Advisers on the ageing industry: 'Clients need to see a few grey hairs'

Only 5.7% of advisers in the UK are under 30, according the FCA

Julia Bahr
clock • 6 min read

Julia Bahr talks to advisers about the realities of working in an ageing profession...

Setting up academies that make the advice profession more accessible and attractive to the younger generation is among the actions advisers suggested to tackle the issue of its ageing workforce. According to various studies and publications, the average age of an IFA in the UK is 58 and one in five advisers plan to retire from the industry in the next five years. Only 5.7% of advisers in the UK are under 30, according to data published by the Financial Conduct Authority. Chapters Financial founder and Chartered financial planner Keith Churchouse says a recent prospective client not...

To continue reading this article...

Join Professional Adviser

  • 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

Women in Financial Advice Awards 2023: Nominations open!

Women in Financial Advice Awards 2023: Nominations open!

WIFA glittering awards ceremony set for 1 November

Professional Adviser
clock 28 March 2023 • 1 min read
Benchmark buys Chartered Northern Ireland-based adviser

Benchmark buys Chartered Northern Ireland-based adviser

Kennedy Independent Financial Advice now under Benchmark umbrella

Jenna Brown
clock 28 March 2023 • 1 min read
Novia founder co-lauches new firm focussed on low-value clients

Novia founder co-lauches new firm focussed on low-value clients

Hundreds and Thousands looks to answer a key Consumer Duty question

Hope William-Smith
clock 28 March 2023 • 1 min read