Nearly 40% of Britons are looking at a career in financial advice
Almost two fifths (38%) of British workers are interested in a career that enables them to give people advice on their investments and finances, according to new research by St. James’s Place Academy.
Among the 2000 people surveyed, around half (49%) of millennials aged 18-34 years old, expressed an interest in a career in financial advice, said the training and development arm of the FTSE 100 financial services company.
Meanwhile, interest among men (44%) was noticeably higher than for women (32%) despite an even split of sexes in the sample size.
Of those considering becoming a financial adviser, around one-fifth of respondents said they think they would be ideal for the role as they are good with numbers, with the same amount adding they are good at problem-solving.
20% said they could ‘see the bigger picture’, while a further 19% believed that being a good communicator would be their best asset for a career in financial advice.
Regionally, over half of Londoners (51%) are attracted to the idea of a career in financial advice and wealth management, while only 29% of Scots would say the same.
Nearly two-thirds (58%) of employees working in the property sector expressed their interest in a career in financial advice, while only 26% in the public sector showed interest.
Surprisingly, 70% of higher earners, those currently earning more than £80,000 (€94,198, $99,792) would like a role in financial advice, compared to 34% of those earning less than £20,000.
Nearly a quarter (23%) of British workers currently use a financial adviser, rising to 30% of those aged 18-34 and a third (35%) of those who live in London.
When it comes to perceptions of what might be the biggest deterrents from moving into a role in financial advice, nearly a quarter (24%) said it was because they felt that they didn’t have the right skills and experience.