"Diversity in all its forms is an undeniably vital factor in encouraging millennials and Gen Z-ers into the industry"
Richard Fraser, CEO
Frenkel Topping Group has long championed encouraging millennials and younger people into the financial advice industry. Here, CEO Richard Fraser shares his thoughts on how companies can open up the sector to a vibrant new talent pool and become a viable career choice for newer generations...
“Attracting younger people into the financial services industry is of crucial importance for the continued growth of the sector. It’s something which we’ve been passionate about at Frenkel Topping for many years now, and was one of the driving factors behind the creation of our training academy.
“Because of the sensitive nature of our work, we need advisers with a special blend of skills to work with us and understand our clients. We need consultants who have technical ability, interpersonal skills and a high level of emotional intelligence – and often, people who fit that bill can be working in industries completely unrelated to finance.
“That’s why with the training academy and our graduate programme, we look to target younger people of all backgrounds and qualification levels – it’s important that we look beyond the “traditional” talent pool and open the industry up to those who may not have previously considered a job in financial advice or wealth management.
“This approach has meant that we’ve been able to take on employees, develop their skillsets and open their eyes to a career in the field. One of our youngest consultants is a perfect example of how this can work in practice. He joined Frenkel Topping as an administrative assistant who had no prior office experience, and through our training academy, we’ve moulded him into a fully-fledged adviser who manages his own clients and plays a key part in the delivery of our expert witness reports.
“Prioritising this accessibility is crucial for enticing younger generations into our industry. There has long been a perception – perhaps warranted – that the Financial Services industry is “stuffy” and out of reach for anyone who isn’t a Russell Group-educated mathematician. We’re determined to change that view, and to make young people understand that it’s a vibrant, diverse and interesting sector.
“Diversity in all its forms is an undeniably vital factor in encouraging millennials and Gen Z-ers into the industry. These are socially-conscious generations that actively search for companies which align with their values – and that includes employing a workforce which is diverse in ethnicities, genders, cultures, backgrounds, classes and more.”
Frenkel Topping is an independent financial advisor which specialises in protecting the assets of people who have suffered life-changing injuries. It is headquartered in Salford with offices around the UK.