Originally published: WealthBriefing Asia, 04 March 2024
The advisory and wealth industries, under pressure from tech – which encourages more managers to retire – and a struggle to attract younger people into the sector has created a talent squeeze, a survey finds. Separately, industry group PIMFA said it accepted that the UK industry faces a problem.
Almost half of financial advisors and planners believe that the current shortage of IFAs and wealth managers will increase or stay the same over the next five years, according to a new study commissioned by Investec Wealth & Investment.
The study was carried out by independent research agency Pureprofile, covering 100 IFAs and financial planners across the UK this January as well as Viewsbank, covering 535 UK consumers with stock market related investments.
