Financial Advice in the UK
At present and within the UK, there is an advice gap where the demand for regulated advice such as mortgage, protection or financial advice, is outstripping supply, and this is due to:
The current average age of a financial advisor is 50. With retirement looming, opportunities open up for new advisors taking their place.
We now have a longer living population. This means that everyone’s money has to go further and work harder. So the demand for financial advice will only grow, and as the population continues to grow in size and lives longer, the transfer of wealth between generations is on the rise. So the demand for financial advice will always be needed.
How much can you earn as a qualified adviser?
The honest answer to this question is quite simple: the sky is the limit. Depending on how much time and effort you want to dedicate to work. It is important to strike a work / life balance that suits you and your mental and physical health, but in general:
- Employed experienced mortgage and protection advisors earn between £50k to £60k per annum
Employed experienced financial advisors earn between £70k to £100k per annum
Please note that many new entrants into the industry become Employed. If you decided to you run your own financial advice firm after a few years, the figures can be much higher 3x, 4x, 5x, the sky really is the limit.