HFS Consulting data revealed at the Lifespan Financial Conference last week indicated that just 23 new advisers had joined the industry so far in 2021, while just 11 had joined in 2020 and seven in 2019.
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Adviser numbers tipped to sink below 10k
New entrants to the advice sector have all but ceased since the implementation of the FASEA standards, meaning those who remain in the industry will need to position themselves for a glut of orphaned clients when the final compliance deadline hits, a non-aligned dealer group has said.
