Recruitment is a perennial problem in the IFA sector and Albemarle Street Partners' recent Coalition of the Independent research suggested there is a need for the development of a dedicated academy to train new advisers, says Charlie Parker. But the question is: who should pay for it?
The problem of age has been long discussed in IFA circles, but few solutions have been put in place to address the fact that the industry struggles to attract new recruits and the average age of advisers is ‘over 50', according to the Financial Conduct Authority (FCA). Recruiting fresh blood into the sector isn't just a problem for individual firms day-to-day, it broaches a wider issue of succession planning, or the lack of, and feeds into a more worrying trend of IFA consolidation. Retiring advisers are being forced into the arms of consolidators for lack of a better option. The Coal...
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