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Why more young advisers are needed to replace those retiring

Capacity Crunch
Why more young advisers are needed to replace those retiring from the profession
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Is the advice profession heading towards a capacity crunch?

If things continue how they are now, it is likely there will be many more advisers retiring in the years to come than there will be younger advisers to replace them.

Currently three quarters of advisers are aged 40 years+, and there are real concerns that not enough young talent is being recruited.

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While accredited bodies such as the CII and CISI are seeing many advisers qualify each year, it has been argued they are not doing enough to promote the benefits of a career in advice.

The profession has also seen the rise of academies in recent years, each of them training around a hundred young advisers each year, but still this is not enough to fill the gap of the many more that will be retiring in the years to come.

So what can be done about this?

This investigation sets out the challenges faced by the profession, how academies are trying to help, what the recruitment market is seeing and what are the possible solutions.

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Investigation by Amy Austin, news editor of FTAdviser.