WEALTH MANAGEMENT MARKETPLACE - RECRUITMENT THEMES AS WE APPROACH THE END OF THE 23/24 TAX YEAR ?

WEALTH MANAGEMENT MARKETPLACE - RECRUITMENT THEMES AS WE APPROACH THE END OF THE 23/24 TAX YEAR ?

Having had meetings with a number hiring managers and Financial Advisers in the past month, I have gauged a few key themes/challenges across the board which the wealth management recruitment market is facing.

Advisers
- Many advice firms have aging Advisers (retirement in the next 3 - 4 years)
- Several Advisers are having to plan their retirements further in advance
- There has been a major reduction in self employed Adviser positions
- Advisers have to recruit years in advance and train up those who will fill their boots when they retire

Paraplanners
- The biggest skills shortage is with Paraplanners (both junior and senior)
- c.90% of Paraplanners want to be Advisers but haven't had the training
- Supply is not meeting demand so salaries are rising exponentially
- Career Paraplanners are highly sought after in the marketplace

Administrators
- Not enough graduates are being attracted to take on administrative roles
- Many Administrators are very progressive and want to be Paraplanners
- Adequate training/study support is key for Administrative staff retention
- Career Administrators are rare and can command competitive packages

- Are you a hiring manager and need some recruitment support?
- Are you enjoying your current role?
- Do you have the flexibility you need to deliver the best outcomes?
- Are you getting the training and support you need?
- Have you had a pay rise in the last 12 months?
- Have promises been made to you and not delivered?
- Are you passing your level 4 exams and not getting the recognition?

If you are thinking about a new role OR have any recruitment needs for your team after the end of the tax year then please get in touch for a confidential chat.