In the people market
Almost 50 per cent of employers in the financial services industry expect to increase permanent staff levels in the next three months, according to new findings, which revealed the highest level of national employer confidence on record across the industries.
This is a 5.8 percentage point increase from last quarter, and is 12.2 percentage points higher than the same quarter last year, according to recruitment firm Hudson.
And the need for financial planners will only grow, according to the findings, which linked forecasted growth levels to service expansion.
The industry is likely to seek out further project management, operational risk and compliance skills in the near future, while retail banks will look to recruit people with broader skills sets.
The business and corporate banking area is looking to grow market share within the current aggressive environment, resulting in high demand for technical and business development skills.
The investment banking sector and funds and wealth management area are both currently booming, while the insurance sector has faced tough conditions with high levels of competition and increasing legislation.
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The positive results of the latest financial adviser exam have helped the advice profession reach 15,600 yet again, according to Wealth Data analysis.
Financial advice firms have told Adviser Ratings they are planning to increase their compliance spend by almost a third, including on enhancements to their cyber security which ASIC has identified as an enforcement priority.
The digital advice platform is officially launching into the financial advice sector, offering up its services to practices as a means of engaging with the next generation of clients.
