Retiring armed forces personnel should be seen as a ripe hunting ground for new advisers, according to Lighthouse chief executive Malcolm Streatfield.
The debate about where new entrants to the industry will come from is a long standing one, though the much anticipated adviser exodus as a result of the Retail Distribution Review (RDR) has not materialised.
According to figures compiled by the Financial Conduct Authority (FCA), the number of financial advisers operating in the UK rose 6% to 20,453 in the first half of the year as intermediaries re-entered the market.
However there are several thousand fewer advisers operating in the UK today compared with three years ago, and FCA chief executive Martin Wheatley admitted in September that he was concerned about a drop in adviser numbers.
Lighthouse reported an 18% drop in adviser numbers for the six months ended 30 June, which hit its revenue and profit figures, though average revenue production per adviser rose by 3%.
On where replacement advisers will come from, Streatfield (pictured) said the industry needs to think wider than recent graduates.
"All three armed forces will be downsized over the next three years. Among those leaving the services will be well motivated, intelligent and disciplined people who have served for ten years and are looking for another career.
"If you can make financial services attractive as a career prospect you could see them being retrained for the advice sector."
Streatfield would like to see current financial advisers going in to talk to groups of armed forces personnel to discuss the prospect of them joining the profession.
He said Lighthouse has the capacity to take on some trainees and would be "delighted" to do so.
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