A staggering 73% of intermediaries who took part in a recent poll have said they would not encourage their son or daughter to follow them in becoming a financial adviser.
The findings have been unveiled by Marketing Innovation Forum, the free online marketing service for IFAs and mortgage brokers, with 166 people taking part in the survey.
However, posts in the website’s discussion forum displayed more balanced opinions than the figures suggest, with a contributer commenting: “I would certainly be happy for my offspring to pursue this career. I think it's important to see the bigger picture, which is that this is a career that can offer huge prosperity when the economy is in better shape.”
Robert Sinclair, Director of AIFA, AMI and AFB, says: “I’m amazed by this result. I fully understand how difficult it is in the current climate to be a financial adviser but it’s an important role and there will continue to be a great demand for professional financial advice for years to come, making this a very stable career choice. I struggle to understand why anyone would continue to work in our industry if they did not feel they could make a real difference to the customers they work with, and see how valuable their work is.”
Derek McGuire, Director of Marketing Innovation Forum, says: “One of our members suggested this survey question and, to be honest, I didn’t expect this result at all. As one of many to have lost a job through the credit crunch, I sympathise with anyone dubious about job security in our sector, but I firmly believe that those who ride the current wave will come out the stronger for it, long term. I’m sure the result will be very different if we run this survey again, when our market has recovered.”
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