'8 things young advisers need to know about getting ahead'

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'8 things young advisers need to know about getting ahead'
(Emily Ranquist/Pexels)

Recently I came across a shocking statistic that there are more financial advisers over 70 than there are under 30.

Now there is nothing wrong with an adviser over 70, but as a profession we need to do more about that statistic, which was quoted in the Dimensional 2020 Global Advisor Study.

We can’t expect to change the way we do things without welcoming fresh perspectives into the mix and helping them get started. 

Once they’ve started, the financial planning profession can be a really privileged career. But it’s important younger, aspiring financial planners know what it takes to get ahead.

Here are eight things every aspiring adviser should know before starting a career in advice: 

Professional exams

Passing the necessary exams is the foundation to getting ahead.

These act as confirmation that you’ve completed the necessary study and dedicated enough time to a level of competency recognised in the profession.

But while exams are important, they do not teach you how to apply what you’ve learned to the real people we serve and therefore going beyond in your personal study is so important.  


Arguably the most important skill for getting ahead, continuing education is essential for financial planners.

One of the best pieces of advice I received early in my career was ‘the key to being successful in this profession, is to be in this profession’.

Attending seminars, courses and reading books can help you stay up to date on the latest trends, regulations and develop new skills to stay ahead of the competition. 

Utilise mentors

Finding a mentor who is experienced in the financial planning profession can be a great way to learn the ropes and get ahead.

A mentor can provide valuable advice and guidance on how to succeed in the profession in practical terms, they can challenge the way you think and help you dive deeper into the intricacies of what we do to help clients.

Find the right firm

Finding a firm that matches your own values and aspirations is essential for success.

Make sure to research the firm thoroughly and ask questions to ensure it is the right fit for you. Finding a firm that is open to developing and nurturing new talent, providing you with opportunities to grow and establish yourselves, is key. 

Develop a strong network

Networking is important for financial planners.

Developing a strong network of contacts can help you find new clients to grow your base but also develop greater relationships with your existing clients.

Having a strong ‘money team’ will ensure everyone within your clients’ circle of competence is pushing for the right outcome for your clients. 

Embrace technology

Technology can be a great asset for financial planners, especially as the demographic of clients is changing.

Younger clients want to be spoken to and met where they are – social media, through apps and utilising this technology can take your customer experience to the next level while raising the level of your systems. 

Develop a niche