More staff required: Planners
For close to one in four planners having additional staff would be one of the key things their employer could do to retain their services, the Money Management Salary Survey reveals.
The prospect of more staff was second only to a salary increase (43 per cent) in terms of inducements employers could offer to secure their planners' loyalty, with those working for aligned groups more likely to say it was an issue (25 per cent) than their non-aligned peers (19 per cent).
For planners earning in excess of $220,000, securing extra staff was just as important as a pay increase for employers looking to hold onto their services (45 per cent).
When it came to securing a salary increase non-aligned planners were more likely to be hooked by the lure of more cash (47 per cent) compared to 39 per cent of aligned planners.
The survey found that providing more training opportunities was the third best thing employers could do to retain them (16 per cent), while an employee share scheme was the next most popular option for holding onto planners.
Recommended for you
Insignia Financial has issued a statement to the ASX regarding a potential bid from a third global private equity business to acquire the firm.
More than 30 advisers fell off the FAR during the Christmas and New Year period, according to Wealth Data, with half of these coming from licensee giant Entireti.
With next-generation heirs unlikely to retain their family’s financial advisers after receiving an inheritance, Capgemini has explored how firms can work with younger generations to maintain a relationship.
The use of technology and data analytics will be a way for advice firms to grow in 2025, according to Adviser Ratings, with those who are using it successfully reporting 10 per cent higher profit margins.
