10th August 2022
People – Finding and Keeping them
According to data from Meeting of Minds the biggest challenge that keeps Advisers up at night is ‘people – finding and keeping them’
Data suggests that 1 in 5 Advisers are set to exit the industry in the next 5 years.
This leaves a huge advice gap, so being able to find, and then retain Financial Advisers for your business will be critical.
So how can you maximise your success of doing this?
- Good leadership and mentoring – show appreciation, celebrate big AND small wins.
- Incentives – not just a good bonus scheme, but additional holiday days, team days, volunteer days. Speak to your team, and ask what is important to them.
- Technology support – having good technology systems in place is a crucial part of the advisory business today, especially in a growing digital world. Fidelity Investments found that tech-savvy Advisers tended to have higher levels of AUM, higher AUM per client and were more highly compensated than less tech-savvy Advisers.
It’s often the little things that keeps your team happy. Good communication and the added extras go a long way.
Hiring Financial Adviser talent in this market where the demand exceeds supply is tough. It’s in a businesses every worth to invest in retaining their top talent.
View all the latest job opportunities from Paul Harper Search here.
You need to be logged in to comment on this article