IFA 

One in five advisers to exit industry in next five years

Mr Richards added: "Personally, I feel very optimistic about the future of the profession based on the progress made over past years and the increasing recognition of the value and role professional advice plays in society –  especially at a time of turbulence and uncertainty facing the public.

"Indeed, demand for professional finance advice is evident with many members reporting strong revenue growth in 2018."

Mr Richards said he is seeing new advisers join the sector, with the growth in paraplanning proving instrumental to the increase in capacity.

He added: "But of course we can't be complacent about the future, and have been working on initiatives to attract and train the next generation of financial planners."

rachel.addison@ft.com

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