, getting involved with their kids, things that a CPA might not necessarily be doing, but a financial advisor, of course, that's an expected role that you're gonna play.

And you don't have to get all your certifications upfront with the CFP. You can kind of be on the job, you can still take it in income as you're getting your certifications. I think that's always really important for individuals thinking about getting into the career, because with a CPA, you sometimes have to do almost like another degree.

You do.

Essentially.

It's another degree. Whereas you can work in this industry, certified financial planner is not a requirement, nor is any designation, but you have that flexibility to get that in your own time while still building your business.

Tips for Transitioning Into Becoming a Financial Advisor

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