Advice gap: 15,000 advisers set to retire in next five years

Concerns about attracting new talent

Octopus Investments has said the UK advice gap is set to widen after its research found almost a third (28%) of advisers expect to retire within the next five years.

The firm's study, which surveyed 205 advisers, also found that, over the course of the next ten years, six-in-ten (58%) advisers expect to retire. According to the investment firm, that proportion is the equivalent of more than 15,000 advisers leaving the profession. Octopus Investments also found advisers are already worried about engaging talent: just under half (44%) of those surveyed said they had concerns about attracting new advisers to their firm. What is more, two thirds (69%) of advisers also reported they did not have a single adviser employed at their firm under the age of 30....