A demographic wave is creating a new category of entry-level employee: the retiree. Facing a shortage of financial advisors and a client base that increasingly trusts peers, major firms like Fidelity and Edward Jones have launched formal "Encore Career" internship programs. These are not for college students; they are intensive, paid training programs specifically designed for professionals retiring from other fields-such as teachers, nurses, or military officers-who want to become financial advisors.
These programs recognize the unique value of this demographic: life experience, trusted networks, and communication skills. The training focuses on licensing (Series 7, Series 66) and financial planning fundamentals, not on basic professional conduct. For the "un-retirees," it offers structure, mentorship, and a clear path to a second, purpose-driven career with significant earning potential.
This trend reflects a broader shift in hiring, where "affinity and trust" are being valued alongside technical skills. It signals to all career-changers that deep professional experience in any field can be the foundation for a successful pivot, especially in roles built on client relationships.
Source: Company press releases from Fidelity Investments and industry analysis from InvestmentNews.