Many financial advisors fail in their careers. In the United States, it is difficult for young certified financial planners to get a start due to tough competition from older, more experienced professionals who dominate the financial planning industry.

Most financial planners earn the bulk of their income from commissions versus fees, though people are trading less often. This makes it harder for up-and-coming planners to make money. Clients who have substantial portfolios are already working with financial planners with whom they have long-standing relationships. Meanwhile, people with new money want experienced financial planners they feel they can trust. This leaves new graduates struggling to establish themselves.

The number of financial planners who work independently has decreased significantly. Because of student loan loan obligations, it's hard for recent graduates to start their own firms without credit, experience and financial stability. You need money to make money in financial planning, and new graduates have a hard time finding money and clients.

The training programs available at large investment firms aren't as great as they used to be. The experienced planners who are making money don't want to share trade secrets and tips with the hungry graduates trying to get into the field. They want to keep the clients and commission for themselves.

Those who aren't making their clients satisfactory returns on their investments lose clients, and you can't get new clients without a successful portfolio.