The Hays' January-March 2014 Quarterly Report revealed a "distinct lack" of qualified financial planners in the Australian job market.
Assistant financial planners and paraplanners are also in short supply due to a lack of investment in entry-level staff by financial advice firms, said the report.
"The number of financial planning candidates has decreased due to the new FOFA regulations and the knock-on effect of the grandfather agreement – meaning that planners are unable to move and take their clients with them and companies are unable to buy books of business," said the report.
"This quarter, work flow and hiring will increase in wealth management, but candidates are required to be qualified or have at least 12-18 months industry experience," it said.
Demand is also "steadily increasing" for banking and finance lawyers due to a rise in transactional activity – particularly in specialised areas such as project finance, the Hays report said.
