Educated planners sought after for remediation work

education/financial-planners/

5 July 2017
| By Malavika |
image
image
expand image

Financial planners with a degree and/or Certified Financial Planner (CFP) qualifications are in high demand to work on financial planning remediation projects, indicating organisations were continuing to raise education standards for their candidates, according to Hays.

The recruitment firm’s July to September 2017 quarterly report said this had led to a shortage of qualified candidates, with temporary and contract staff especially in high demand in this area.

Within wealth management, more jobseekers were therefore drawn to remediation projects due to the appeal of the daily rates that were on offer.

Technically strong paraplanners and advisers were also in ongoing demand, and they have been able to obtain large daily rates, which has also added to the shortage of wealth management professionals outside this space.

In terms of salary growth, paraplanners saw the greatest increases, especially in NSW and Victoria, due to severe candidate shortages.

Wealth management saw a few trends, with hotspots of demand in financial planning including the need for financial advisers in scaled advice. There was a demand for these candidates to provide scaled financial advice on single topics such as investment and superannuation.

Western Australia was candidate rich in the banking and financial services markets, although there were more permanent roles available. Wealth management was the exception, with suitable skills in short supply.

Meanwhile, banks were also focusing on their onboarding and training programs to boost retention and provide a positive experience.

Most employers in the major banks, financial planning, investment analytics, and fund management firms were continuing to prioritise gender diversity, which featured high on their agenda.

Business development managers (BDMs) with strong networks were in high demand in the burgeoning fintech industry, with demand expected to continue to rise.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

4 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

6 months 2 weeks ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

1 week 4 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 days 15 hours ago

ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam. ...

4 days 18 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3