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More women and under-35s wanted by financial advice firms – Openwork

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  • 28/10/2020
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More women and under-35s wanted by financial advice firms – Openwork
Financial advisers want to recruit more women and younger employees to their firms, a survey by Openwork has found.

 

The study found a fifth of firms surveyed wanted to increase the number of women at their company while 59 per cent wanted to welcome staff under the age of 35.  

Despite improving sentiments towards the industry, advisers do not feel enough is being done to encourage people to join. This year, 64 per cent of respondents said they would recommend a career in financial advice to graduates and school leavers, up from just 48 per cent year. 

Information on the career choice was widely encouraged by respondents, as 84 per cent said they believed schools and universities should do more to highlight the benefits of being a financial adviser. 

Networks can also play a part in boosting numbers in the industry too, as 68 per cent of respondents said they should invest in training programmes. 

If not enough is done to bolster the profile of financial advice as a career choice, 42 per cent of firms predict the number of advisers in the UK will decline over the next year. 

Openwork wealth and platform director Mike Morrow said: “It is encouraging to see the number of advisers recommending a career in financial advice is so high and is rising. 

“That underlines the strength of the industry and the fantastic opportunities it has already provided for many. As demand for advice continues to grow the opportunities will increase.” 

He added: “The worries about a lack of recruitment are being addressed across the industry and at Openwork we are focused on encouraging young people and career changers to make the move with extensive investment in training.” 

 

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