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
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?
Amid the current financial adviser shortage, advice firm Link Wealth is looking to expand its financial literacy program for high school students across the country.
TAL Risk Academy has updated its range of ethics courses to help financial advisers meet their CPD requirements following adviser feedback, including interpreting FSCP determinations.
