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

Autumn Budget 2025: Chancellor mulls minimum UK shareholding in major ISA reform - report

Autumn Budget 2025: Chancellor mulls minimum UK shareholding in major ISA reform - report

The updates advisers need in the run up to the Autumn Budget 2025 on 26 November

Professional Adviser
clock 20 October 2025 • 1 min read
TISA warns FCA's targeted support could 'cause confusion' and hinder rollout

TISA warns FCA's targeted support could 'cause confusion' and hinder rollout

Industry group calls for more flexibility on disclosure

Sahar Nazir
clock 17 October 2025 • 2 min read
You can always make more money, but you can't buy more time

You can always make more money, but you can't buy more time

What’s the ROI on a memory that lasts forever?

Chris Ball
clock 16 October 2025 • 3 min read