ur new research shows the numbers of people considering a career in financial advice is surging in response to growing demand for support.
The nationwide study shows nearly six out of 10 adults (59%) would consider a career as a financial adviser – a dramatic increase on the 45% who were interested in an advice career when Openwork last researched the subject in March 2019.
The research shows found that over half of women surveyed said they would consider a career as an adviser (54%) but careers in advice remain more popular among men with 65% looking at become advisers.
The future of the industry looks very positive as a staggering two thirds – around 66% - of 18-24-year olds would be interested in pursuing a career in advice, showing that there is a very strong appetite among Generation Z to meet the focus among advice firms to recruit more younger people.
However, the availability of training is crucial to helping people into the industry – more than a quarter of all adults surveyed (27%) and 22% of 18 – 24-year olds said that becoming an adviser is dependent on whether training support was available.
Our Director of Learning and Acquisition, Claire Limon, said: "With the demand for advisers increasing, it is reassuring that more and more people are considering the move and that its attractiveness as a career has only grown."
“However, our research found training support is vital. At Openwork we are focused on the importance of providing on the job training and continuous professional development.
“We continue to invest heavily in our Academy, which has enrolled more than 400 candidates since launching in October 2014, seeking to attract a diverse talent pool of all ages and backgrounds, particularly women - the average age of candidates currently participating within our Academy is 34 and 38% are female”.
“In 2019 we were delighted to appoint a further 114 candidates into advice roles, providing our clients with more access to the guidance and direction they require. As their journey progresses, our candidates continue to develop the key skills, knowledge and appropriate behaviours to become the advisers of the future and to deliver excellent client service and financial advice”