Here at BTS, we often speak with many individuals about the different roles available in financial services. Becoming a financial adviser really is a fantastic career choice, and one which enables you to make a real impact on your client’s lives.
In this article, our Featured Company, St. James’s Place Academy, shares seven compelling reasons to consider a career as a financial adviser.
The importance and value of financial advice is undeniable, especially in today’s dynamic wealth landscape.
As life expectancy in the UK continues to rise, financial and tax affairs become more complex, and the savings gap widens, individuals and businesses are facing increasingly intricate and significant financial decisions that can greatly impact their futures. As a result, the need for financial advice is growing.
Amidst this evolving, and uncertain environment, financial advisers play a crucial role in providing expertise and guidance to help clients navigate these challenges and achieve their financial goals.
Curious to find out more about the role and responsibilities of a financial adviser? Join us as we explore seven reasons to consider a career in financial advice.
There’s no better time than now to train as a financial adviser.
In the UK, there are currently over 28,000 financial advisers, many of whom are nearing retirement with an average age of 58, paving the way for new professionals to enter the industry*.
Moreover, the ‘mass affluent’ demographic in the UK – individuals with investable assets ranging from £50,000 to £5 million who are estimated to control around 67% of UK investable wealth – is expected to grow to 14.3 million by the end of 2026*.
This surge in wealth means that the demand for financial advice is now stronger than ever before, as individuals look to manage their growing assets more effectively.
Many sectors and industries are embracing technological transformation, with generative AI increasingly replacing roles traditionally held by employees. However, this is not the case for financial advisers.
While digital solutions certainly offer businesses and advisers several advantages, such as improved operational efficiencies and compliance, the essence of a financial adviser – personal, face-to-face advice – remains highly valued and sought after.
This human and emotional connection is irreplaceable.
Established in 2012, the St. James’s Place Financial Adviser Academy is an award-winning, fully funded career change programme that provides you with the qualifications, technical knowledge, and practical experience you need to start your career in financial advice.
As the UK’s largest financial adviser training programme, we’ve trained over 1300 individuals, with more than 450 successfully establishing their own financial advice businesses.
Whether you’re new to financial advice, or already hold the Level 4 Diploma in Financial Advice, our 12–24-month programme has you starting to advise clients in as little as 9 weeks.
Whether you want to start your own business or join one of our existing practices, we will help you decide the best route based on your career aspirations.
You have the opportunity to build a St. James’s Place Partner business that reflects your values and approach, giving you complete ownership and potential to develop a valuable asset that you can sell in the future.
Alternatively, you can join one of our 2,500 existing partner practices where you can thrive as a new adviser within a supportive and professional environment.
As a financial adviser, you can have a high earning potential, which can vary depending on your level of experience and the specific needs of your clients.
In 2020, the average earnings for an established financial adviser ranged from £95,000-£116,000 – there’s no limit on what you can achieve.*
Moreover, as a business owner, you have the opportunity to build significant capital value, meaning you can control how much you earn.
When you’re ready to exit or retire, you also have the option to sell your client base to the St. James’s Place Partnership with the full support and mentorship of experienced professionals.
Training as a financial adviser offers more than just a secure and financially rewarding career. It gives you great sense of purpose and fulfilment as you make a meaningful impact on the lives of others.
As an adviser, you help people and businesses take control of their financial wellbeing and achieve their goals. You build long-lasting relationships with clients based on trust, guiding them through important financial decisions with empathy and expertise to secure their financial future – for themselves and their families.
Discover how expert financial advice impacts the lives of real people and their loved ones: Empowering financial freedom (youtube.com)
Did you know that one in four (24%) of UK workers are dissatisfied with their career, and a third (33%) looking to switch within the next 12 months? Recent research from Indeed, the world’s largest job site, highlights that the main drivers for career dissatisfaction are a lack of flexibility and autonomy.
In a study of 4,000 UK workers, more than half (56%) are looking for a career that offers a healthier work/life balance, and half (50%) are seeking more flexible hours.* A career as a financial adviser provides greater work-life balance by giving you the freedom to set your own working hours and choose your client base.
This flexibility allows you to tailor your work schedule to better align with the things that matter most to you.
Read more about our research into the UK career change market: One in four UK workers dissatisfied with their career: A third look to switch in the next year | St. James’s Place
Hear the stories of those who switched careers to become financial advisers and discover how they found greater satisfaction and success: Changing Careers – YouTube
A career as a financial adviser is much more than just a job – it’s a fulfilling vocation and lifestyle that enriches both your life and those you help.
It’s not just about money talk and analysing spreadsheets, it’s about understanding clients’ unique needs, building relationships, and crafting bespoke financial plans to secure their financial futures and offer peace of mind during difficult times.
By seizing marketplace opportunities, fostering client trust, and enjoying attractive job benefits, you can find fulfilment and success in this profession.
If anybody has any questions around the St. James’s Place Financial Adviser Academy, head over to their profile on the BTS Careers Zone to find out more information including some ‘day in the life’ of stories from advisers who’ve been through the application process.
If you’re still not sure whether it’s the right option for you, get in touch with us here at BTS, we’re always happy to chat.
Sources:
*Professional Adviser
*GlobalData
*BWD
*Collaboration between Indeed and St. James’s Place
Find out more about the opportunities with St. James’s Place Financial Adviser Academy, check out their Featured Company Profile page.
You can also connect with SJP by editing your profile and updating your connect with featured companies preferences to start a conversation.
You can find out more on how to apply to join the St. James’s Place Financial Adviser Academy and get in touch to find out more information about the programme.
Read the following article from SJP, to find out more information on changing careers within the Academy:
