In an interview with Ausbiz, FAAA chief executive Sarah Abood said more quality advisors needed to enter the industry to help Australians become financially secure. said.
“One of the challenges we face is that we don’t have enough financial advisors to go around,” Abood said.
“Essentially, Australians wanted help and we succeeded in creating this system.‘because it is very complicated‘It is almost impossible for everyone to navigate on their own. So I need that help. “
As more Australians reach retirement age each year, Abboud added that action needs to be taken to address the imbalance of advisors available.
“we‘I think there are almost 16 million more Australians of working age, so the need is very strong,‘“It’s growing every year,” she said.
“we‘With fewer than 16,000 financial advisors, they now have to contend with a very strong supply and demand imbalance. Australia needs more good financial advisors.‘This is the association’s top priority. “
Abood said the FAAA is looking to expand the size of its financial advisor pool through conversations with prospective advisors.
“we‘I want to talk to people about how great a career this is.there is‘It is indeed a great demand for people‘service,” she said.
“There‘we are two groups of people‘What I really want to talk about is the typical group of dropouts wondering what degree to pursue next. What kind of career do they want to pursue? And I want to talk to them about how a career in financial planning can be great. What does it take to complete a degree in financial planning and complete a professional career, and what are the opportunities to do so?”
She added that there are also many “changers” who may be looking to a career in financial advice.
“If you talk to financial planners today, many of them pursued another career first. They may have been teachers, economists, accountants or even actuaries,” Abboud said.
“There‘There are many different types of people who have come across financial planning in their lives for various reasons. They may go through financial crises and such to understand what that career does and how important it is.‘I wanted to pursue it.
“So we‘I am really keen to talk to people who have had these other life experiences and who could apply that experience to their careers as financial planners. “