There are around 23,000 individual financial advisers in the UK, a third less than there were only a decade ago.
And their average age? A not-particularly-youthful 58.
A shrinking population therefore, and an aging one – which is a problem in a marketplace for which there is unquestionable demand from clients seeking to build better financial futures through professional financial advice.
Many of today’s advisers were trained in companies that either no longer exist or no longer offer financial advice – and that has without doubt impacted both the size of the adviser population today and its trajectory looking ahead.
Unlike other marketplaces therefore, where you could (perhaps somewhat cynically) hire already-trained staff from your competitors to fuel your growth plans, the scope for in-market recruitment is limited. Either advisers are more interested in retirement than their next job, or they perhaps wouldn’t be suited anyway to the sort of business you’re trying to build.
These were both issues for Onvestor as we began the process of rapidly-expanding our business 18 months ago, and led us to some very clear-cut conclusions…
The solution? Opening a financial advisory academy in conjunction with Anglia Ruskin University – one of the UK’s Top 40 universities, and dubbed one of the ‘20 rising stars’ in global higher education.
We’re hugely excited by this development, and take on our first students in January 2019. Our intensive programme takes 4 months to complete, at which point they will mentored by existing advisors to a level of competency at which they become fully-fledged advisers – we think on a timeline quicker than anywhere else in the industry.
Our candidate universe is very diverse – from new graduates to people wanting to climb the career ladder in the industry to people from entirely different industries. What unites them all is an interest in all things financial, and a passion for having a positive impact on people’s lives.
If you think this is something that could interest you, don’t hesitate to contact us.