Changing perceptions will help bring in new blood

Recruitment

Without an injection of younger recruits the industry will become so top heavy it is likely to topple over. This means a greater effort is needed to improve the adviser's image

Every industry needs a regular injection of new blood to keep it vital and vigorous, and this is certainly the case with financial services. But the average age of advisers is steadily creeping up. There are plenty of people in their 30s, 40s and 50s but there is a distinct shortage of recruits, and especially of graduates. The implications of this could not be more serious. If advisers who retire or move on to other roles are not replaced, the quantity of advice available to the public will reduce. And if high-calibre individuals are not entering the industry in any number, the overall q...