The cost of transition

Making up the adviser shortfall is going to be a challenge, with the big professional services firms just as desperate for top-level talent as advice groups. To get young people interested, Striver founder Alisdair Barr says, we need to make the industry interesting.

It’s not a corner office or a fatter pay packet at the top of paraplanners’ collective wish list, but something that is much more beneficial to financial advice practices and the clients they serve.

Even though there are thousands more HNW investors in the country this year, they are a lot less willing to pay the going rate for financial advice according to Praemium and Investment Trends.