The financial advice industry has been facing warnings about a potential advice gap for the past few years as there are concerns not enough people are entering the industry.

Apprenticeship programmes are encouraging a new generation of financial advisers of all ages, as the industry tries to appeal to graduates, more women and people who are retraining.

The pension freedoms also mean people will be seeking financial advice later in life and for longer, so there is a need for the industry to ensure advisers are receiving ongoing training - this will also help with retention.

Tackling recruitment and retention issues should also help solve the problem of succession planning, which many adviser firms, large or small, face at some stage.

This guide explains how the financial advice sector can benefit from the apprenticeships on offer and how they can maintain a level of professionalism through continuous training and development.

It will also consider the mandatory gender pay gap reporting, what this requires and the implications for larger adviser firms.

Finally, the guide will look at how firms should prepare succession routes - what this entails and the main challenges to overcome.

Contributors to this guide include: Marie Calvin, national academy manager at 1825; Darren Smith, head of the Financial Adviser School and Richard Freeman, chief distribution officer at Old Mutual Wealth; Catrina Smith, partner in the employment team at Norton Rose Fulbright; Cath McVey, HR director at Ascot Lloyd; Danny Cox, head of communications at Hargreaves Lansdown; Fiona Treadwell, talent and development business partner at Mattioli Woods; Paul McGrath, partner at McDermott, Will & Emery; Scott Gallacher, chartered financial planner at Rowley Turton; Schroders; Investec Wealth & Investment; Nucleus.