Tobias Taylor, Head of Wealth Management at AdviceFirst recently reflected on the importance of diversity for AdviceFirst clients.

When you imagine a Financial Adviser, what do you picture? You’re probably imagining a male of a particular age – which is often how financial advice has been commercially represented. That’s why securing and nurturing a diverse next generation of Financial Advisers is a top priority for our industry as we see our ranks of veteran Financial Advisers naturally decrease.

A knowledge gap is appearing, a gap which we need to fill with the transference of skills and expertise between peers to maintain the high standards for which our vocation is held.

AdviceFirst has been working hard to influence the diversity of our Advisers, to ensure you, our clients can be represented by an Adviser that’s relatable.

  • Between 2016 and 2018 our percentage of Advisers under forty years of age has increased by 13 %.
  • AdviceFirst’s number of female Advisers have grown from 18% three years ago to 31% in 2018, with over 150 years of combined experience between them. 

As a woman working for a number of years within this industry, I understand the value of sharing my knowledge and viewpoints with my colleagues; to consider and rationalise our individual thinking with others is a great source of support, particularly for our up and coming Advisers – Christine Hughes, AdviceFirst Adviser – Wellington

Along with benchmarking ourselves, building up the ranks of younger Advisers whose development is supported and mentored by our more seasoned Financial Advisers, is key to ensuring our clients’ needs for quality advice continues to be met competently and practically for years to come.

It’s vitally important to us that we can represent post-war clients right down to being well positioned to advise younger Generation X and Generation Y investors, who are globally set to inherit assets in the trillions from their baby boomer parents (not to mention their own earnings) – and encourage the securing of those assets with accessible and smart financial advice.

As we evolve with social and cultural expectations, we’re building on the foundations that have been expertly set for us by our predecessors. Every time a new and younger generation grows, they bring with them a fresh approach that reflects their era, goals and preferences while remaining stabilised by the experience that helped raise them up.

I consider AdviceFirst taking the initiative to lead and introduce a wider mix of Advisers to suit an equally diverse range of clients, in age, gender and background, a logical action which can only help increase positive outcomes for our clients Christine Hughes, AdviceFirst Adviser – Wellington

Trust is at the core of our value proposition and principles and that trust is better realised with the option for prudential stewardship, no matter who you are.

Succession planning is for all of us, AdviceFirst included.  Our journey will continue…

AdviceFirst Limited | A disclosure statement is available on request and free of charge

AdviceFirst is a Financial Advice Provider (FSP23242).