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Threefold departures challenge profession’s stability

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9 February 2024 by Maja Garaca Djurdjevic, Independent Financial Adviser

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The latest quarterly Adviser Ratings’ Musical Chairs Report has painted a sombre picture of the profession’s ability to recoup its numbers, revealing that while a few dozen advisers entered the profession in the last three months, departures surpassed the new entrants figure by more than three times.

Namely, 264 exits were recorded in the period between October and December, suggesting that correcting the balance could be an “ongoing challenge” for the profession, even in the presence of new advice models.

According to Adviser Ratings, switching activity remained “fairly light” across the quarter, with most of the movement occurring at the individual levels, with advisers finding new homes that align with their objectives.


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