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Financial Services

With experience across more than twelve financial service sectors and an established network of over 70,000 professionals we can connect specialist talent to the right business. Looking for a new financial services job or for exceptional talent? Take a look at our offering below.

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    OUR FINANCIAL SERVICES EXPERTISE

    Financial Services is core to our consultancy. With 238 combined years of market experience, our consultants are experts in their field, many having worked in the sectors they recruit for. We cover more than 12 specialist areas including; Financial Planning, Wealth Management, Commercial Banking, and Pensions & Actuarial, helping UK and international businesses secure skilled professionals. 97% of our Financial Services placements are still in place after five years.

    ​​​​​See latest jobs

  • ​“Rehana was both friendly and professional the whole way through the process. She put me at ease and ensured I was well prepared for the interview. Rehana took into consideration all my requirements and matched me to a role that was exactly right for me and my circumstances. I would definitely recommend her to others.”

    Rehana Sadiq, Senior Consulting, Financial Services
    Rehana Sadiq, Senior Consulting, Financial Services

  • ​“Rehana was one of 5 recruiters to try and offer me a job, but was the only one to actually ask me about where I’d like to work and genuinely listened. She used her contacts and experience within the industry to land me the exact job I wanted, with the company I’ve wanted to work for, for a long time - so her results speak for themself. Rehana was a dream to work with from start to finish and if I ever decide to move jobs in the future I will look no further than her.”

    Rehana Sadiq, Senior Consultant Financial Services
    Rehana Sadiq, Senior Consultant Financial Services

  • ​“Thank you for all your help, Louise! Must say I’m very impressed with you and the way you have been so on the ball and efficient. I have registered with a few recruitment services and not one of them got back to me after my initial contact, but you have been amazing!”

    Louise Bibb, Regional Manager Financial Services
    Louise Bibb, Regional Manager Financial Services

  • ​“Lynn was amazing and had me set up with interviews within a day or two. I wouldn’t have managed this myself and I am so very grateful for all of her help and support during this process.”

    Lynn Wilson, Senior Consultant Financial Services
    Lynn Wilson, Senior Consultant Financial Services

  • "​Ashlea spent three years trying to contact me - that is tenacity!! It paid off because when I was ready to leave my job her name was very familiar to me, so I was happy to have a chat. She does her homework and does not try to fit a round circle into a square hole. She actually takes time and care in selecting the right candidates for the roles she has and therefore both parties are happy with the outcome. She was incredibly professional and responsive making sure that the interview and enrolment process was moving forwards quickly. She builds rapport easily and consequently, I find her very easy to talk to. Would highly recommend. Thank you Ashlea - I am happy to be working again!"

    Ashlea Walton, Client Director Financial Services
    Ashlea Walton, Client Director Financial Services

  • ​"I can't thank Alison MacMillan enough for her dedication and professionalism in helping me to secure a fantastic new role with one of the top companies in the UK. Friendly and approachable, she has been extremely supportive throughout the whole journey.She is extremely proactive, knowledgeable, polite, and supportive. She has a genuinely positive, can-do attitude and worked with me to better understand the roles that I was genuinely interested in - rather than blindly sending lists of unsuitable vacancies. Highly recommend."

    Alison MacMillan, Executive Director Financial Services
    Alison MacMillan, Executive Director Financial Services
Risk & Compliance

Risk & Compliance

Our Risk & Compliance consultants know how difficult it is to attract highly skilled professionals who understand the complexities of the risk, compliance and regulatory market. They have ove...

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LATEST JOBS Financial Services
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PA

Edinburgh
£28000 - £30000 per annum

Idex Consulting have partnered with a boutique DFM business who are looking for an PA to join their team in Edinburgh. This is an excellent opportunity for a motivated individual with a keen interest in a support role within financial services. The primary focus of the role will be supporting two Partners and the Business Development Director in a wide range of administrative and organisational tasks to ensure the smooth running of the Edinburgh team and office. The ideal candidate will have at least three year's relevant work experience in a similar role, and has strong administrative skills, strong IT skills Responsibilities: Supporting the team in all administrative tasks, including managing incoming and outgoing correspondence, as well as creating, editing and formatting documents, reports and presentations Meetings & Diary management Organise and co-ordinate team events, get-togethers, and lunches, ensuring that catering and all other requirements are in place Travel arrangements Expenses The ideal candidate will have: Experience of working in a similar role within Financial Services or Wealth Management Excellent verbal communication skills Good written communication skills Strong MS Office IT Skills Organised with attention to detail Discretion and confidentiality In return you will receive a really competitive salary and join a well-run business with great job satisfaction. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Client Services Manager

Edinburgh
£28000 - £32000 per annum

Idex Consulting have partnered with a boutique DFM business who are looking for an Client Services Manager to join their team in Edinburgh. This is an excellent opportunity for a motivated individual with a keen interest in client service within financial services. The CSM will be responsible for assisting the portfolio management team, in various aspects of the client service, including client on-boarding, production of reports, meeting preparations and managing client data. The primary focus of the role will be supporting the portfolio management team, in various aspects of client on-boarding and client communications. You will also support portfolio management with diary management, client reporting and quarterly valuations, The ideal candidate will have: Experience of working in a similar role within Financial Services or Wealth Management Strong administrative skills and a keen interest in building and maintaining client relationships You will also have strong IT skills - Word, Excel and PowerPoint Excellent attention to detail and a methodical approach to problem solving In return you will receive a really competitive salary and join a well-run business with great job satisfaction. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Independent Financial Advisor

Liverpool
£55000 - £65000 per annum + Benefits + Car

IDEX Consulting are working with a national Financial Advisory firm who are seeking an Independent Financial Advisor to join their growing business. Due to continued acquisitions across 2024 and 2025, the business requires an IFA to inherit a book of clients from a retiring Advisor in the Preston area. Duties include: Reviewing and responding to Clients' changing needs and financial circumstances, keeping Introducers and Clients up to date with new financial products, or changes to legislation that may affect their Clients' pensions, savings, investments and financial plans Acquiring and developing new business from new/existing Clients and professional introducer Developing and maintaining good Client & introducer relationships through Client meetings, seminars and continuous feedback to the team Conducting in-depth reviews of Clients' financial circumstances, current provision and future aims and objectives whilst analysing information, conducting research and preparing financial planning reports best suited to the individual Clients' requirements covering all areas of advice The Diploma in Regulated Financial Planning is essential for the successful applicant. You will be empathetic in nature, whilst demonstrating a capability of building long-standing client relationships. In return you will benefit from full Paraplanning and admin support, along with a training and development program which ensures a smooth transition into the role, along with opportunities to grow further within the business. For more information please contact Graeme Hyland on 07896 933622 or email graeme.hyland@idexconsulting.com Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Head of Paraplanning

London
£75000 - £85000 per annum

An opportunity to head a Paraplanning team of a National Business due to continued growth and expansion. My client is a leading national advice and wealth management business delivering holistic and hybrid advice with market leading investment solutions. Ideally, you will be an experienced Paraplanning manager / lead who is seeking an opportunity to further progress your career. The role would oversee c.25 Paraplanners currently but this number is expected to grow to 40 by the end of the year. The role would report into the Operations Director with an opportunity to be involved in wider company projects as the business continues to evolve with technology at the forefront of this. A fabulous opportunity to lead by example and a career opportunity with further exciting growth plans in the pipeline. The role offers not just an exceptional salary but an excellent annual bonus and benefits including: 28 days holiday increasing to 30 Company matched Pension BUPA healthcare and so much more For more information please apply for the role. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Head of Paraplanning

London
£75000 - £85000 per annum

An opportunity to head a Paraplanning team of a National Business due to continued growth and expansion. My client is a leading national advice and wealth management business delivering holistic and hybrid advice with market leading investment solutions. Ideally, you will be an experienced Paraplanning manager / lead who is seeking an opportunity to further progress your career. The role would oversee c.25 Paraplanners currently but this number is expected to grow to 40 by the end of the year. The role would report into the Operations Director with an opportunity to be involved in wider company projects as the business continues to evolve with technology at the forefront of this. A fabulous opportunity to lead by example and a career opportunity with further exciting growth plans in the pipeline. The role offers not just an exceptional salary but an excellent annual bonus and benefits including: 28 days holiday increasing to 30 Company matched Pension BUPA healthcare and so much more For more information please apply for the role. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

IFA Administrator

Newton Mearns
£28000 - £36000 per annum + flexible working

Idex Consulting are working with an IFA Practice to recruit an IFA Administrator based in Newton Mearns. This is a brilliant opportunity for flexibility over hours and working from home. Role & Responsibilities: Supporting and assisting the financial adviser Responding and forwarding on queries sent Booking internal meetings and managing the central diary Processing new business applications, being proactive in the development of applications to ensure there are no delays, chasing various providers for regular updates on cases Letters of authority and gathering information Ensuring back-office system ) is always kept up to date Liaising with client GP's, ensuring the prompt completion of reports for protection cases. Preparing suitability letters Managing the firms platform assets: Checking for transfers in; claiming advice fees; Investing client monies. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Administrator/Trainee Paraplanner

Edinburgh
£25000 - £35000 per annum

A really exciting opportunity has arisen for a Trainee Paraplanner within this exciting large IFA business based in Edinburgh. You must have some experience in the IFA Industry and be working towards your diploma in financial services. The role will involve: Report writing for a variety of financial services products including ISA's and pensions Platform work including switches on Quilter/Transact/Parmenion Develop and maintain effective relationships with clients, colleagues and product providers. Point of contact for Advisers, Clients, Insurance Companies and third party providers. Receive incoming telephone calls, dealing or redirecting as appropriate so that calls are dealt with efficiently and by the correct person. Maintain client records on Intelligent Office (IO) to ensure they are up to date and accurate. Update client information on Intelligent Office and inform adviser accordingly. Ensure all client letters, company information and correspondence is uploaded to Intelligent Office, and named following the company procedure and allocated to the correct client Provide a valuation table and review pack to the adviser in a timely manner for a client ensuring the information is up to date and accurate. Ability to ask the correct questions in order to obtain full details & up to date information in respect of client plans. Working towards and getting support to become full Paraplanner. In return you will receive an excellent salary and bonus and an opportunity to join one of Scotland's fasted growing IFA businesses. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Financial Services Administrator

Edinburgh
£25000 - £30000 per annum

Idex Consulting are recruiting for an experienced Financial Services Administrator to join an IFA practice in Edinburgh. This is a fantastic opportunity for someone who has been working within a support role in an IFA. Your main responsibilities in this role will be: Client reviews Preparing valuations/illustrations Processing new business and renewals Assisting with research and report writing You must have experience as an IFA Administrator to be successful in your application. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

LATEST CONTENT

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Blog Thumbnails New Size (50) financial services
2025 Employee Benefits employment outlook

The employee benefits landscape will continue to undergo significant transformation in 2025, shaped by rising healthcare costs, evolving workforce demands, and changing regulations.As firms grapple with the lack of new talent entering the market, employers are competing to attract new talent and keep hold of existing employees. Talent gaps specifically at the mid to senior level exist, which has contributed to increased salaries and hiring costs. According to a report by the Recruitment Employment Confederation (REC) “two-thirds of large employers (67%) and more than half medium-sized employers reported shortages of candidates” (Personnel Today: Candidate shortage afflicts two-thirds of businesses).From our research 67% of employers across the employee benefits sector said their biggest challenge will be the shortage of suitable applicants, and 50% said they don’t think they have the talent needed to achieve business objectives. Additional insights from our 2025 Employee Benefits Salary Guide and Market Sentiment report include a range of interesting factors employers and professionals should pay attention to.46% of employees surveyed said they are dissatisfied with their job Reasons include; workload, lack of resources and support, and absence of training and development. Comments included; “There has been too much uncertainty and too many acquisitions”, “Volumes of work have increased without help, due to resource lost over the year”, “We have lost team members who haven’t been replaced. This has led to being overworked”, and “Not being given the time to learn and grow”.82% of employees aren’t on a long term incentive planWhen asked what employees felt were most important to them when looking for a new role, the majority said salary, followed by non-financial benefits and a good employer brand and reputation in the market. As employers continue to compete for skilled professionals, competitive compensation packages will be key. However, this will continue to be a challenge for the sector as business costs and pressures increase. A poll by the Chartered Institute of Professional Development (CIPD) found that “three quarters of respondents did not think they would meet employee pay expectations in 2024”, however “of employers who have had to raise wages in response to hard-to-fill vacancies fewer...are taking lower profits, absorbing costs or accepting higher overheads” (CIPD: Pay awards). Early pay predictions for next year show a “median pay award across all sectors [to] be 3.5 per cent” with awards “currently predicted to reduce by one per cent…compared to 2024” (Pay data: Pay trends and expectations – 2024 and 2025). 33% of employers aren’t sure if they use their employer value proposition to attract talent Having a compelling, ‘human centred’ employee value proposition will set employers apart from their competitors. Working with external consultancies to develop this will help you to define the ‘why’ and ‘so what’ for your current workforce and prospective employees. Companies with a strong EVP have decreased attrition and better hiring success. For guidance on developing an effective employer value proposition get in touch.For more insights on the wealth management employment market, plus accurate salary data and hiring predictions for the next year access our 2025 Employee Benefits Salary Guide and Market Sentiment report.
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Fs Nl Web Thumbnail Newsletter
Financial Services newsletter Friday 31st January 2025

​Financial Services NewsSchroders will adopt all four FCA Sustainability Disclosure Requirements (SDR) labels—'sustainability focus', 'sustainability impact', 'sustainability improvers', and 'sustainability mixed goals'—bringing its total to 16 across the group. This follows December's announcement of labels for 10 funds and the addition of three Cazenove Capital funds. (Financial Planning Today, 28/1/2025, 'Schroders to adopt all 4 SDR labels')St James’s Place reported record £190.2bn Funds Under Management in 2024, with £18.4bn in gross inflows (up 23%), though net inflows fell to £4.33bn from £5.12bn. (Financial Planning Today, 30/1/2025, 'St James's Place FUM soars £22bn to £190bn in 2024')In further news...St James’s Place has shifted a £5.2bn sustainable mandate from Impax to Schroders, adopting a blend of value and growth strategies. Schroders' funds have outperformed SJP’s, with three-year returns of 23% and 21.5% versus SJP’s 9.9%. (Charles Walmsley, 13/1/2025, Citywire Wealth Manager, 'SJP hands £5.2bn Impax mandate to Schroders')Quilter's platform saw a 91% year-on-year increase in gross inflows from IFAs in Q4 2024, reaching £1,255m. Overall, gross and net inflows across all channels rose by 22% and 32%, respectively, with total net inflows of £1,919m. The group reported record net inflows of £2bn for Q4, contributing to £5.2bn in core inflows for 2024. The affluent segment saw a 58% increase in gross inflows to £3,914m. (Financial Planning Today, 23/1/2025, 'Quilter sees 91% increase in IFA platform inflows')Brooks Macdonald has announced a £10m share buyback to enhance its share value ahead of moving to the main LSE. The buyback, managed by Single Capital Markets, will run until September 2025, with shares purchased in the open market and cancelled to reduce share capital. Shares have traded between £14-£17 recently, down from a £27 high in 2021. (Victoria Bell, 28/1/2025, Citywire Wealth Manager, 'Brooks Macdonald announces £10m share buyback')The Treasury plans to invite senior figures from advice firms and wealth managers to industry forums with Chancellor Rachel Reeves later this year to discuss financial services growth, alongside banking, insurance, and asset management leaders. (Julian Bovill, 27/1/2025, Citywire Wealth Manager, 'Treasury wants advisers and wealth managers at chancellor's forums')Leicester-based advice firm Handford, Aitkenhead & Walker has rebranded as Optimum Path Financial Planning following a management buyout by sole shareholder Alasdair Walker, aiming to blend tradition with innovation and reflect a forward-looking vision. (Victoria Bell, 24/1/2025, Citywire Wealth Manager, 'Handford Aitkenhead & Walker changes name to Optimum Path')From April, HMRC will update its systems to end the use of emergency tax codes on pension withdrawals, reducing the need for reclaiming overpaid tax—a process that has led to £1.4bn in refunds across 470,000 claims since 2015. (Julian Bovill, 22/1/2025, Citywire Wealth Manager, 'HMRC to fix £1.4bn pension tax overpayment issue in April')Abrdn pledged to improve platform service after advisers withdrew £3.9bn in 2024, nearly double 2023 outflows. Despite a strong trading update and 7% share rise, adviser platform outflows continued, with £900m exiting in Q4 alone. (Charles Walmsley, 21/1/2025, Citywire Wealth Manager, 'Abrdn to redouble platform efforts after advisers pull £4bn in 2024')Bath-based advice firm Fidelius is rebranding to better appeal to women and younger clients, with a new look and approach launching publicly on 14 February. While the name remains, the firm aims to simplify financial planning and make it more relatable. (Victoria Bell, 20/1/2025, Citywire Wealth Manager, 'Söderberg-backed Fidelius to rebrand in pitch to women and younger clients')LV= has launched a new platform service for advisers in partnership with Embark, offering access to 5,000 funds, model portfolios, and LV=’s insured fund options across various wrappers, including SIPPs and ISAs, designed to enhance retirement income advice. (Financial Planning Today, 29/1/2025, 'LV= launches new adviser platform service')North Derbyshire-based Belmayne has been awarded CISI Chartered Firm status, recognising its high level of professionalism in financial planning. The family-oriented firm, based in Dronfield, met rigorous criteria to achieve the accreditation. (Financial Planning Today, 28/1/2025, 'Belmayne achieves CISI Chartered Firm status')Rosemount Financial Solutions, a Basingstoke-based IFA network, reported 25% revenue growth and a £500m increase in AUM to £2.5bn. Over the past year, the network grew its team by 8 staff and 31 advisers, including 12 Financial Planners, with protection business rising by 33%. (Financial Planning Today, 27/1/2025, 'Rosemount Financial Solutions sees 25% growth in revenue')A Charles Stanley study reveals high net worth women are less engaged than men in discussions with financial advisers. While 80% of HNW men are actively involved, only 67% of HNW women engage similarly, and 19% of women do not have an adviser. (Financial Planning Today, 27/1/2025, 'HNW women less engaged with financial advisers')Financial experts have welcomed Chancellor Rachel Reeves' Davos comments suggesting a potential softening of her October Budget move to scrap non-dom status. With 10,800 millionaires leaving the UK in 2024, experts see her comments as a possible sign of a re-think, offering a longer transition or diluted ban. (Financial Planning Today, 24/1/2025, 'Experts welcome potential ‘softening’ of non-dom crackdown')The average household is £31,546 short of the pension savings needed for a moderate retirement, four times higher than five years ago. Only 36.4% of households are on track for a moderate retirement, with Wokingham's gap at £265 and Kingston upon Hull's at £54,641. Authorities around London have some of the largest gaps, exceeding £70,000. (Financial Planning Today, 20/1/2025, 'Pensions gap grows to more than £31,000')National IFA Continuum reported a 23% year-on-year increase in assets under influence, reaching £12.4bn at the end of 2024. This marks the 10th consecutive year of double-digit growth. New business income rose 16%, while recurring income grew by 27%. (Financial Planning Today, 20/1/2025, 'National IFA Continuum reports AUI up 23%')A survey from Opinium revealed that while 56% of independent financial advisers view AI as an opportunity, the majority (64%) have no plans to implement it in client services within the next year. Only 14% are already using AI, with 23% planning to adopt it. (Financial Planning Today, 14/1/2025, 'Few advisers planning to use AI')The Attivo Group, parent of Chartered Financial Planning firm Attivo, has launched a new investment firm in partnership with SEI. Led by CEO Stephen Harper and CIO Charlotte Watson, the firm will offer three model portfolio ranges focused on goal-based investing, with fees ranging from 25-64 bps. The firm aims to enhance the investment management landscape by aligning services with the Financial Planning journey. (Financial Planning Today, 9/1/2025, 'Chartered Planner owner launches investment firm')Dynamic Planner has launched Financial Personality Insights, a new feature designed to give advisers a deeper understanding of clients' behaviours and attitudes towards financial risk. Developed by Dr. Louis Williams, the feature enhances the platform's Attitude to Risk (ATR) questionnaire, building on its psychometric analysis to offer more personalised advice. (Tom Browne, 28/1/2025, Money Marketing, 'Dynamic Planner launches Financial Personality Insights to improve client understanding')2025 Financial Services talent trends - IDEX Consulting’s 2025 Financial Services talent trends highlight rising operating costs, a lack of new talent entering the industry, and the growing influence of AI and regulatory changes.Employers must focus on strong branding, competitive compensation, clear career paths, and technological adoption. In-demand roles include financial advisers, paraplanners, and compliance experts. Employees are advised to be proactive in career development, upskill in AI and technology, and stay current with industry changes. (IDEX Consulting news, '2025 Financial Services talent trends')M&A buy and sell strategies: predictions and expert advice - M&A activity remains strong despite tax changes, with an emphasis on completing deals before the end of the 24/25 tax year. Sellers are urged to prepare early, focusing on structuring deals, due diligence, and regulatory compliance. Tax strategies, along with managing risks like cybersecurity and ESG concerns, are essential to maximizing business value during the sale process. (IDEX Consulting news, 'M&A buy and sell strategies: predictions and expert advice')Sustainability: how to win clients, customers and talent - Sustainability is becoming crucial for attracting clients, talent, and customers. Businesses are facing increasing demands for responsible practices from employees, customers, and investors, driven by factors like climate change and human rights. The commercial benefits of sustainability include enhanced reputation and cost efficiencies. IDEX Consulting’s study reveals that 89% of employers believe sustainability helps attract talent, and 78% of customers care about it. Companies should focus on developing a strong sustainability strategy to meet market demands. (IDEX Consulting news, 'Sustainability: how to win clients, customers and talent')How to create an inclusive hybrid and remote culture - Inclusive hybrid cultures require more than just engagement strategic; businesses must actively embed inclusive practices. Hybrid work presents challenges, particularly for marginalized groups, due to biases in virtual settings and accessibility issues. Key strategies include understanding diverse employee experiences, fostering open feedback, and providing tailored training for virtual inclusion. Proactive measures will ensure a more equitable and connected workforce.(IDEX Consulting news, 'How to create an inclusive hybrid and remote culture')Mergers and AcquisitionsEvelyn Partners has sold its Authorised Corporate Director (ACD) arm, Evelyn Partners Fund Solutions (EPFS), to Thesis Holdings for an undisclosed sum. The division, with £10.6bn in assets under governance, was sold as part of Evelyn's strategic review to refocus on wealth management, following the sale of its accountancy arm last November. (Natalia Vasnier, 27/1/2025, Citywire Wealth Manager, 'Evelyn Partners sells £10.6bn ACD to Thesis')Titan Wealth has acquired Jersey-based financial advice firm Advisa Wealth, which manages £525m in assets for 1,800 clients. The firm's management team and 10 advisers will join Titan Wealth, further strengthening its presence in the Channel Islands. This acquisition is part of Titan's ongoing expansion strategy, supported by private equity funding. (Sophie Downes, 24/1/2025, Citywire Wealth Manager, 'PE-backed Titan Wealth buys 30-year-old Jersey firm')Isle of Man-based Manx Financial Group has acquired CAM Wealth Management for £210,000. CAM was formed in April 2023 by Derek Gawne and Lizz Ewart after they acquired and rebranded Charteris Asset Management. The firm is headquartered in Liverpool. (Dylan Lobo, 23/1/2025, Citywire Wealth Manager, 'Boutique formed by wealth veterans sold for £210k')Generali, the Italian insurance giant, has entered a joint venture with French investment manager Natixis, combining their asset management businesses. The deal highlights the ongoing asset accumulation wars in Europe. While only a portion of the firms' assets are visible, the merger presents potential synergies, with €164bn in assets from Natixis and €40bn from Generali seen by Morningstar. (Frank Talbot, 21/1/2025, Citywire Wealth Manager, 'Natixis-Generali: Will the latest European mega-merger work?')Aberforth Partners has acquired a 5.44% stake in Brooks Macdonald, valued at nearly £14m, following the wealth firm's announcement to leave the AIM market. This acquisition adds to Aberforth's existing 2.3% stake in rival Quilter. The stake was purchased on the same day Brooks revealed plans to transfer its listing to the main market to enhance its corporate profile, with the move expected to complete between 4 and 31 March 2025, pending regulatory approval. (Dylan Lobo, 20/1/2025, Citywire Wealth Manager, 'Aberforth unveils £14m Brooks stake ahead of AIM exit')Söderberg & Partners has acquired stakes in Radcliffe & Co, Francis Clark Financial Planning, and Qi Financial Solutions. Radcliffe & Co manages £1.5bn in assets, serving 3,500 personal clients and 150 corporate schemes. FCFP, with nine offices, manages £900m in assets, employing 65 chartered financial planners. Qi Financial Solutions, based in Croydon, advises on £165m in assets with seven staff, including three chartered financial planners. (Sophie Downes, 16/1/2025, Citywire Wealth Manager, 'Exclusive: Soderberg takes stakes in three more advice firms')Perspective Financial Group made five acquisitions in December, adding £375m in assets, 1,100 clients, and new offices in Derbyshire, Lincolnshire, and Cheshire. These deals bring the firm’s 2024 total to 29 acquisitions, increasing its overall total to 107 since 2008. The acquired firms include Hallidays Wealth Management, Foinaven Asset Management, Tony Fenton & Sons, PW Financial Management,and a client book from Perspective (Home Counties) Ltd. (Financial Planning Today, 21/1/2025, 'Perspective adds £375m AUA with 5 acquisitions')Hoxton Wealth has acquired Darlington-based Family First Financial Services, its fifth UK acquisition in 12 months, adding £85m AUM. Established in 2003, Family First offers comprehensive Financial Planning services, including wills, inheritance tax advice, and trust fund benefits. (Financial Planning Today, 20/1/2025, 'Hoxton Wealth adds Darlington firm')​MoversEvelyn Partners has appointed Bahador (Bids) Mahvelati as Chief Operations Officer, starting in March. He will also be part of the executive committee as the firm focuses solely on wealth management. Mahvelati joins from PwC UK, where he led the financial services value creation practice. His prior experience includes operational roles at UBS Investment Bank and Natwest Group, as well as strategic consultancy work. (Dan Cooper, 28/1/2025, Money Marketing, 'Evelyn Partners names Bids Mahvelati as new chief operations officer')​Schroders will cut 200 jobs, 3% of its workforce, as part of a restructuring under new CEO Richard Oldfield. The move aims to reposition the firm for growth and meet 2025 objectives. Most affected roles will be in technology, and the executive committee has been reduced from 22 to 9 members. (John Schaffer, 17/1/2025, Citywire Wealth Manager, 'Schroders to cut 3% of staff in new CEO’s growth bid')Caroline Abbondanza, former COO at Brooks Macdonald, has joined SS&C as a Senior Director. She left Brooks in September after serving as COO and CTO. Previously, she was group CIO at FNZ. (Victoria Bell, 29/1/2025, Citywire Wealth Manager, 'Brooks Macdonald former operations chief winds up at SS&C')Andy Curran will retire as CEO of Standard Life this summer after 35 years in the industry, five of which were spent at Standard Life. The firm, a subsidiary of Phoenix Group, will adopt a flatter structure, merging its retirement solutions and asset management divisions under Mike Eakin. Colin Williams, Tom Ground, and Nigel Dunne will continue in their current leadership roles. (Julian Bovill, 28/1/2025, Citywire Wealth Manager, 'Standard Life CEO Andy Curran to retire')Progeny Founder Neil Moles is stepping down as CEO, with CFO Tom Wood set to take over. Moles will remain involved as a Non-Executive Director and President. Bobby Ndawula, formerly with Skipton Building Society, will join as the new CFO. Moles, a significant shareholder in Progeny, expressed his delight at having Tom Wood succeed him as CEO. (Victoria Bell, 28/1/2025, Citywire Wealth Manager, 'Exclusive: Progeny CEO Moles steps down')Martin Gilbert stepped down from the board of Saranac Partners on 17 December. Gilbert, who helped establish the wealth firm in 2016 alongside ex-Barclays Wealth Chief Tom Kalaris, had been a Non-Executive Director since 2020. Tom Kalaris, who remains a significant stakeholder in the firm, continues to play a role in its direction. Since leaving Standard Life Aberdeen, Gilbert has focused on launching his new venture, AssetCo, where he has been heavily involved in its development and various non-executive roles. (Dylan Lobo, 27/1/2025, Citywire Wealth Manager, 'Martin Gilbert steps back from DFM he helped launch')Stewart Cape, who was appointed as Progeny's Head of M&A in September 2022, has left the private equity-backed consolidator at the end of 2024. Cape was brought in to lead Progeny's acquisition strategy. Prior to this role, he spent 12 years at KPMG overseeing its mergers and acquisitions practice. Progeny declined to comment further on his departure. (Victoria Bell, 22/1/2025, Citywire Wealth Manager, 'Exclusive: Progeny's M&A boss leaves after two years')Transact CEO Jonathan Gunby will retire in March 2025, with Tom Dunbar, currently Chief Development Officer, set to succeed him as part of a planned succession. Gunby, who has been with Transact since 2011, helped grow assets under management from £10bn to £62bn and played a key role in the company's 2018 IPO. Dunbar, who joined Transact in 2017, previously worked at Royal London and NMG Consulting, and was promoted to the board in 2024. Andrew Cullen-Jones, former Head of Advice Policy at St James’s Place, will take over Dunbar's role as Chief Development Officer. (Victoria Bell, 22/1/2025, Citywire Wealth Manager, 'Jonathan Gunby to retire as Transact CEO')Openwork has appointed David Thomas as Digital Product Director and Anna Bartholomew as Head of Partnership Services, following its investment from Bain Capital in 2024. Thomas, previously Head of Product at Schroders Personal Wealth, will develop technology for Openwork's 600 appointed representative firms. Bartholomew will focus on building business relationships. (Charles Walmsley, 20/1/2025, Citywire Wealth Manager, 'Openwork makes double hire with eye on tech')Tatton Investment Management has hired Olivia Geldenhuys from Schroders as Head of its specialist team, replacing Chris Robinson who left the business in August to launch an MPS service for Premier Miton. Geldenhuys, who joins from Schroders' £6.3bn solutions team, will lead technical support for the firm's partner firms. Prior to Schroders, she spent nine years at PortfolioMetrix in client service, business development, and distribution planning. She will be based at Tatton's London office. (Sophie Downes, 20/1/2025, Citywire Wealth Manager, 'Exclusive: Tatton hires specialist head from Schroders')M&G Investments has appointed Marcello Arona, former CEO of AXA Investments UK, as CFO for its asset management business, replacing Sean Fitzgerald who is retiring. Arona, with a long tenure at AXA IM, has held roles including COO of AXA IM Italy, Regional CFO for the US, and Head of AXA IM Americas. He was most recently Head of AXA IM UK and AXA IM GS. Arona will oversee M&G’s global financial operations, contributing to its long-term growth. (Dylan Lobo, 20/1/2025, Citywire Wealth Manager, 'M&G hires AXA IM UK CEO as funds finance boss')Two senior figures at Rathbones have recently left the firm: Emma Renals, COO of Rathbones Asset Management (RAM), and Emma Watson, Head of Financial Planning. Renals, who joined in 2017 and became COO in 2023, previously worked at Jupiter Asset Management, Deutsche Bank, and Morgan Stanley. Watson, with Rathbones for eight years, led the firm’s financial planning strategy after spending 11 years at Towry. Their replacements have yet to be confirmed, and it is unclear if they have taken new roles. (Sophie Downes, 15/1/2025, Citywire Wealth Manager, 'Exclusive: Rathbones financial planning head and COO depart')Peter Coleman, former Chief Commercial Officer at Succession Wealth, has been appointed CEO of Kingswood on a permanent basis. Coleman initially joined Kingswood as interim CEO in July 2024 after David Lawrence stepped down. Prior to Succession, Coleman held leadership roles at Wealth Wizards and was CEO of Positive Solutions, which was acquired by Intrinsic in 2013. (Dylan Lobo, 10/1/2025, Citywire Wealth Manager, 'Ex-Succession CCO is named permanent Kingswood CEO')Lauren McHenry of Pareto Financial Planning has achieved Chartered Financial Planner status, six years after starting as a trainee Paraplanner in 2018. McHenry progressed through the firm's qualification and support programme. She holds a law degree from Newcastle University and has 12 years of experience in financial services, including roles in technical support and Paraplanning. McHenry joined Pareto in 2018 after relocating from London to Manchester. (Financial Planning Today, 28/1/2025, 'Pareto celebrates home-grown Chartered Financial Planner')Peter Maddern has been appointed Managing Director of retirement at Canada Life, succeeding Tom Evans, who is leaving for a new opportunity. Maddern will join the UK executive committee, reporting to UK CEO Lindsey Rix-Broom. He brings 18 years of experience at Canada Life, most recently as Vice President of Capital Management at its Canadian parent company. Maddern previously led the bulk purchase annuities (BPA) strategy and played a key role in developing Canada Life’s wealth business. Tom Evans had been leading Canada Life’s home finance business following the 2018 acquisition of Retirement Advantage. (Financial Planning Today, 27/1/2025, 'Canada Life appoints new retirement MD')Acumen Financial Planning has promoted Keith Mackie to Group Managing Director, succeeding Founder Sandy Robertson, who transitions to Group Finance Director. Robertson, who founded the Aberdeenshire-based firm in 2002, will remain with the company. Since its inception, Acumen has expanded across Scotland through acquisitions and organic growth. Mackie joined the firm in 2004 and became a Director in 2014. (Financial Planning Today, 23/1/2025, 'Acumen selects new MD as founder steps back')Julius Baer International has appointed Gareth Johnson as Head of Managed Portfolio Service (MPS) to develop an MPS offering for UK independent financial advisers. Johnson previously spent 22 years at RBC Brewin Dolphin, where he led the MPS division from 2010, helping it grow into a key firm area. He also introduced the MI Select Manager and Voyager Multi Asset ranges. (Financial Planning Today, 21/1/2025, 'Julius Baer launches MPS for advisers')Isabel Hudson will succeed Lynne Peacock as Chair of Royal London on 10 February. Hudson brings extensive experience from senior roles in insurance, pensions, and regulation, as well as non-executive positions in telecoms and house building. She currently serves as a Non-Executive Director at AXA SA and Chair of Guide Dogs, with past roles at RSA Insurance, Phoenix Group, BT, and others. (Financial Planning Today, 17/1/2025, 'Royal London selects Isabel Hudson as next chair')Kate Richardson has joined Brown Shipley as a Client Adviser in London, bringing 17 years of wealth management experience. Previously a Senior Client Adviser at UBS Wealth Management for the South West region, she has held various roles at UBS since 2007. Richardson will focus on building relationships and expanding Brown Shipley's business across southern UK, working with both Brown Shipley and parent company Quintet Private Bank. (Financial Planning Today, 16/1/2025, 'Brown Shipley adds to London advice team')Torsten Bell, former CEO of the Resolution Foundation, has been appointed as the new Pensions Minister following a reshuffle. He succeeds Emma Reynolds, who has been promoted to Economic Secretary at the Treasury. Bell, an economist with nearly a decade of experience at the Resolution Foundation, will continue his predecessor’s cross-department role, also serving as Parliamentary Secretary in the Treasury and Parliamentary Under Secretary of State in the Department for Work and Pensions. (Financial Planning Today, 15/1/2025, 'Torsten Bell MP becomes new Pensions Minister')P1 Investment Services has appointed Michelle Angell as Senior Client Services and Operations Manager. Angell, with over 20 years of experience in wealth management and platforms, will lead the development of P1’s client servicing team. She previously held management roles at Atomos Wealth, Seccl, Abrdn, Winterflood Business Services, and Barclays Wealth. (Financial Planning Today, 13/1/2025, 'P1 Investment Services hires Ex-Seccl manager')All information provided in this market digest has been gathered from Citywire Wealth Manager, Financial Planning Today, Money Marketing, and IDEX Consulting.
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Blog Thumbnails New Size (46) financial services
2025 Employee Benefits talent trends

Our Employee Benefits consultant Ashlea Walton, Client Director, shares her thoughts below on hiring trends, what employers need to implement in 2025 to attract top talent and how employees can enhance their career prospects.If you’re looking for support with your hiring strategy, searching for top talent across the employee benefits sector or considering a new career opportunity get in touch with Ashlea Walton.What’s affecting hiring and employment across the employee benefits market?  M&A activity has ramped up in recent years across the employee benefits market which has resulted in less choice for employees in a consolidated market. Naturally, we’ve seen smaller brokers swallowed up by large corporates and for some, the thought or working for a large business isn’t appealing. As a result of this, the candidate pool for each vacancy becomes smaller. Candidate salary expectations versus client budgets do not always align. Due to the cost of living crisis, some candidates are more incentivised by large salary increases compared to other drivers. This occasionally prices them out of great opportunities when being compared internally, again reducing the candidate pool if there are no compromises. The shortage of candidates continues to be a challenge across the market and has been for a number of years. Lack of new talent entering the market is partly to blame, creating a significant gap at mid-level. This talent shortage is contributing to increased salaries and hiring costs, as firms compete to secure talent to bridge the gap.What are the in-demand roles for your market? As employees, the way in which we access benefits is evolving as we continue to move towards a digital world – the use of technology enables inclusivity; easier access and understanding which in turn leads to a happier and healthier workforce. As such, there’s been a huge increase this year in the number of flexible benefits/benefits technology roles available, to not only support existing clients, but develop new logo business. Group risk, healthcare and wellbeing consultants will continue to be a sought after skillset throughout 2025 as employers strive to support a diversifying workforce in every aspect of their lives including their physical, mental, and financial health. A recent survey highlighted health insurance as one of the most sought after employee benefits and with NHS waiting lists not looking to improve imminently, I can only see this need increasing. As always, new business focused individuals will be of high interest to any firms looking to increase their revenue and capitalise on increased market demand across all areas of employee benefits. What are the in-demand skills employers are looking for? Commercially minded, technically astute, client centric and proactive with an entrepreneurial flair is a winning combination for most hiring managers. Individuals who are focused on a consultative approach with clients opposed to a transactional, product sell is key. Being able to think strategically to support business growth is a key skillset. What do employers need to implement throughout 2025 to be successful in recruiting the best individuals in the market? Focus on your promoting a strong employer brand and don’t fall into the trap of “we have a good reputation and people should want to work here” as that is occasionally not the case. Taking on board market feedback about your culture is key to being able to ensure it is one which will attract high calibre individuals. Being able to demonstrate an inclusive, happy, stable, rewarding and progressive environment will strengthen your chances of securing the individuals you want when they have multiple offers on the table.Ensure a recruitment process is always a two way conversation and you’re as transparent as possible with candidates during the process about the wider business, plans and growth opportunities. Of course, they need to fit your requirements for the role, but you also need to fit theirs!A trusted partnership with a specialist agency is incredibly important. Work with a recruiter who understands your business and will act as an extension of your brand. Someone who can take candidates on the journey to engage them in your business, share your story, successfully fill live vacancies and pipeline passive candidates in-line with your growth strategy, will ensure you’re always one step ahead. With in-demand skills in short supply, its crucial that time to fill is as short as possible.Practice what you preach - if you’re telling clients what employee benefits they need to implement, you need to be doing it for your own employees! It sounds minor but there are definitely still employee benefits firms out there offering poor benefits as part of their remuneration package and it doesn’t send the right message to prospective employees. What do employees need to focus on throughout 2025 to enhance their career prospects? Focus on strengthening your personal brand; a quality CV, industry networking, thought leadership and consistent online presence are some of the ways you can improve this.Put time and effort into your CV. Make it simple, easy to read with a professional presentation and, include financial targets and achievements to demonstrate your ability. Be concise whilst ensuring its in-depth enough to contain all of the relevant information about your experience. Keeping a CV to two pages is an outdated approach in my opinion and it is key you are utilising this as your first chance to sell yourself. Find a recruiter you trust and stick with them! You need to partner with someone you feel has a genuine interest in your career, knows the market, can demonstrate strong relationships with key businesses, is responsive and is knowledgeable to ensure you receive insightful prep ahead of any interviews. Think about what value you can add to a business above and beyond your role – this really makes you stand out as someone who will go the extra mile. If you’re asking for a top heavy salary which may be above banding, this is key. If you’re asking for more than current employees or other candidates in the process, you need to be able to demonstrate why you’re worth it.Finally, ensure you can demonstrate a sound understanding of the market; trends, new legislation, opportunities and challenges. This gives your prospective employer confidence that they are hiring someone who is interested, proactive and will continue to develop within their organisation.If you’re looking for support with your hiring strategy, searching for top talent across the employee benefits sector or considering a new career opportunity get in touch with Ashlea Walton.​
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Blog Thumbnails New Size (43) financial services
2025 Wealth Management employment outlook

​As wealth management firms prepare for a period of growth, innovation and change, attracting skilled specialist talent will be incredibly important.Strong growth and falling rates puts the sector in a strong position to do well, and as the industry undergoes a huge amount of transformation, especially regarding rapid technological advancements, firms will need to adapt their recruitment strategies. From our research 73% of employers across the Wealth Management sector said they’re planning to hire new talent in the next year, yet 64% said they think they will struggle to find suitable applicants. Research shows that this is partly due to an ageing population, with nearly half of financial advisers and advisers planning to retire in the next five years. Other reasons include negative workplace cultures, misalignment of values and a lack of investment in market leading tools and technology. Additional insights from our 2025 Wealth Management Salary Guide and Market Sentiment report include a range of interesting factors employers and professionals should pay attention to.65% of respondents said their biggest market challenge will be compliance and regulationAs the FCA increasingly becomes a data led regulator it’s expectations of firm’s reporting abilities increase. Over recent years stricter policies around conduct risk have been implemented to ensure risks are raised and handled appropriately. Heightened focus has been on high profile errors in the retail banking sector which have increased pressures on wealth managers operating in universal banks and bank holding companies. Frameworks and policies that ensure compliance with the consumer duty will continue to be key and firms will be assessed on whether they have sufficient data to evidence good customer outcomes. The FCA have confirmed they will intervene if there is a lack of data and evidence. One of the regulator’s reports showed that “49% of portfolio managers and 69% of stockbrokers had identified no vulnerable consumers” (Deloitte: Investment management and wealth – supervisors demand strong governance).33% of employees said their salary had stayed the same for the past 12 months Competitive compensation packages remain one of the most important factors when attracting and retaining top talent. When we asked employees across the profession what was most important to them when choosing an employer, pay, non-financial benefits and career progression ranked as the top three. A study conducted by Arizent, insights and data company, that surveyed 600 people across wealth management, banking, accounting and other industries, illustrated that “28% [of respondents] said low compensation was the top driver of turnover” (Financial Planning: 4 ways firms can win the war for advisor talent).82% of employers said they don’t have an employee value propositionPeople are drawn to wealth management firms that encompass a culture they can respect, and aligns to their own values. In order to stand out in a saturated market it’s incredibly important for firms to clearly define and communicate their core purpose with a compelling narrative and brand story. May firms likely have a strategy for diversity and equity, ESG, charitable giving and wellbeing, but few take the time to assess their differentiators and market them effectively. For guidance on developing an effective employer value proposition get in touch.For more insights on the wealth management employment market, plus accurate salary data and hiring predictions for the next year access our 2025 Wealth Management Salary Guide and Market Sentiment report. 
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Blog Thumbnails New Size (41) financial services
2025 Financial Services talent trends 

​Our Financial Services consultants; Alex Merrick, Client Director and James Salmon, M&A Client Director share their thoughts below on hiring trends, what employers need to implement in 2025 to attract top talent and how employees can enhance their career prospects. If you’d like support with your hiring strategy, looking for top talent or exploring new career opportunities get in touch with Alex who will be happy. Alternatively, if you’re exploring your M&A options and would like some intel on the market, speak to James who is our M&A expert.What’s affecting hiring and employment across the Financial Services market? Operating costsEconomic uncertainty post-budget has turned the dial on operating cost and has stripped profit from a business’ bottom line, leading to employers becoming more stringent with their hiring needs. As a result, hiring activity for skilled and experienced professionals is tightening. Lack of new talent entering the marketRetirement continues to be pressing amongst the Financial Adviser community. 60% of the adviser population is expected to consider their retirement options in the coming three to five years. There are clear demographic shifts and not enough sufficient junior-talent joining the profession. AI and technological disruptionThere has been a huge rise in automation and this is only set to continue, which is expected to reduce the need for transitional advisory roles particularly for clients with a 'vanilla' type service, whilst also fulfilling process and administration gaps. Digital transformation now also enables engagement via virtual meetings for instance, which favours the more tech-savvy client and candidate.Regulatory changeConsumer duty and fair value testing is widening the advice gap, as larger employers seek to implement minimum fee thresholds. The FCA’s and other mandatory regulation requirements will continue to add pressure on operating models and client delivery. What are the main in-demand roles across Wealth Management?The most in-demand roles are; Financial advisers and planners, Paraplanners, Regional Managers, M&A specific roles (Integration, Project/Programme Management, Administration, Change, Transformation) and roles associated with compliance, quality assessment and risk assurance. What are the in-demand skills employers are looking for?This completely depends on the role and business need, however in general a good, qualified adviser will have strong interpersonal skills and a commitment to continued professional development or further study. It’s also becoming increasingly important for employees to have a good understanding of technology, AI tools and automated data management systems. They also need to be able to use cashflow modelling and adapt to an ever-changing regulatory environment. A candidate’s professional expertise and skillset is their brand, so a high level of professional integrity, alongside competence and an ability to network, whilst being ethical in having difficult conversations, will put someone in a strong position.From a senior management perspective, businesses are looking for individuals who have both a proven and demonstratable track record, an ability to think strategically (blue sky, growth mindset, innovative) and make an impact. Strong leaders in this sector have a high Emotional Quotient (EQ), and an ability to articulate and execute a vision which promotes certainty, direction and growth whilst still being inclusive and collaborative. From an operational and compliance perspective employers are seeking individuals with a strong understanding of regulation and the FCA's direction of travel, since dealing with legislation risks faced and a changing regulatory environment is key. It’s also worth noting that candidates with a strong familiarity of new and existing tools that are entering the market, plus the ability to strategise will show to employers they are able to future proof and innovate.What do employers need to implement in 2025 to be successful?Employer branding Employers need to set out their unique differentiators and explain the ‘so what factor’ for professionals. It’s never been more important to create a compelling brand story that brings to life a company’s mission and impact on society. Benchmark salaries and packagesIt's not breaking news that we're in an unstable economic climate where interest rates and the cost of living remain high. Top employers create compelling compensation, reward and package incentives which entice individuals. Professional career pathsBe clear on your how you will support the longevity of someone’s career, where will the role go next? What support will someone receive from HR and the Learning and Development team? Be flexible on location to attract diverse talent poolsAs competition for top talent grows, it’s crucial that employers don’t restrict their talent pools, the wider they cast the net the greater chance they have of finding the best candidate. Be ahead of the curve with innovation and technologyEarly adopters tend to spur greater interest. Those who are challenging the status quo and trying something different will attract high-performing individuals who want to join a forward-thinking business. The development of AI within Financial Advice is compelling and will enable businesses to do more with less. What do employees need to focus on in 2025 to enhance their career prospects?Be proactive and review your circumstances regularlyFinancial advice is reviewed annually, and professionals need to stay on top of market developments, regulatory change and business innovation. Being proactive increases the likelihood of finding new opportunities and enhancing career growth. Learn about AI and technological developmentsAI and the development of technology is changing the industry and how businesses operate. To avoid being left behind professionals need to upskill themselves and when it comes to technological and software programmes. In time the impact on operating cost will be significant, and on roles such as administration, paraplanning, and the wider advice process from a file checking and compliance perspective.If you’d like support with your hiring strategy, looking for top talent or exploring new career opportunities get in touch with Alex who will be happy. Alternatively, if you’re exploring your M&A options and would like some intel on the market, speak to James who is our M&A expert.​
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Financial Services newsletter Friday 10th January 2025

​Financial Services NewsWealth manager Tavistock reported a £0.2m operational loss for the six months to September, compared to a £0.9m profit in 2023, with revenue down from £20.6m to £19.6m and adjusted profits falling two-thirds to £0.7m. Following disputes with former partner Titan Wealth and the £22m sale of its advice business to The Saltus Partnership, the firm plans to reposition its operations. (Financial Planning Today, 9/12/2024, 'Tavistock posts loss after turbulent six months')Quilter Financial Planning has added five new Appointed Representative firms to its advice network, including former St. James’s Place advisers Chris Bibby (Bibby & Co, Liverpool) and Anthony Poole (Adams and Poole Financial Services, Manchester/Uttoxeter). Other additions include Wolverhampton-based family practice Personal Finance Matters, led by Babita Nahal and Anil Duggal; Essex-based James Joseph Generational Wealth Planning, run by Chartered Adviser Tony Farrell with 35+ years of experience; and Bromley-based Redgate Financial Ltd, led by Edward and Emily Tory. (Financial Planning Today, 5/12/2024, 'Quilter network adds 5 new AR firms')A Wesleyan poll found that 91% of financial advisers expect increased market volatility in 2025, with 84% believing it threatens investment performance and 24% predicting over 40% of clients may avoid real assets due to uncertainty over inflation and Bank of England rate decisions. (Financial Planning Today, 3/1/2025, 'Advisers braced for greater market volatility in 2025')Financial services veteran Ken Davy, awarded an OBE in the King’s New Year Honours for services to community rugby league, has had a 50+ year career founding successful ventures like SimplyBiz (now Fintel) and DBS, proving the profitability and value of well-run adviser firms. (Financial Planning Today, 3/1/2025, 'Industry giant Ken Davy awarded OBE')XPS has launched the DC:UK Savings Watch tracker to benchmark typical DC pension pots at retirement against the PLSA/Loughborough Retirement Living Standards, offering insights for employers and trustees on pension adequacy and retirement income goals. (Financial Planning Today, 31/12/2024, 'XPS launches new DC pension tracker')Investment manager and Financial Planner Redmayne Bentley reported a 59% rise in profits to £7.06m and an 11.7% increase in revenue to £36.2m for the year ending 31 March. The Leeds-based firm, with over 25 UK offices, highlighted strong financial performance in its latest update. (Financial Planning Today, 23/12/2024, 'Profits up 59% at Redmayne Bentley')Prime Minister Sir Keir Starmer, joined by Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds, urged key regulators, including the FCA, to propose reforms by mid-January to reduce red tape, boost business growth, and address the UK’s stagnating economy. The letter emphasized the need for bold ideas to stimulate economic recovery and foster sectoral development. (Financial Planning Today, 30/12/2024, 'FCA set to respond to Starmer call for growth')Defaqto has named four hybrid advice "trailblazers"—Pension Potential (Punter Southall), Destination Retirement (Hub Financial Solutions), Smart Retire (Smart Pension), and My Time—as pioneers in addressing the pensions advice gap. With FCA data showing 69% of over 885,000 pension pots accessed without advice in 2023/24 and many retirees making unsustainable withdrawals of 8% or more annually, these innovations aim to tackle this critical issue. (Financial Planning Today, 30/12/2024, 'Hybrid advice 'trailblazers' helping bridge pensions gap')Rising regulatory costs, including the Consumer Duty, are driving financial advisers to increase minimum client portfolio sizes, with over half raising the average to £117,000—up 17% from £100,000 last year. The Scottish Widows Investor Confidence Barometer highlights this trend, noting advisers are moving upmarket to manage compliance burdens and leverage changes like the LTA scrapping. (Financial Planning Today, 20/12/2024, 'Average client portfolio size up 17% in a year')The Consumer Duty Alliance (CDA) has launched a free diagnostic tool to help firms track their progress on Consumer Duty compliance and identify business growth opportunities. The tool, developed with fintech Consumer Duty Diagnostic, enables firms to assess and report on their client-centric readiness. With the FCA expected to focus more on compliance in Q1 2025, the CDA—boasting over 20,000 members—supports advisers in meeting the requirements of the Consumer Duty, which ensures fair and engaged client treatment across all stages of the customer journey. (Financial Planning Today, 5/12/2024, 'Consumer Duty Alliance launches free diagnostic tool')Harry Sevier, former Investment Director at Ruffer, has partnered with P1 Investment Services to launch Lulworth Investment Management, a boutique firm offering discretionary management to private clients, charities, and advisers. Based in London, Lulworth will introduce absolute return, time-horizon focused portfolios tailored to growth, income, and ethical mandates, with an approach blending active management and capital preservation. These portfolios will be available on the P1 Platform and other investment platforms. Sevier, who spent 15 years at Ruffer, holds a CISI diploma and an outstanding achievement award for investment analysis. (Financial Planning Today, 3/12/2024, 'Ex-Ruffer investment director launches boutique firm')Tavistock will reposition its business after receiving £22m from The Saltus Partnership for its network of 140 self-employed advisers. The funds will refocus the firm on asset management services for third-party firms and the public, retaining its Tavistock Private Client and Tavistock Protect businesses. The acquisition of Alpha Beta Partners is part of this strategic shift. (Financial Planning Today, 2/12/2024, 'Tavistock confirms repositioning after £22m Saltus deal')Oberon Investments saw a 74% revenue increase to £4.8m for the six months to September, driven by growth in investment management, wealth planning, and corporate broking. Despite a reduced Ebitda loss of £0.96m, the firm remains on track to exceed its 30% revenue growth target for the year. (Dylan Lobo, 18/12/2024, Citywire Wealth Manager, 'Wealth boutique’s revenue jumps 74% as hire spree bears fruit')The Wealth Management talent shortage - The wealth management industry faces a talent shortage due to an ageing workforce and lack of younger professionals. To address this, firms should update recruitment strategies, improve training, and raise career awareness. (IDEX Consulting news, 'The Wealth Management talent shortage')The gender pay gap in Financial Services - The gender pay gap in the UK financial services sector remains significant, with an average gap of 22.7% in 2022-23, second only to the education sector. Notably, major banks like HSBC, Goldman Sachs, Morgan Stanley, and Standard Chartered reported widening gaps in 2022, attributing this to the under-representation of women in senior roles. (IDEX Consulting news, 'The gender pay gap in Financial Services')The biggest challenges facing Financial Advisers - Financial advisers are currently navigating increased work pressures, a challenging economic climate, and growing client demands. Key challenges include adapting to economic pressures, regulatory changes, and talent shortages. (IDEX Consulting news, 'The biggest challenges facing Financial Advisers')Reports of non-financial misconduct on the rise - Reports of non-financial misconduct in the financial services sector have risen significantly, with bullying, harassment, and discrimination being key concerns. This increase may indicate both a higher incidence of such behaviours and improved internal reporting mechanisms. The Financial Conduct Authority (FCA) is expected to introduce stricter standards to address these issues. (IDEX Consulting news, 'Reports of non-financial misconduct on the rise')Mergers and AcquisitionsAzets Wealth Management, the advice arm of Azets Group, has acquired Newcastle-based IFA Laurus Associates, founded by Karen Barwick and Colin Dawson, for an undisclosed sum. The acquisition, expected to complete by month-end, will integrate Laurus's team of 10 into Azets Wealth Management's UK operations. (Victoria Bell, 7/1/2025, Citywire Wealth Manager, 'PE-backed Azets Wealth Management buys Newcastle firm')Foster Denovo has acquired Midlands-based Brian Mole IFA, adding £300m in assets under advice and expanding its UK footprint with a 14th office. The deal, its sixth acquisition in 12 months, includes seven advisers and nine support staff serving 1,300 clients. (Financial Planning Today, 4/12/2024, 'Foster Denovo acquires £300m AUA Midlands IFA')In further news...Foster Denovo has acquired Verum Wealth, adding £87m in assets under advice to its Glasgow hub, marking its seventh acquisition in over a year. This follows a series of recent acquisitions, expanding its national footprint with firms like Brian Mole, 80Twenty, Wade Financial, and Creative Financial Solutions, establishing 14 offices across the UK. Verum Wealth, founded by Tony McPhee in 2015, previously operated as a joint venture with an accountancy firm. (Momodou Musa Touray, 8/1/2025, Money Marketing, 'Foster Denovo expands in Scotland with £87m IFA acquisition')​European life and pensions consolidator Chesnara has acquired Canada Life's onshore bond arm, adding a closed portfolio of unit-linked bonds and legacy pension business with 17,000 policies and £1.5bn in assets. The policies will transfer to Chesnara’s UK subsidiary, Countrywide Assured, by the end of 2025, pending regulatory approval. This follows Chesnara’s 2023 acquisition of Canada Life's individual onshore protection business. (Financial Planning Today, 23/12/2024, 'Consolidator snaps up Canada Life’s onshore bond arm')Titan Wealth has acquired Independent Wealth Planners (IWP), adding £6.6bn in client assets and two trading businesses (IWP Financial Planning and IWP Investment Management). The deal, subject to regulatory approval, will increase Titan Wealth’s total AUM/AUA to around £35bn and make it one of the largest Financial Planning businesses in the UK, with over £14bn in assets under advice. (Financial Planning Today, 18/12/2024, 'Titan Wealth acquires Financial Planner IWP')Söderberg & Partners, a rapidly expanding Swedish-owned wealth manager and Financial Planner, has acquired stakes in three UK IFA firms—Hoyl Independent Advisers (£3bn+ assets, 42 advisers), Intelligent I-FA (£300m+ assets, 13 advisers), and Mosaac Ltd (£230m+ assets)—with financial details undisclosed. (Financial Planning Today, 2/12/2024, 'Söderberg takes stake in 3 UK advisers')Brooks Macdonald has acquired Norwich-based Lucas Fettes Financial Planning (£890m assets under advice, £300m assets under influence) to enhance its Financial Planning capability and presence in East Anglia, integrating it into its direct wealth business. (Financial Planning Today, 2/12/2024, 'Brooks Macdonald completes acquisition of Norwich Planner')Chartered Financial Adviser and wealth manager Skerritts has rebranded as Shackleton, relocated its HQ to London, and acquired four firms—Save & Invest (£550m AUM), Fleming Financial (£250m AUM), Robson Lister (£350m AUM), and Shorts Financial Services (£350m AUM)—bringing its total AUM to £5.5bn after 15 acquisitions since a £55m investment by Sovereign Capital Partners in 2021. (Financial Planning Today, 2/12/2024, 'Skerritts rebrands as Shackleton and buys 4 firms')Milecross Financial, a Northern Ireland-based financial adviser, has acquired Milton Keynes-based The Martin Cliffe Practice for an undisclosed amount, marking its fourth acquisition of the year. The deal adds £80m in funds and 650 clients, with the Martin Cliffe team of seven—including four advisers—joining Milecross. The firm plans further acquisitions in 2025. (Financial Planning Today, 10/12/2024, 'Milecross snaps up Milton Keynes Financial Planner')​MoversSchroders has appointed Philip Chandler as the new CIO for its £6.3bn investment solutions business, replacing Alex Funk, who left in May. Chandler, a company veteran since 2003, was previously Head of the multi-asset team and Co-Manager of the global multi-asset portfolio range. He will retain his multi-asset role while taking on the new position. Chandler's global multi-asset growth portfolio outperformed the peer group average with a 15.2% return over three years, compared to the 11% average. (Natalia Vasnier, 7/1/2025, Citywire Wealth Manager, 'Schroders ends CIO search for £6.3bn solutions business')Manchester-based Pareto Financial Planning has relocated its HQ to the refurbished Old School House building in Spinningfields, adding new staff including Financial Adviser Joe Heaword, previously with Camargue Chambers LLP, and Employee Benefits Consultant Nathan Clarke, who has a background in banking and wealth management. The 1886 building has been renovated to support Pareto’s growing team, including future needs for expansion. (Financial Planning Today, 11/12/2024, 'Pareto opens new Manchester HQ and boosts team')Simon Pryke is stepping down as CEO of Findlay Park after nine years, with Rose Vangerven set to succeed him in April, while Pryke will assume the role of Executive Chairman. Vangerven, a Partner since 2021, led the integration of ESG issues into the firm’s investment process and has prior experience at BlackRock and Columbia Threadneedle. She has also served as Deputy Chair of the Independent Investment Management Initiative since 2022. Praising Vangerven’s ‘significant contribution’ to Findlay Park, Pryke and CIO Anthony Kingsley, said she had ‘been an outstanding candidate to succeed Simon as CEO for some time’. (Sophie Downes, 8/1/2025, Citywire Wealth Manager, 'Exclusive: Findlay Park names new CEO as Pryke steps back')Brown Shipley CEO Calum Brewster is leaving the business after three years. Chief Operating Officer Robert Kitchen will lead the firm on an interim basis until a successor is appointed. Brewster joined Brown Shipley from Julius Baer. (Wealth Manager Team, 7/1/2025, Citywire Wealth Manager, 'Eight big wealth moves in December')Nick Wood, Quilter Cheviot’s Head of Fund Research, has been promoted to Head of the firm’s regional business, replacing Richard Thorn, who retired after 38 years. Wood has been with the firm since 2012. Matt Ennion, who joined in 2019, replaces Wood as Head of Research. (Wealth Manager Team, 7/1/2025, Citywire Wealth Manager, 'Eight big wealth moves in December')James Hambro’s £500m Leeds office lost two seasoned investment professionals at the end of the year. Ed Binks is believed to be joining Rothschild, while Ed Marsden is heading to Titan Wealth. Marsden and Binks had joined James Hambro to launch the Leeds office in 2020, alongside Aidan Butler, after their previous roles at Abrdn Standard Life. (Wealth Manager Team, 7/1/2025, Citywire Wealth Manager, 'Eight big wealth moves in December')HSBC's Chief Executive for global private banking and wealth, Annabel Spring, has left her role following a restructure under new CEO Georges Elhedery. The restructure created an international wealth and premier banking division, led by Barry O’Byrne. Spring’s responsibilities will be split between Lavanya Chari, Head of Wealth and Premier Solutions, and Gabriel Castello, interim CEO for global private banking. HSBC will announce a permanent successor later. Jose Carvalho remains Head of Wealth and Personal Banking in the UK. (Wealth Manager Team, 7/1/2025, Citywire Wealth Manager, 'Eight big wealth moves in December')Close Brothers CEO Adrian Sainsbury has stepped down three months after taking medical leave, with Finance Director Mike Morgan replacing him. Sainsbury, who joined Close in 2014 and became CEO in 2018, is expected to make a full recovery. Morgan had been serving as acting CEO during Sainsbury’s absence. (Dylan Lobo, 7/1/2025, Citywire Wealth Manager, 'Close CEO steps down after medical absence')Wren Sterling's Executive Chairman Ian Darby retired at the end of 2024 after nearly 10 years at the firm. Darby led the management buyout of Towergate Financial in 2015 and oversaw a secondary buyout by Lightyear Capital in 2021, marking significant private equity-backed milestones for the company. (Victoria Bell, 6/1/2025, Citywire Wealth Manager, 'Wren Sterling chair Darby exits after a decade')Hurst Point Group has appointed Michael Bishop, former Head of Wealth at WH Ireland, as Managing Director for its investment management business, replacing Sarah Soar, who stepped down after five years. Bishop brings over 20 years of experience in wealth management, having previously held roles at PwC, UBS, and WH Ireland. (Sophie Downes, 2/1/2025, Citywire Wealth Manager, 'Hurst Point hires ex-WH Ireland wealth head to replace Hawksmoor CEO')Brooks Macdonald has appointed Ben Johnson as Head of Business Development and James Goward as Head of Sales Enablement, both joining from Rathbones. Johnson, a former Regional Sales Head at Rathbones, will lead business operations, while Goward, formerly Head of Distribution Operations, will oversee sales enablement. (Dylan Lobo, 20/12/2024, Citywire Wealth Manager, 'Brooks appoints business head in double Rathbones hire')Titan Wealth appointed Scott Hamilton as Head of Sales for Titan Private Wealth to expand its high-net-worth market presence. Hamilton, with 25 years of experience, joins from Succession Wealth, succeeding Mark Livesey, who transitions to Group Managing Director. (Momodou Musa Touray, 8/1/2025, Money Marketing, 'Titan hires head of sales from Succession Wealth')Steven McBurnie, a Chartered Financial Planner with over five years of experience on the CISI PPIG committee and a Paraplanner at Glasgow-based Wright, Johnston & Mackenzie, has been appointed Chair of the CISI Paraplanner Interest Group, succeeding Dan Atkinson after five years, to continue supporting paraplanners globally in networking and sharing insights. (Financial Planning Today, 6/1/2025, 'New chair of CISI Paraplanner Interest Group')Hoxton Wealth has appointed Jordan Maxwell as a Financial Planner in its UK team. With a degree in urban planning and development, he began his career in Saudi Arabia before returning to the UK, where he worked in investment as an Investor Relations Manager, Client Adviser, and Paraplanner. (Financial Planning Today, 6/1/2025, 'Hoxton Wealth adds Financial Planner to UK team')Brown Shipley, part of Quintet Private Bank, has appointed Lindy Kroese as a Wealth Planner for its Leeds team. With over a decade of experience in the UK and South Africa, she joins from Balance Wealth Planning, where she specialised in estate, succession, pension, and retirement planning. She began her career at Old Mutual in South Africa before moving to Quilter Private Client Advisers. (Financial Planning Today, 31/12/2024, 'Brown Shipley hires South African planner')CISI has appointed James Morris, an experienced Broker and Trader, as Ireland Country Head. Formerly with StoneX Group in Dublin, where he oversaw clearing, execution, and sales, he also held roles at Crux Shipbrokers in Dublin and MINT Partners in Singapore and Dubai. Based in Dublin, he will manage client relationships in Ireland and Northern Ireland, succeeding Deirdre Lawson. (Financial Planning Today, 17/12/2024, 'CISI selects new Ireland country head')Evelyn Partners has appointed Mimi Corden-Lloyd as an Associate Director in its London Financial Planning team. Based at the Gresham Street office, she brings extensive experience from over two years at Coutts, where she served as Associate Director in the sports, media, and entertainment wealth management team, advising high-profile clients on complex financial matters. Alongside her corporate expertise, she is a competitive runner, representing Great Britain at the European Champion Clubs Cup in Portugal and competing at national and international levels since the age of nine. (Financial Planning Today, 17/12/2024, 'Evelyn adds to 300-strong Financial Planning team')Chartered Financial Planner James Herbert has joined Plymouth-based Continuum as a Financial Adviser, focusing on the Staffordshire region from his Stoke on Trent base. Specialising in investments, pensions, estate planning, and protection, he joins from Amber River True Bearing and previously spent over 13 years as Wealth Planning Director at Atomos Wealth. He chose Continuum for its resources while maintaining his independence. (Financial Planning Today, 13/12/2024, 'Chartered Financial Planner joins Continuum')​All information provided in this market digest has been gathered from Citywire Wealth Manager, Financial Planning Today, Money Marketing, and IDEX Consulting.
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The wealth management talent shortage and how to tackle it

​What would typically be a natural cycle of one generation handing knowledge and expertise to the next, is now a cross-roads with a lack of young professionals entering the wealth management profession. This shortage of younger talent leaves a fundamental gap that could reshape the industry. A departing workforce paired with a declining pipeline of new advisers has firms questioning what they can do to address the issue and how they can attract a new wave of young professionals.“The wealth management industry is facing a significant talent shortage, fuelled by shifting priorities among younger generations, who increasingly prioritise a more flexible work-life balance and purpose over traditional career paths. However, this challenge presents an opportunity for businesses to rethink their approach so they can attract and retain the next wave of talent. With the right strategy, firms can overcome the talent gap and also position themselves for long-term success in an evolving market,” says Graeme Hyland, Business Manager at IDEX Consulting. To put the scale of this situation into context, research has found that nearly 50% of wealth management professionals plan to retire by 2029 (International Adviser: One in two UK financial advisers plan to retire during the next five years). Along with the significant drop of professionals in the industry, only 4% of workers in the UK have considered a career in financial advice due to limited awareness of the profession and it’s benefits (FT Adviser: Only 4% of UK have considered career in financial advice). The lack of interest to enter the field brings the average industry growth rate far below other professions. To look at the current wealth management workforce, only 6% of advisers are under the age of 30 years old which points towards a severely ageing industry (FT Adviser: Only 6% of advisers are under 30 years old). There is a need for firms to reassess their approach to recruitment, training, and retaining the next generation of advisers to ensure the future success of the profession. If younger professionals don't step in to bridge the gap, firms risk losing new expertise, diversity of thought and driving innovative business practices. What’s causing the talent shortage?The reasons behind the lack of younger people joining the wealth management profession are multi-faceted. Here are a few key factors impacting talent attraction: Perceived barriers to entryMany young people are deterred by the high barrier to entry in wealth management. While the industry offers lucrative career opportunities, the path to becoming a financial adviser often requires a combination of advanced education, certification, and a significant amount of mentorship or on-the-job training. Additionally, the need to build a client base from scratch can feel daunting to younger people, who may not have the personal networks, knowledge or resources to get started. Some firms have battled the negative perceptions surrounding the industry with inclusive campaigns to attract younger people from diverse backgrounds and create a more accessible industry (Advisors: Wealth Managers Fear UK Talent Shortages To Stay Or Worsen). Changing career prioritiesThe younger generation, particularly Gen Z and millennials, have different career priorities compared to older generations. Flexibility, work-life balance, and a clear sense of purpose are high on their list. Wealth management, traditionally known for long hours and demanding workloads, may not always align with these values (Consultancy UK: Firms struggle to adapt to expectations of Gen Z). Many young professionals may instead be drawn to careers in technology, marketing, or other industries that offer more flexibility and innovation.Lack of awareness and outreachWhile wealth management offers a fulfilling and well-compensated career path, it often lacks the same visibility as other fields, like technology or other areas in finance. Financial advising may not be top of mind for students or early-career professionals because it is often viewed as a niche role, overshadowed by more prominent careers in banking, consulting, or investment management (Detailed Guide: Wealth Management vs. Investment Banking). Without active recruitment and awareness-building, firms are missing out on young talent who might not even realise wealth management is an option for them.Technology disruptionThe rise of technology and digital tools has also had an impact on the profession. While technology can enhance the client experience and streamline processes, it has also created a perception that wealth management is becoming more automated (MIT Sloan: Can generative AI provide trusted financial advice?). Many younger professionals are concerned that automation and artificial intelligence will replace the human element of the job, diminishing the need for traditional financial advisers. How firms can attract the next generation of talentHere are a few actionable strategies to attract a new workforce into the wealth management industry:Reframe the narrativeWealth management firms need to reframe how they talk about the profession. Rather than focusing solely on the numbers or the technical side of financial planning, firms should emphasise the impact of the work. For instance, by showcasing what they do to help individuals, families, and businesses achieve their financial goals and create lasting legacies. By positioning wealth management as a career that makes a tangible difference to people’s lives, firms can appeal to younger professionals who are driven by purpose (Forbes: Why A Purpose-Driven Approach Is Crucial To Your Wealth Management Business).Offer flexible working environmentsTo align with the preferences of younger professionals, firms should consider offering more flexibility in terms of work hours and remote work options. Hybrid or fully remote models are especially attractive to millennials and Gen Z, who value work-life balance and autonomy. Demonstrating care for people’s work-life priorities through action is more effective than trying to communicate this through words when acquiring new talent (Dow Jones: How Financial Advisors Can Reach Younger Generation). Firms that offer flexibility will be more likely to attract younger candidates who might otherwise be deterred by rigid, traditional work environments. Invest in professional developmentDespite a tight labour market, hybrid working, and progressing worker expectations, many young people are still looking for careers that offer growth and learning opportunities. Firms can appeal to this by investing in robust professional development programmes, mentorship opportunities, and clear career progression paths (Broadridge: Wealth Management Firms Need a New Approach to Attract Young Talent). A structured training programme that allows young advisers to learn the ropes while working alongside experienced professionals can also make the job more accessible and approachable. Offer competitive compensation and incentivesWhilst work-life balance and purpose-driven careers are important, compensation is still a critical factor. Firms need to offer competitive salaries, benefits, and performance-based incentives to attract top talent. Additionally, offering opportunities for advancement can provide long-term incentives that keep younger advisers motivated and committed to the firm. Check if you are offering prospective employees the right salaries that are in line with market expectations using our free 2025 Salary Guide and Market Sentiment report. Our expert consultants are available to assist with your talent strategy, business transformation needs, or discuss our services and solutions. If you’d like further details or simply wish to have an informal conversation, don’t hesitate to reach out. Sources:Broadridge: Wealth Management firms need a new approach to attract young talentConsultancy UK: Firms struggle to adapt to expectations of Gen Z Dow Jones: How Financial Advisors can reach younger generationsForbes: AI Is taking over accounting jobs as people leave the professionForbes: Why a purpose-driven approach is crucial to your wealth management businessFT Adviser: Only 6% of advisers are under 30 years old FT Adviser: Only 4% of UK have considered career in financial adviceInternational Adviser: One in two UK financial advisers plan to retire during the next five years | International AdviserJLL Research: Financial services firms rethink their wealth management strategiesMergers & Inquisitions: Wealth Management vs. Investment BankingMIT Sloan: Can generative AI provide trusted financial advice?Wealth Briefing: Advisors, Wealth Managers fear UK talent shortages to stay or worsen
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The biggest challenges facing Financial Advisers

Financial advisers today face many challenges in their day to day roles due to increased work pressures, a challenging economic climate and growing client demands. Recent advancements mean professionals in the industry are required to juggle various responsibilities, growth targets and duties. “2024 has been quite a turbulent year for professionals in the financial advice sector. An uncertain economy, fluctuating inflation rates, changing regulations especially around the Consumer Duty and a talent shortage has added pressures and work strains to jobs and responsibilities. However, 2025 brings new opportunities, especially around the adoption of technology. Those firms who deploy tech solutions quickly will see huge advantages, especially around risk management, efficiency and revenue”, says Alex Merrick, Client Director, Financial Services, IDEX Consulting.  If you’re considering your career options across the Wealth Management sector or need support with your hiring strategy get in touch with Alex Merrick, who will be happy to help. ChallengesEconomic pressures The financial industry continues to face unique pressures and continued uncertainty. Financial advisers in particular are navigating a challenging economic environment seeing slow growth and high interest rates. When looking at the current state of investment plans against the cost of living crisis, 53% of advisers reported that some clients have needed to change their investment plans (Schroders: What are the key challenges facing financial advisers in 2023?).Regulators are moving forward with stricter standards as Brexit prompts changes to EU-based regulations. The FCA has recently investigated the internal practices and processes within financial firms and remains focused on enforcing Consumer Duty (FCA: Consumer duty implementation good practice and areas for improvement). Maintaining compliance with updated regulations can be expensive as well as time consuming. In addition, the link between Consumer Duty and ‘price vs value’ will add pressure on advisers to effectively communicate the value of navigating clients through turbulent market conditions.The recession is yet another threat financial advisers are facing. Being a natural part of the economic cycle, 2025 will not be the first nor the last time the risk of recession occurs. The outcomes of a recession can be catastrophic for firms that are not sufficiently prepared (RocketFin: Facing the future: the top challenges for financial services companies in 2024).To mitigate risk, firms should establish a robust risk management framework. Frameworks should incorporate stress testing and scenario analysis along with contingency plans that are tailored to managing risks associated with any potential recession (McKinsey: Derisking AI: risk management in AI development). With the tax changes announced by the government financial advisers must ensure they have the necessary intelligence and data to advise clients on their investments in an informed and timely manner (Financial News: What concerns UK financial advisers in 2024).Inflation and client expectations The relationship between money and emotion is a psychological area that financial advisors will be acutely aware of and able to manage. Requiring ongoing effort, advisors must continuously show the value they bring to a client’s wealth portfolio, investment returns and interest rates. With interest rates remaining near historic lows, it has been tough for those who rely on income from their investments. Advisers have frequently added higher-risk assets to portfolios but there is a potential for these to lose value with inflation and rising interest rates (Lloyds Bank: What is inflation and what does it mean for your money). Over the past couple of years inflation has surged to an unprecedented 20-year-high which has landed financial planners and advisers in an unfamiliar environment, facing a new level of the ‘unknown’ (Professional Adviser: Inflation and financial planning – focusing on the bigger picture). The amount of uncertainty has created scenarios where advisers are unable to use old data modelling and financial analytics to justify market predictions and assumption, leading to increased client scrutiny and potential risk of diminished trust. Artificial intelligenceArtificial intelligence should be integrated strategically to enhance an already well-functioning system that is based on human connection, skill, and empathy. Increased reliance on technology has the potential to create an environment which neglects social skills essential for the profession. In a similar way to how financial advisers warn clients against impulse investment decisions led by herd mentality, the same caution must be applied to artificial intelligence (GOVUK: The benefits and harms of algorithms: a shared perspective from the four digital regulators). Failure to do so could create devastating financial outcomes for clients and a risk of credibility damage for financial advisers. Another crucial challenge which impacts financial advisers is the implication AI has on fraud, making it more seamless and frequent across the industry. Financial advisers are targeted with convincing communications every day, making the likelihood of a hacking incident more of a ‘when’ rather than an ‘if’ (FTAdviser: How to assess AI’s threats and opportunities). Financial advisers invest a huge amount of time and effort building client relationships which can be easily sabotaged with a cyber-attack. Open communication, trust, strong client relationships and empathy is the foundation of effective financial advice practice, which AI cannot replace. (IFA Magazine: Before AI met wealth management & the tech challenges we forget about). AI tools can be misleading, resulting in inaccuracies, technical errors and misguided algorithms. Tools and software systems must therefore be seen as a powerful addition rather than a reliable holistic solution.Although there are risks associated with AI, it also offers a number of opportunities especially regarding automation and speed. Financial Advisers who use voice-controlled automated financial planning software are able to better inform their clients.If you’re looking for support with your hiring strategy or looking for a new career opportunity contact one of our Financial Services consultants.​Sources:Before AI met wealth management & the tech challenges we forget about - IFA MagazineFCA: Consumer duty implementation good practice and areas for improvementFTAdviser: How to assess AI’s threats and opportunitiesFTAdviser: Ignoring AI is the biggest threat to adviser survivalFinancial News: What concerns UK financial advisers in 2024GOVUK: The benefits and harms of algorithms: a shared perspective from the four digital regulatorsIFA Magazine: Before AI met wealth management & the tech challenges we forget aboutLloyds Bank: What is inflation and what does it mean for your moneyMcKinsey: Derisking AI: risk management in AI developmentProfessional adviser: Inflation and financial planning – focusing on the bigger pictureRocketFin: Facing the future: the top challenges for financial services companies in 2024Schroders: What are the key challenges facing financial advisers in 2023?

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Meet the Financial Services Experts

Alison MacMillan

Alison MacMillan

Ashlea Walton

Ashlea Walton

Emma Murray

Emma Murray

Jack Johnson

Jack Johnson

Louise Bibb

Louise Bibb

Graeme Hyland

Graeme Hyland

Alex Merrick

Alex Merrick

James Salmon

James Salmon

Graeme Winn

Graeme Winn

David Elders

David Elders

Lynn Wilson

Lynn Wilson

Samantha Durbridge

Samantha Durbridge

  • Alison MacMillan

    Divisional Director

    Mobile: 07423 400 829 | E-mail: alison.macmillan@idexconsulting.com​Ali has been working in Financial Services recruitment in Scotland since 2002 and is a Fellow of the Recruitm...

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  • Ashlea Walton

    Client Director

    Mobile: 07805 843 149 | E-mail: ashlea.walton@idexconsulting.comAshlea is an experienced Employee Benefits recruiter with 10+ years experience recruiting nationally. She specia...

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  • Emma Murray

    Client Delivery Manager

    ​Mobile: 07791 280 859 | E-mail: emma.murray@idexconsulting.com​A spring of energy in the office, Emma is a dedicated and passionate Financial Services specialist. Partnering w...

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  • Jack Johnson

    Business Director & Regional Manager

    ​Mobile: 07795 571 723 | E-mail: jack.johnson@idexconsulting.com​Jack has nine years’ experience recruiting Risk, Actuarial and Compliance professionals in the UK. He has worked...

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  • Louise Bibb

    Regional Manager

    Mobile: 07706 736 747 | E-mail: louise.bibb@idexconsulting.com​Louise has worked within Financial Services recruitment for over 7 years, predominantly focusing within the South...

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  • Graeme Hyland

    Business Manager

    Mobile: 07896 933 622 | E-mail: graeme.hyland@idexconsulting.com​Graeme is one of the longest serving members at IDEX Consulting and is fully responsible for recruitment, talent...

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  • Alex Merrick

    Client Director

    ​Mobile: 07776 670 384 | Email: alex.merrick@idexconsulting.comPrior to moving into Recruitment, Alex was a Financial Adviser for 16 years. He started advising within the Bancas...

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  • James Salmon

    Mergers and Acquisitions Client Director

    Mobile: 07947 748 173 | E-mail: james.salmon@idexconsulting.comJames leads our Financial Services Mergers and Acquisitions proposition; supporting Wealth Management businesses t...

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  • Graeme Winn

    Managing Consultant

    ​Mobile: 07552 208 547 | E-mail: graeme.winn@idexconsulting.comFollowing an initial career in Accountancy, Graeme has worked within the recruitment industry for nearly 10 years....

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  • David Elders

    Managing Consultant

    ​Mobile: 07407 626 734 | E-mail: david.elders@idexconsulting.comDave has over 16 years’ experience recruiting in the Financial Services sector, initially within Retail Banking,...

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  • Lynn Wilson

    Senior Consultant

    Mobile: 07918 211 987| E-mail: lynn.wilson@idexconsulting.comLynn has been working in Financial Services recruitment in Scotland since 1996. She typically recruits for are Para...

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  • Samantha Durbridge

    Senior Consultant

    ​Mobile: 07386 660 100 | E-mail: samantha.durbridge@idexconsulting.comSamantha has been working in recruitment for approximately two years. Her experience mostly consists of sen...

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Check out other experts:
  • Alison MacMillan
  • Ashlea Walton
  • Emma Murray
  • Jack Johnson
  • Louise Bibb
  • Graeme Hyland
  • Alex Merrick
  • James Salmon
  • Graeme Winn
  • David Elders
  • Lynn Wilson
  • Samantha Durbridge