The latest industry data released by eJobs Recruitment Solutions indicate jobs for financial planners have increased significantly over the past three months and the last year as well.
The statistics show jobs advertised for positions in the industry rose by 18 per cent over the last three months and 16.8 per cent during the past year.
They show all states experienced the trend in the last year, with demand for financial planners highest in Western Australia where jobs advertised jumped by 42 per cent.
South Australia has also stepped up its urgency to find planners to fill vacant roles with its job advertisements rising by 27 per cent.
In contrast Queensland had the lowest demand for financial advisers, still experiencing a larger number of advertised jobs in the past 12 months but only by a margin of 5.6 per cent, the data showed.
While the statistics showed the demand for planners has grown significantly in recent times, they also indicate the number of practitioners has not expanded in a meaningful way over the last decade.
The eJobs Recruitment Specialists’ data shows the number of planners has increased only by 19.5 per cent over the measured 10 year period.
Further analysis of the facts indicates a flat 2 per cent increase in the number of advisers on a yearly basis during this period.
The employment outlook for financial planners is facing uncertainty amid the regulatory changes currently taking place in the financial services arena, according to eJobs.
“We see a continuation of similar employment levels and increasing supply challenges. Practices will need to become even more efficient, as few will be in a position to employ more staff just to assist with additional administration work. Client relationship-driven advisers will remain ‘gold’, and those with clients and referrals of their own will become even more highly valued,” was the recruitment firm’s assessment.
