Research led by EY has found young women are entering financial advice at a younger age than previous generations, against a backdrop of education standards and entry requirements to the provision of advice services being brought more in line with accounting.
The research, conducted by EY on behalf of BT’s Stella Network and the Financial Services Council, found that 67 per cent of female advisers aged between 24 and 35 selected advice as a career during or after university.
This contrasts with female advisers aged 50+, 95 per cent of whom did not enter the industry until later in their professional life.
Additionally, the pace of career progression from support to advice roles is faster for women aged 25 to 34 than it was for those aged 35+, the research found.
"The government has recently set a higher bar for entry into financial advice and, in time, it will become a profession like law and accounting," said FSC chief executive Sally Loane.
"These new education standards present an opportunity for the industry to attract a new generation of women and will help create awareness about financial advice as a professional career," she said.
The Financial Adviser Standards and Ethics Authority (FASEA) has proposed several new education standards for financial advisers to meet, which you can read more about via our sister title ifa here.
Head over to Finni for more accounting career advice.
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