More staff required: Planners
For close to one in four planners having additional staff would be one of the key things their employer could do to retain their services, the Money Management Salary Survey reveals.
The prospect of more staff was second only to a salary increase (43 per cent) in terms of inducements employers could offer to secure their planners' loyalty, with those working for aligned groups more likely to say it was an issue (25 per cent) than their non-aligned peers (19 per cent).
For planners earning in excess of $220,000, securing extra staff was just as important as a pay increase for employers looking to hold onto their services (45 per cent).
When it came to securing a salary increase non-aligned planners were more likely to be hooked by the lure of more cash (47 per cent) compared to 39 per cent of aligned planners.
The survey found that providing more training opportunities was the third best thing employers could do to retain them (16 per cent), while an employee share scheme was the next most popular option for holding onto planners.
Recommended for you
A Supreme Court of Western Australia jury has issued its verdict regarding unregistered MIS operator Chris Marco, who was on trial for 43 fraud charges, with ASIC stating the verdict ends a “sorry chapter”.
ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago.
Financial advice practices may be hiring younger or professional year advisers as a succession option, but they may find they are unable to put up the capital if the adviser looks to retire.
Any changes to product labelling for sustainable funds must be applied consistently across investor channels, including those used by financial advisers, according to RIAA.
