Financial planners defy odds in job market
The financial planning industry will once again buck the trend of the wider market and experience strong levels of hiring, largely due to attrition and experienced planners exiting the sector, according to a report published by Robert Walters.
Hiring activity will remain flat across the financial services industry in quarter four, mostly due to economic uncertainties and recruitment freezes in place across the sector.
However, some areas including financial planning are expected to blossom as the new financial year for major banks brings new headcount approval.
Robert Walters' director of financial services recruitment, Andrew Hanson, said the Melbourne, Perth and Brisbane markets will face acute shortages in financial planning, superannuation and insurance sectors, adding the trend would drive up salaries for professionals working in these industries.
"We're also expecting some markets to face shortages of quality business development managers and banking relationship managers," Hanson said.
The forecast came after the September quarter saw relatively flat or decreased hiring, with Melbourne and Perth being hit the hardest, the report found.
Recommended for you
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
As advisers risk losing two-thirds of FUA during the $3.5 trillion wealth transfer, two co-founders underscore why fostering trust with the next generation is vital to retaining intergenerational wealth.
As advisers seek greater insights into FSCP determinations, what are the various options considered by the panel and can a decision be appealed?
