New blood is coming from a “swathe” of second career individuals joining the advice sector, Consumer Duty Alliance CEO Keith Richards said at PA360 yesterday, which alongside the efforts of academies training graduates had helped reduce the average adviser age.
Speaking at PA's flagship adviser conference on 23 April, the Consumer Duty Alliance CEO said while there had been a reduction the total advice of firm numbers by 15% since 2021, the total figure remained at more than 5,000. He said some of the adviser firms that had disappeared from total official figures were now appointed representatives within consolidated structures. "Nonetheless, we're just over 5,000 regulated firms. We were in fear that we would end up with a number of these principals simply then, just after two or three years, exiting and all of a sudden, we'd end up with m...
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