FSP reporting influx of young advisers

Despite some groups in the industry scaling back the number of younger financial planners on their books, national dealer group Financial Services Partners (FSP) is reporting the opposite.

FSP has seen a rise in young financial advisers within its dealer group over recent months, with around 10 newer entrants to the industry joining the group in various locations.

“There has been an influx of 25, 26, 27-year-old advisers,” FSP sales and development manager for Victoria and Tasmania Allan Crane said.

Crane said while the advisers predominately fit a standard financial planning profile, they were also operating in the risk arena and were “proving to be very successful”.

Which goes against the trend of those in risk insurance being more mature aged, Crane said.

The group is ‘cross-pollinating’ their younger advisers with those who have established careers in an effort to fast track their development.

Crane said advisers were quickly working up to more senior advisory and practice management roles.

He said 10 years ago he would never have thought that practices “would be seriously looking at 25 year olds to take senior roles”.

Young planners were keen to adopt a high quality advice model and embrace technology and marketing and also keen to drive the business in line with their own vision for the industry, Crane said.