5. Greater diversity
The number of female advisers is growing, but there’s still a long way to go. Moreover, the number of people with disabilities or from non-white ethnic backgrounds within the industry remains low.
This needs to change, particularly at a time when the need to identify customer vulnerabilities is such an important topic.
Striving to recruit a diverse workforce with a mix of backgrounds and skills increases a firm’s ability to truly support the needs of the communities they serve.
6. Mentoring
Most advisers who sell their business and retire leave on good terms, but it’s sad to see this wealth of experience disappear from our industry.
A transitional pathway – through a properly structured mentoring programme – could be invaluable for the next generation of business owners and advisers.
Retaining this knowledge and experience for longer would be a sensible way forward.
Given their passion and commitment to the advice profession, I believe there are many people in our industry who would be only too willing to do this.
There is so much opportunity in this market, whether it's looking after families or facilitating the transfer of wealth through the generations. With the right talent to meet people’s wide-ranging needs, everyone wins.
Richard Howells is chief operating officer at Sesame Bankhall Group
