59% of adults would consider financial advice career, survey finds

The number of people considering a career in financial advice is surging in response to growing demand for support, new research from Openwork has revealed.

The financial advice network commissioned a nationwide study amongst 1,010 adults to find that 59% suggested they would consider a career as a financial adviser – reflecting an increase on the 45% who indicated an interest when Openwork last researched the subject in March 2019.

The survey also showed that 54% of women revealed they would consider a career as a financial adviser, although careers in advice remained more popular among men, with 65% looking at become advisers.

Openwork director of learning and acquisition, Claire Limon, commented: “With the demand for advisers increasing, it is reassuring that more and more people are considering the move and that its attractiveness as a career has only grown.

“However, our research found training support is vital. At Openwork, we are focused on the importance of providing on the job training and continuous professional development.”

The advice network’s research also found that 66% of those aged between 18 and 24 years old would be interested in pursuing a career in advice, although the availability of training was revealed to be crucial in helping people into the industry.

More than a quarter of all surveyed adults, and 22% of those in the age bracket between 18 and 24 had indicated that becoming an adviser was dependent on whether training support was available.

Limon added: “We continue to invest heavily in our Academy, which has enrolled more than 400 candidates since launching in October 2014, seeking to attract a diverse talent pool of all ages and backgrounds, particularly women – the average age of candidates currently participating within our Academy is 34, and 38% are female.

“In 2019 we were delighted to appoint a further 114 candidates into advice roles, providing our clients with more access to the guidance and direction they require. As their journey progresses, our candidates continue to develop the key skills, knowledge and appropriate behaviours to become the advisers of the future.”

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