Investing in people: How we're shaping future of financial advice

Why talent matters in finance

A more diverse profession helps to reflect the needs of modern society and bridges the generation gap. For example, younger advisers are better able to connect with younger people seeking advice – and the intergenerational wealth transfer means they are certainly going to need it.

Then there’s the longevity of the industry to consider. We all know the stats. Most advisers are in their 50s, according to data from the Financial Conduct Authority. With so many advisers nearing retirement, attracting new and often younger talent is vital to ensuring long-term continuity of client service and firm succession. 

If we agree, then, that attracting new talent into the financial services is a worthwhile pursuit, the question becomes: how can we best do that? 

Engaging future financial advisers 

At recent industry event in Glasgow, ‘New Blood’ was the theme of the day. We were proud to be the lead sponsor. We took the opportunity to speak to plenty of young people who were curious about a career in financial services, whether that be in advice, paraplanning or at financial services providers. Many of them knew very little about what the jobs in the industry entailed at the beginning of the day, but I’d like to think that by the time they left, they were far more clued up and far more interested in a career in our sector. 

Speaking directly to young people is a fantastic way to raise awareness of what we do and educate them on our impact and purpose. Fundamentally, all our people want to feel supported. Through direct feedback we know young people want to know that their workplace will allow them to build a set of skills that will enable them to flourish throughout their career. They want mentors, clear guidance and a clear understanding of where their career could take them. 

Strengthening talent

Supporting those new to the industry, whether they be young people, second-jobbers or re-joiners after a period away, is an ethos we live by at Aberdeen. We value the skills and knowledge all generations can learn from each other. We have a strong new colleague training programme that facilities classroom-based training, real time buddying work, graduation bays and ongoing support and coaching from more senior members of staff like team managers.

In addition, we have ongoing training and product training. Recently, for example, we completed more than 700 hours of training to support the recently launched Aberdeen SIPP to ensure the team have a chance to absorb the information before the launch. 

Taking time away from more senior members of staff to train those new to the sector can often feel like a barrier but this need not be the case.

Having a portal available to staff where they can learn in their spare time is an excellent way to offer continuous resource to those keen to sharpen their skills. Our team has access to ‘My Development’, which holds courses on everything from how to support vulnerable customers to building data models. The team have their own personal development time each month on top of their one-to-one time with their team leader to ensure that they are constantly learning. 

Building a culture of growth

Offering new joiners continuous support is one thing, but offering them the chance to prove it with a professional qualification is even better. We work with Limelight Careers to offer the team the chance to obtain Scottish Vocational Qualifications once they have been with us for over 6 months. In 2025 we’ve supported 28 colleagues through their SVQ journey, with a further nine due to begin in the coming months.

We’ve also provided financial support to 34 colleagues undertaking professional qualifications. The majority of these relate to courses offered by the Chartered Insurance Institute, though we’ve also supported colleagues pursuing qualifications through the Institute of Risk Management and the Chartered Institute of Personnel and Development.

To help colleagues going through the process, we give them supporting course material and initial exams, along with study leave and leave for exam days. 

Then there’s our career progression model, Pathways. The model is made up of four levels that centre around both performance metrics and knowledge building. Pathways reviews are held twice a year in April and October.

Last year 44 colleagues progressed from Customer Service Adviser roles to other positions, and this year 29 have made similar moves to date. 

Nurturing new talent is vitally important if our industry is to continue to go from strength to strength. We’re proud of our record on creating space for development and would encourage other firms to share what they’re doing to attract our next generation of industry professionals and experts.

By continuing to invest in people at the very start of their journey, we ensure that we remain a vibrant, relevant and appealing sector to future generations.