“Why more young advisers are needed to replace those retiring”

Oct 6, 2022 | Financial Services

The average age of a financial adviser is 59. Many of those above the average are hoping to hang up their laptops and swap their brogues and ties for sandals, socks and cardigans in the not too distant. 75% of advisers are over 40 and only 8% under 30. And one other stat, of the total, just 16% are female. By contrast, over 50% of doctors are under 40,  60% of those female; with both accountants and solicitors it’s 50/50. So something has to change; and we’re doing our bit. We’re already ‘gender balanced’, and have a new under-30-year-old female trainee adviser joining us in a couple of weeks. As regular readers will know, I’ve long campaigned for socks and sandals to be banned and have never owned a cardigan, so am planning, You-Know-Who willing, to carry on for a while yet. Sorry.

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“Simon Evan-Cook: FCA must wake up to consolidation damage”

“Simon Evan-Cook: FCA must wake up to consolidation damage”

This is where I can don my ‘been around the block, seen it all before’ mantle. What’s happening in our business/industry/profession at the moment is a lot of what’s become known as consolidation, big companies, many fuelled by private equity, buying up smaller firms or taking over the clients of retiring advisers.