The cost of practising as an adviser continues to rise but latest figures show advisers' average wages have fallen year on year. Is the advice business lucrative enough to attract new blood?
Latest research from recruitment firm BWD suggests employed advisers’ average total earnings for 2012 were £62,838, a fall from £66,281 the previous year. The figure is lower for self-employed advisers at £60,533. Is this enough to bring in the quality professionals the industry needs? BWD highlights that it is vital for the health of the sector that average earnings for the adviser role are sufficient to attract a good flow of talent, particularly given that the bar has been raised with the requirement for a higher level of minimum qualification at QCF Level 4. Let’s not forget, the ...
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