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Only 4% of UK have considered career in financial advice

Only 4% of UK have considered career in financial advice
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Just 4 per cent of workers in the UK have considered a career in financial advice with limited awareness meaning a widening gap in future talent. 

A study of more than 4,000 people by St James’s Place Financial Adviser Academy and hiring platform Indeed found almost a quarter of UK workers are dissatisfied with their jobs, with a third aiming to switch careers in the next year. 

Gee Foottit, partnerships manager at the academy, said: "There are so many career choices out there for the third of us looking to make a switch. However, a lack of awareness about these opportunities, as well as a shortage of self-confidence, seem to be holding us back. So, we’re partnering with Indeed to put a spotlight on under-considered careers that could deliver exactly what people want.

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"Just 4 per cent of us have considered a career in financial advice, for instance, despite the chance to work flexibly, earn comfortably and make a real difference. Limited awareness of our profession means the gap in future talent for our sector is widening, so we need to change that and through the academy we’re playing our part."

The research looked at the 'best careers you've never considered' which also included a senior paraplanner, considered by 9 per cent, and a finance systems analyst, considered by 3 per cent of workers. 

Jack Kennedy, senior economist at Indeed, said: “Every month, millions of people search for jobs through the Indeed UK site, which gives us a fascinating window into what workers are looking for.

"We see a clear desire for better work – work with more opportunity, transparency and greater wellbeing. We distilled these desirable features into some ‘dream career DNA’ and then reviewed our data on the career options that offer these – but which can often be overlooked."

The research found Gen X workers, aged between 44-59, were the most dissatisfied with their current careers, with 27 per cent unhappy in their occupation.

This is closely followed by Millennials, aged 28-43, with 23 per cent saying they are unhappy in their roles.

At the other end of the spectrum, Baby Boomers, the pre-retirement age group of 60-69, were overwhelmingly satisfied with their career, with a resounding 82 per cent saying so. 

And when it came to what would make the ideal career respondents said a work life balance and working from home were important with 68 per cent saying a comfortable salary was key - on average valued at just over £50,000 a year. 

Men's ideal salary was nearly £10,000 more than women's which they set a £54,771 compared with £45,624.

tara.o'connor@ft.com

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