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"The Adviser Shortage" – Or How to Fill an Academy Course

Writer's picture: Steve ConleySteve Conley

The financial advice profession is, apparently, in the grips of a dramatic “adviser shortage.” Or so we’re told by Chris Jones, who just happens to run a large financial adviser academy. What a coincidence! While the industry faces its fair share of challenges, the notion of desperate consumers clawing at the doors of adviser offices, begging to be sold a product, seems… well, a tad far-fetched.


Reading Jones’ piece, I was bracing myself for tales of chaos: phone lines jammed with frantic would-be clients, queues snaking down the street outside high street adviser firms. But no, none of that. Instead, we’re presented with a narrative that sounds suspiciously like a recruitment pitch.


The Real Problem


Jones’ argument is that many qualified individuals—those with Level 4 Diplomas—aren’t entering client-facing roles. Instead, they’re choosing jobs as paraplanners, compliance officers, or technical specialists. And why wouldn’t they? These roles offer all the perks of working in the financial sector without the hassle of having to sell something to Mrs. Smith while worrying about a potential regulatory mishap.


The problem isn’t a lack of advisers; it’s a lack of people willing to sell products under the guise of advice. After all, who wouldn’t hesitate to dive headfirst into a profession with mounting regulatory hurdles, sky-high liability, and client trust at an all-time low?


A Convenient Solution


Enter stage left: the academy-run “bridging programme.” Jones paints these initiatives as the saviours of the industry, designed to build confidence, develop soft skills, and transform diploma-holders into client-facing professionals. While this might sound noble, the cynic in me can’t help but notice the convenient alignment with his business model.


These programmes are marketed as the golden ticket to career progression. Yet, are they solving the supposed adviser shortage, or are they just another funnel to attract paying students into the academy system?


The Industry’s Bigger Picture


Let’s be honest: the issue isn’t a shortage of advisers; it’s a surplus of clients who don’t need—or want—what’s being sold. The real gap isn’t in the number of advisers but in their value proposition. Consumers don’t need more product pushers; they need genuine advice that isn’t tied to commissions or sales targets.


Jones briefly touches on AI and its potential to handle the technical side of advice. While technology is indeed reshaping the industry, his assertion that human advisers remain irreplaceable because of their empathy and reassurance misses the point. What’s needed isn’t more humans trained to mimic empathy while nudging clients toward a product—it’s an entirely new model of financial guidance, one that prioritises transparency and the client’s best interests over sales.


Who’s the Real Winner?


At the end of the day, Jones’ article isn’t about solving the adviser shortage. It’s about selling the dream of a thriving career in financial advice—while conveniently glossing over the realities of the profession. It’s a recruitment pitch, plain and simple, dressed up as industry insight.


If there really were a shortage of advisers, wouldn’t we be hearing about firms unable to keep up with demand, consumers left stranded without help, or advisers working around the clock? Instead, we’re left with vague anecdotes and a lot of talk about training programmes.


The moral of the story? Don’t take every “crisis” at face value, especially when the person shouting about it stands to benefit from the solution they’re offering. The next time someone tells you the sky is falling in the world of financial advice, ask yourself: who’s selling the umbrella?


— Steve Conley

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