For many professionals in financial services, the industry’s unpredictability is a source of constant frustration. Market fluctuations, interest rate changes, and pressures surrounding inflation dictate workloads and, in some cases, income stability.
The recent decision by the Bank of England (BoE) to cut its base interest rate to 4.5% - the third reduction in six months – highlights the challenges facing the UK economy. With growth forecasts downgraded and inflation expected to rise again before falling to target levels, financial professionals are navigating an uncertain terrain (The Times).
But while many roles in the industry are at the mercy of these external factors, there is an alternative: becoming a financial adviser. This career offers long-term stability and the chance to take control of your professional and financial future - while helping others do the same.
The current market reality
The UK economy is grappling with stagnation, and while the BoE’s rate cuts aim to stimulate growth, inflation remains a pressing concern. Forecasts suggest inflation could rise to 3.7% before gradually falling to the 2% target (although this is unlikely to drop until 2027) (The Times) These conditions create ripple effects across financial services, with market volatility making investments and lending unpredictable, inflation outpacing wage growth, and economic shifts creating career uncertainty. As professionals face these challenges, many are seeking more stability – making financial advice an increasingly attractive option.
Why become a financial adviser?
Unlike many roles in finance, financial advisers are not solely at the mercy of market movements. Instead, they focus on long-term client relationships, financial planning, and wealth management that are resilient to short-term economic changes.
Key benefits of the role include autonomy (since advisers can build their own client base and dictate their own workload), income stability, and purpose and impact. The ability to help individuals and businesses navigate financial uncertainty makes the role both fulfilling and future-proof.
Vishal, former mortgage adviser who now runs a financial advice practice at St. James’s Place, highlights the advantage of this career: "Wealth advice gives you the opportunity to build a long-term business that isn’t dictated by market volatility. My business partner and I wanted to recession-proof our firm, and financial advice allows us to do that. Whether in a booming economy or a cost-of-living crisis, people need guidance to create more stable financial futures."
Market demand for advisers is growing
The economic turbulence of recent years has led to a greater need for financial expertise. With interest rates fluctuating and inflation affecting household budgets, individuals are seeking more advice on mortgages, investments, pensions, and long-term financial security.
The UK's 'mass affluent' demographic – those with investable assets between £50,000 and £5 million is projected to rise from 11 million to over 14 million by 2030, leading to an increased demand for financial advice (Academy).
Additionally, the financial advice profession is facing a significant challenge: the demand for trusted financial advice is increasing, yet the number of qualified advisers is not keeping pace. Currently, there are over 28,000 financial advisers in the UK, many of whom are approaching retirement, with the average age of 57. This demographic shift presents a substantial opportunity for new professionals to enter the field (Academy).
How to become a financial adviser
The path to becoming a financial adviser is structured but accessible. The key steps include:
- Gaining qualifications: You need to hold a Level 4 Diploma in Financial Advice to deliver financial advice in the UK. Read more about how you can gain your qualification here.
- Building experience: Many advisers start by working under an established firm before setting up their own wealth management business.
- Developing a client base: Through networking and referrals, financial advisers create long-term relationships that provide stability and growth.
Structure programmes like the St. James’s Place Financial Adviser Academy also provide training for those looking to join the profession, making the most of digital and face-to-face learning techniques designed to help people launch a successful career in financial advice.
Take the next step
If you’re feeling frustrated by the unpredictability of financial markets, now is the time to explore a career in financial advice. With strong demand, a clear career path, and the opportunity for autonomy, this profession offers a way to build a stable future – on your terms.
Interested? Contact us today to start the conversation and discover how our Academy can support your journey into financial advice.