Advisory firms that show a commitment to training new blood will stand to benefit over the long term, Tony Harris, founder of Contractor Financials, has said.
Mr Harris, who set up the Surrey-based firm in 2002 to offer specialist financial advice to freelance workers and contractors, said that hiring graduates and training them up through the ranks had brought a “degree of energy to the firm” that other IFAs firms may lack.
He said: “There is a danger that advisers think that business will somehow always come in. But we are masters of our own destiny, so we have always invested heavily in our people, taking people on in an administrative or graduate role and bringing them up through the ranks.
“This way we ensure many years of loyalty, a strong culture and the longevity of the business.”
His comments were matched by those of Anthony Hoskisson, managing director of Lancashire-based Questa Chartered. He said the firm was currently looking for a graduate trainee and a paraplanner.
He said: “I believe we should look to train up our own people, especially considering succession planning. We have one or two advisers retiring over the next few years, so we can teach graduate trainees on the job as we get them qualified and chartered, ready to take on the mantle from those who retire.”
Mr Hoskisson said it was more important for him to “find the right person” and match a job to them, rather than to simply fill a role or to buy up other advisory firms.
He added: “There is enough talent in the marketplace to grow organically, and of course, by training new blood you can also help to establish the culture of your firm.”
