Future Talent - Attracting and retaining the advisers of tomorrow

Financial Advisory

05 October 2023

AttractingFinancial AdvisoryHybridRecruitmentRetainingTalentWinning Advisers

Expert: Paul Miles, Founder, Silverback Consultancy Facilitator: Paul Miles


  1. Culture and values are key to good recruitment and retention
  2. Training from within will grow number of advisers
  3. If you limit hybrid working, it limits your ability to recruit


Hybrid working is of concern to businesses, particularly in terms of productivity

Technology should improve productivity but young people are on mobile phone far too much during working hours, which creates mistakes

Include a clause within employment contract to restrict the use of mobile phones

When should business owners not give financial advice – dependent on size

Could product providers offer Adviser training, as they did years ago




  • Make Paraplanner and Team work closely with advisers to safeguard against adviser leaving. Paraplanner is client facing.
  • Need to invest long-term in training new advisers and having the capacity to do so
  • Old advisers expect too much and don’t necessarily fit the time frame of the business
  • Salary levels can affect loyalty
  • Act quickly when you know an adviser is not a match
  • No dealing clause for 6 months
  • Try and provide benefits beyond remuneration


Hybrid Working:

  • Working from home is creating issues but hybrid working is anticipated by candidates
  • Firms are looking to reduce desk space because of hybrid working
  • Smaller firms need people in the office.


Key takeaways:

  • Decide if training within is a more effective way of recruitment, although recruiting and training an adviser is a long-term commitment
  • Make sure clients know the team and not just the adviser in order to create loyalty
  • Recruiting can be achieved from within the M&A market where advisers wish to leave the new owner
  • Trade associations should be able to help with recruitment, i.e via universities