An increase in the number of positions advertised by the major banks has suggested a growth in the proportion of bank planners to non-bank planners, according to the latest statsitics from eJobs Recruitment Specialists.
"A large proportion of the major retail banks have been advertising heavily for senior advisers for their various branch locations," eJobs said.
"By comparison there have been very few independent, boutique and dealer group practices looking to increase their adviser numbers."
Although job advertisements had stabilised, they were still down 59 per cent nationally over the three months to 31 July from the previous corresponding period, eJobs said.
Meanwhile, eJobs has also completed a sentiment survey which said the financial planning industry is also expecting a long period of low activity.
"Practices are still looking to survive this downturn, rejig business models and move as many clients to fee-for-service as possible," eJobs principal Trevor Punnett said.
"They are also looking to utilise technology more, outsource more and move to employing more part-time staff."
According to the client survey with 116 respondents, 61 per cent of financial planning practices had not lost any staff but had instead chosen to lower hours or decrease wages.
Thirty-nine per cent had lost staff since November 2008 due to natural attrition or a reduction in days worked. However, a quarter of these had since employed new staff in similar or different roles.
While 44 per cent of respondents believed a turning point in profitability had been reached, many felt this was the start of a slow journey back to higher profitability levels, Punnett said.
