More about Financial Advisors
In a highly turbulent economic climate, things are liable to change quickly. Events in the wider society can have major impacts on the financial health of both businesses and individuals, as we have seen in recent years: rising prices and inflation have had significant repercussions for many, and this has had an impact on the financial advisor job description.
It has always been the job of Financial Advisors and IFAs to assist with steering their clients in the best possible direction and helping to guide their decisions but, as the market becomes increasingly volatile, so too do the responsibilities and needs of the consumer for their advisor. It is therefore more crucial than ever for advisors to remain adaptable.
Recent trends in the Advisory market…
Economic and Societal Considerations
The political and economic outlook within the UK has been turbulent, to say the least. Inflation, rising costs, the state of the housing market, and geopolitical tensions all have a significant impact on the role of advisors. Consumers and clients must consider the impact on their finances, and advisors need to ensure they are guiding them on the best possible course of action.
Social consciousness takes the lead
Research has found that sustainable investing is here to stay. ESG is a key driver, and individuals are increasingly looking for investments that will prove to be socially and/or environmentally conscious. It’s important for advisors to be conscious of this too, and to ensure they are implementing these values in their own businesses. Doing so could put them a step ahead of their competitors who are failing to move with the times.
The impact of digital
Whilst the personal and bespoke human touch cannot ever be truly replicated, the rise in popularity of ‘roboadvice’ is certainly a trend we have witnessed in the financial advice sphere in recent months, mainly due to its lower cost. Equally, advisors are leaning on digital for other aspects of their service, as more and more clients expect a digital financial advisory experience.
Looking to find out what the average Financial Advisor Salary in your region would be? Take a look at our Financial Services Salary Survey to access a wealth of market insights and salary bandings for Financial Advisor jobs near you.