Advisers call for new initiatives to attract industry recruits

48% of those questioned would recommend becoming a financial adviser to those considering a career change while 46% believe it would be a good career choice for school leavers and graduates.

However advisers say more needs to be done to encourage expansion in the number of advisers. 72% believe there needs to be a coordinated approach by industry trade bodies and financial service providers to attract more recruits.

More than half want the Government to consider sponsoring initiatives to attract more advisers into the industry while two thirds (66%) of those asked said that providers should expand their apprenticeship programmes to attract and train potential future financial advisers.

Claire Limon, Director of Learning and Acquisition at Openwork, said: “The fact that so many advisers would recommend a career in financial advice is testament to the industry itself and the fantastic opportunities it has already provided for many.

“As the demand for advice continues to grow it’s great to see that advisers are positively recommending the profession. That said however there are concerns about the flow of new recruits into the industry.

“At Openwork we are passionate about encouraging both ‘career-starters’ and ‘career-changers’ to consider a career in financial advice and we are dedicated to attracting as diverse talent pool as possible. Our Academy programme welcomes people from all walks of life to pursue a career in the advice industry.”