8 out of 10 advice professionals would recommend financial planning as a career, reveals Dynamic Planner

by | Nov 29, 2021

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Ben Goss, CEO at Dynamic Planner said: “The advice industry has always been characterised by two main attributes – resilience and adaptability.  These characteristics have recently been tested like never before, and we wanted to understand the challenges advisers are currently facing and the level of confidence in their plans for the years ahead.

“What we found is that advisers are facing into the future with confidence, with the majority happy enough to recommend it as a career choice. Many, particularly younger advice professionals, are confident that client numbers will increase in the years ahead, with the tailwind of the pandemic continuing to drive consumers towards financial advice. Of course events of the past 18 months have accelerated the use of technology to enable remote delivery of advice, and most advice firms expect to continue with some form of hybrid working.

“When it comes to sustainability the signs are clear from our report that advisers – and the clients they serve – expect sustainability to be at the heart of their investment decisions. It is an obvious opportunity for advice firms, and the wider financial services industry, to really seize in the years ahead.

 

“However, significant challenges remain. Time spent on regulation and back-office activities has increased in recent years, often to the detriment of time spent with clients. Reducing the time and cost to serve clients, whilst maintaining high levels of engagement and demonstrating value, is a big issue for advice firms of all sizes. Technology is undoubtedly the key to unlocking this potential, with the majority of advisers saying it is improving their ability to serve clients.”

Dynamic Planner’s Industry Spotlight Report: Growth, opportunity and sustainability – the financial advice market in 2021, has been published and is available here: https://www.dynamicplanner.com/growth-opportunity-and-sustainability-the-financial-advice-market-in-2021/

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