Thursday, April 18, 2024

There’s no better time to start thinking about how to become a financial advisor – so if you’re at the beginning of your financial career and are ready to take the next step, this blog is for you. Perhaps you’re currently in a trainee position, are a paraplanner looking to make the move into an advisory role, a mortgage adviser wanting to make the leap to financial advice, or are even currently working in a financial advisory firm in a business development role and aren’t sure about the various routes available to you. You can learn about the educational requirements to be a good financial planner, on this website:

We need financial advisers

One in five advisers are estimated to leave the industry in the next five years – which is around 7,000 advisers leaving the industry. That means only 18,000 advisers are expected to still be working in 10 years time – and unless the advisers exiting the industry are replaced by new recruits, the number of consumers accessing advice could be under one million in the next decade.

As a result, the cost of regulation will be split amongst an even smaller number of consumers, driving costs up even further again. However, with 42% of firms seeking to grow and transfer internally to a new management team when their current leaders exit, the industry needs new financial advisers to rise up the ranks and fill the looming adviser gap – so now’s the time to take the leap!

Why become a financial adviser?

Why become a financial adviser? Well, to put it simply, people need help with their money. Financial clarity and the comprehension of even some basic products is still very low amongst a substantial part of the population, which means financial advisers are in desperate demand. Not only that, but despite the highs and lows, the financial services industry remains a highly sought-after career for many ambitious professionals, with unparalleled career development and progression. There is also lots of creativity and the chance to be involved in one of the most dynamic industries in the world – and the salary rewards are unrivalled too.

Don’t think a financial adviser role is boring, either – there’s plenty of variety, and because you have the chance to build relationships by advising your clients on a range of different products and services, it’s very rewarding, too. Despite the rise of Fintech and robo advice, there’s still very much a place for financial advisers – and there always will be. After all, no matter how fast and efficient computers are, they will never replace real relationships and getting to know your clients to help them reach their goals.

The routes into financial advice

There are more than a handful of pathways into financial adviser roles, with most involving relevant qualifications, hands-on experience and on-the-job training. However, tangible information on how to break into the profession remains sparse, most likely because there are so many different training and qualifications options. If you’re confused about the different options available to you, here are a few of the different routes in:

As the need for financial advisers grows, we are seeing high numbers of trainee adviser roles opening up across the UK for fully qualified or part qualified candidates. However, these types of roles are not always advertised – so using an expert agency is often the best way to secure potential opportunities like these.

Ready to take the next step?

When deciding on your route into financial advice, it’s important to consider all of your options and make a decision that’s right for you. Do you want to learn on the job or would you prefer to study at university? Are you already working in an advisory firm? And what about exams – how long do you think you will take to complete your CII exams? Other things to think about include work/life balance and the type of working environment you want, as well as how much you want to earn.

A career in financial advice is incredibly rewarding: there’s plenty of variety, unbeatable training and development, and the financial rewards are unrivalled. If you’re ready to take the next step in your career, a specialist financial advice recruitment agency will be able to help you explore all the possible routes available and devise a clear, structured path into becoming an adviser so you can choose the right route for you. Speak to one of our expert consultants today to find out more.


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