PA360: Financial advice faces recruitment 'double challenge' - Tom Hegarty

Apprenticeships as one solution to the shortfall

Victoria McKeever
clock • 1 min read

Financial advice faces a "double challenge" in recruitment due to an ageing demographic and the decline of traditional entry points into the profession, according to Tom Hegarty.

Speaking at the PA360 conference, the New Model Business Academy (NMBA) managing director said his firm had conducted a survey, asking its members about their background. The main points of entry, Hegarty (pictured) said, were tied sales, life and pensions companies and banking. "What is interesting is that tied sales, life and pensions and banking have kind of disappeared so they're not points of entry anymore," he commented.   While the average age of advisers varied depending on the source of research, Hegarty said it was always above 45. "Coupled with the challenges we face ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

AI's energy demands pose responsible investing challenge

AI's energy demands pose responsible investing challenge

Advisers must rethink sustainable investment strategies to balance returns and ESG goals

Sahar Nazir
clock 07 March 2025 • 2 min read
More female advisers 'key to closing gender advice gap'

More female advisers 'key to closing gender advice gap'

'We are still a long way from gender equality in financial services’

Isabel Baxter
clock 07 March 2025 • 2 min read
PA Asks: Has the FCA got its one-year email deletion policy right?

PA Asks: Has the FCA got its one-year email deletion policy right?

This week’s poll also looks at HNWI UK exodous and the IHT gifting regime

Professional Adviser
clock 07 March 2025 • 1 min read