How many financial advisers do you think will retire in the next ten years? Do you think it is more, or less than half of all existing advisers?
The answer, incredibly, is more than half. New research from Octopus reveals that 58% of advisers expect to retire within the next ten years, and nearly a third expect to retire within five.
How confident are we that the industry can fill that gap?
The adviser gap
We asked financial advisers for their thoughts on recruiting the next generation of advisers. We asked what barriers they face when hunting for quality candidates, and how they themselves got into the profession.
Interestingly, it’s much more than regulation making it difficult for people to become financial advisers. That includes, for example, a lack of awareness among recent graduates of the career opportunity.
Perhaps there is more that both advice firms and providers could be doing to encourage young people to take up the profession.
We explore this and the findings of our research in our report, The Adviser Gap.