If you’re an adviser, and have been so for any length of time, it’s pretty much inevitable that you’ll be dealing with divorce (of clients, the job’s not that bad) about as often as, sadly, death (again, of clients etc.). Most of those in the early days will tell me that everything is amicable, they’re sorting out the finances between them, probably no need to involve costly solicitors and other legal stuff. But although you’re encouraged to work out the ‘who gets what’, as far as possible, between you, making it happen will usually need some legal and financial advice help, most definitely if pensions are involved. They can’t be passed on or separated without a sharing order issued by the court. My advice, for better or worse, is usually to ‘get legal’ sooner rather than later, as the later may end up costing you more (and often be complicated by the arrival of other parties on the scene). And if there’s any degree of complexity to your affairs, you’re likely to need us too. Again, sadly, and for better or worse.
“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.
