• FINANCIAL SERVICES

  • INTRODUCTION

    We surveyed hundreds of employers across wealth management, pensions and actuarial and employee benefits on recruitment challenges, in-demand roles, renumeration structures and hiring intentions. Our findings and market insight is below, alongside expert commentary from our specialist recruiters.

  • EMPLOYER KEY FINDINGS

    86%

    of employers are planning to hire in the next 12 months

    74%

    of employers don’t think they have the talent needed to achieve business objectives

    48%

    of employers think their biggest recruitment challenge will be the shortage of suitable applicants

    34%

    of employers said their most in-demand roles are Paraplanners and XXXXX

  • EMPLOYEE KEY FINDINGS

    49%

    of employees plan to change jobs in the next year

    34%

    of employees are dissatisfied with their job

    70%

    of employees say their salary has increased by 2.5-10% or more

    30%

    of employees say their salary has stayed the same or decreased

  • FINANCIAL SERVICES TALENT TRENDS

    Access commentary on the Financial Services employment market, written by our Financial Services Divisional Director. Points include hiring trends, in demand roles and skills, and what businesses need to prepare for in 2026.

  • 2026 RECRUITMENT CHALLENGES

    Our survey reveals that 48% of employers across financial services cite a shortage of suitable applicants as their primary 2026 recruitment challenge, followed by unrealistic salary expectations and counter-offers. Attracting highly skilled professionals across the wealth management, pensions and actuarial and employee benefits sectors remains a challenge for employers.

    Research shows that the wealth management sector faces a projected shortage of approximately 100,000 advisors by 2034, with the advisor population expected to decline by 0.2% annually over the next decade (Program Business: Insurance workforce trends). Nearly 50% of wealth management professionals plan to retire by 2029, yet only 6% of advisors are under 30 years old, creating a severe generational gap.

    Across the pensions and actuarial sector, remote and hybrid working continues to be a priority for professionals, as over 70% of actuaries now express a preference for remote or hybrid roles, making rigid workplace policies a significant barrier to recruitment.

    Counter-offers have intensified competition for talent, around a third of employers stated that counter-offers remain a top recruitment challenge for them. Research across a number of sources indicate that 80% of candidates who accept counter-offers from their current employer leave within 6 months, and often 90% depart within 12 months.

    In a high-demand, high-cost sector like financial services, counter-offers of 10-20% are becoming increasingly common, reflecting an employer’s desperation to retain skilled professionals. However, this creates a vicious cycle where people accepting inflated counter-offers often price themselves out of future market moves.

  • IN-DEMAND ROLES

    The majority of financial services employers who responded to our survey, highlighted Paraplanners and Financial Advisors as essential roles to fill over the next 12 months.

    This demand is driven by increasing regulatory pressures and a shortage of experienced talent, given the retirement and succession crisis. 72% of financial advisors in a survey conducted by the Dynamic Planner, UK-based digital financial planning and advice platform, cite the Consumer Duty as the being the main reason for heavy workloads and an increase in business costs, which is driving the need for Paraplanners.

    Despite challenging economic head winds, demand for strategic financial advice remains high. According to Dynamic Planner’s research 86% of advisers surveyed stated they expect to significantly expand their client base which will necessitate additional client facing advisors and administrative support to process the work.

  • JOB SATISFACTION

    Our survey reveals troubling job satisfaction levels across the wealth management, pensions, actuarial and employee benefits sectors, with 34% of employees dissatisfied and 49% planning to change jobs within the next year. This discontent reflects broader UK industry challenges, with research capturing heavy work loads, stress and burn out as key reasons for dissatisfaction.

    Interestingly 82% of young finance professionals in the UK say their job has negatively impacted their life (Atwork: Combatting turnover in the Financial Services industry) and the turnover rate across the industry is reported to be around 19.8%, higher than other industries across professional services (Reward Gateway: What’s behind industry employee rates?) .

    This market dissatisfaction presents a number of opportunities for professionals with specialised skillsets, including the opportunity to negotiate enhanced compensation packages, flexible working arrangements and progressive career options.

    Are you satisfied with your job?

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