Job prospects Financial Consultant near Charlottetown (PE)

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This occupation includes job titles whose primary duties and responsibilities lead to positive environmental outcomes. Job Bank uses a list of occupations that were identified as "green" through a task-based analysis conducted by the United States’ Occupational Information Network (O*NET), which was recognized by the Organization for Economic Cooperation and Development (OECD) and adapted to the National Occupational Classification (NOC) in Canada. This list may change over time. Learn more.

Over the past few years (2021-2023), the labour market was balanced for Other financial officers near Charlottetown (PE). The number of job openings was about the same as the number of workers available in this occupation.

Source Labour Market Information | Recent Trends Assessment Methodology

The employment outlook will be good for Financial advisors (NOC 11102) in Prince Edward Island for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to a moderate number of new positions.
• A moderate number of positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

This occupational group is particularly sensitive to changes in the finance and insurance sectors as almost all financial officers are employed in this sector, working at financial institutions such as banks, investment/securities firms, brokerage houses and insurance companies.

This occupational group contains several finance-related occupations that are similar but perform slightly differing tasks and require different training and experience. Individuals with knowledge of and experience in specific areas, such as financial planning, credit functions, insurance functions, asset underwriting or financial analysis, may have better employment opportunities. Depending on the type of financial service operation, employers may require recruits to hold a financial services certification, such as a Certified Insurance Consultant, Certified Financial Planner, Mutual Funds Licence, or to have completed the Canadian Securities Course. Continued population growth by way of immigration will support the demand for workers in this occupation over the forecast period.

Here are some key facts about Financial advisors in Prince Edward Island:

• Approximately 300 people work in this occupation.
• Financial advisors mainly work in the following sectors:
  • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 64%
  • Insurance Carriers and related activities (NAICS 524, 526): 15%
  • Federal government public administration (NAICS 911): 12%
  • Other professional, scientific and technical services (NAICS 5414, 5416-5419): 7%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 93% compared to 84% for all occupations
  • Part-time workers: 7% compared to 16% for all occupations
• 77% of financial advisors work all year, while 23% work only part of the year, compared to 59% and 41% respectively among all occupations. Those who worked only part of the year did so for an average of 46 weeks compared to 41 weeks for all occupations.
• 28% of financial advisors are self-employed compared to an average of 13% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 63% compared to 51% for all occupations
  • Women: 38% compared to 49% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 11% for all occupations
  • high school diploma or equivalent: 12% compared to 28% for all occupations
  • apprenticeship or trades certificate or diploma: 11% compared to 11% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 18% compared to 25% for all occupations
  • bachelor's degree: 47% compared to 17% for all occupations
  • university certificate, degree or diploma above bachelor level: 12% compared to 8% for all occupations

Source Labour Market Information | Prospects Methodology