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NMBA: Advisers positive about future

Jessica Nangle

October 25, 2019

Research by the New Model Business Academy (NMBA), the not-for-profit training arm of the SimplyBiz Group, has revealed that advisers feel positive about their future.

NMBA’s latest whitepaper, entitled ‘Insight into the future growth of the financial advice sector’, provided insights into adviser sentiment.

The research revealed that 60% of respondents plan to take further qualifications within the next year, with 32% reportedly having a succession plan in place.

Over a third of advisers (38%) viewed automated advice as an opportunity, whilst three quarters intend to recruit at least one apprentice over the next 12-18 months.

Richard Ardron, joint managing director of NMBA, said: “Everything that the NMBA provides to our members, from our communications and initiatives to our ever-popular series of events, is designed around our core objective, which is to improve the access to, and quality of, advice.

“The whitepaper provides really valuable insight into the future growth of our profession and, with it, how we are collectively addressing the advice gap.

“I was delighted to see that respondents to our survey were so positive and focussed around both the recruitment of apprentices and additional advice and administration staff, as well as about the prospect of undertaking future qualifications.

“When it comes to succession planning and utilising technology to benefit an advice firm and its clients, we can clearly see that this is an area that firms are already thinking about and we will look to provide some high-quality guidance in these areas within the next few months.

“I believe that the future of the sector is very positive for both advisers and clients, and I was delighted to see that the majority of respondents to our whitepaper surveys share the same sentiment.”


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