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

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...