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Healthy job market for advisers, recruiter says

Financial advisers are expected to be in increasingly high demand over the coming years as established firms struggle to cope with growing consumer demand for advice, one recruitment firm that deals with the financial services sector says.

Thursday, April 28th 2016, 6:00AM

by Susan Edmunds

Randstad has released new research that found more than a quarter of New Zealand employees wanted to work for banks and financial sector companies.

They cited career progression, salary and employee benefits as key reasons.

Kiwibank was the standout employer within the category, voted the most attractive organisation by respondents.

Blair Cashin, national manager of Randstad’s accounting, banking and finance division, said there was a need for talent across the financial advice market.

“There is a need for proven talent in most customer-facing roles who have financial markets experience and who are keen to up-skill themselves.”

He said while there had been consolidation over recent years due to the introduction of new regulation and compliance requirements, that had provided opportunity for experienced advisers.

“However we are also seeing a broad trend of companies investing in up-and-coming talent who might be from a lending background or a relationship management background, but who have the core skillset that they are looking for, customer facing skills, relationship management skills, and then providing these candidates with a clear career pathway to retain them."

He said there was growing demand from consumers for financial advice and that was a trend that was likely to continue.

Low interest rates made advice more important, he said.

“A company with a good track record in investing and performance is becoming more attractive to customers and therefore develops a need for advisers to facilitate those transactions,” Cashin said.

Tags: financial advisers recruitment

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