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

Advisers call on chancellor Healey to back business and revisit IHT reforms

Advisers call on chancellor Healey to back business and revisit IHT reforms

New chancellor will need to ‘stand fast on the plans ahead’

Sophia Panayi
clock 21 July 2026 • 3 min read
The two clocks of Burnhamism: Markets on Monday, clients over a decade

The two clocks of Burnhamism: Markets on Monday, clients over a decade

'Social care is the planning earthquake'

Phillip Wickenden
clock 21 July 2026 • 5 min read
HMRC social media scam report email used just three times

HMRC social media scam report email used just three times

‘Dispiriting’ figure suggests public knowledge gap on fraud reporting

Jen Frost
clock 20 July 2026 • 5 min read