Job prospects Financial Consultant in Newfoundland and Labrador

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Explore current and future job prospects for people working as a "financial consultant" in Newfoundland and Labrador or across Canada.

Job opportunities in Newfoundland and Labrador

These outlooks were updated on December 11, 2024.

Prospects over the next 3 years

The employment outlook will be moderate for Financial advisors (NOC 11102) in Newfoundland and Labrador for the 2024-2026 period.

The following factors contributed to this outlook:

• Employment is expected to remain relatively stable.
• 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.

Here are some key facts about Financial advisors in Newfoundland and Labrador:

• Approximately 500 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): 83%
  • Insurance Carriers and related activities (NAICS 524, 526): 10%
• The distribution of full-time and part-time workers in this occupation is:
  • Full-time workers: 93% compared to 83% for all occupations
  • Part-time workers: 7% compared to 17% for all occupations
• 84% of financial advisors work all year, while 16% work only part of the year, compared to 56% and 43% respectively among all occupations. Those who worked only part of the year did so for an average of 48 weeks compared to 40 weeks for all occupations.
• 33% of financial advisors are self-employed compared to an average of 8% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 50% compared to 51% for all occupations
  • Women: 50% 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: 13% compared to 27% for all occupations
  • apprenticeship or trades certificate or diploma: 9% compared to 17% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 26% compared to 23% for all occupations
  • bachelor's degree: 42% compared to 14% for all occupations
  • university certificate, degree or diploma above bachelor level: 10% compared to 7% for all occupations

Breakdown by region

Explore job prospects in Newfoundland and Labrador by economic region.

Source Labour Market Information | Prospects Methodology