If, as a financial adviser, you want to keep on building your business (and most, I can tell you, are more focused on ‘exit strategies’), wooing ‘Millennials’ is important. Also known (of course) as Generation X or, to you and me, twenty and thirty-somethings, they still want to talk to an adviser (their kids will be happier with robots, apparently), but to do the rest online. And they think we’re too expensive. posh and hard to find. Well, two out of three ain’t bad, I guess…
“Worry for profession as young adviser numbers plummet”
There are around 31,000 advisers currently authorised by the FCA to give advice. Of these only around 6% are under 30 and 84% of all advisers are male. There are 209,000 solicitors, 7,000 young ones enter the profession each year and 52% of all solicitors are now female.
