BT and Striver tackle advice talent shortage

In collaboration with tech-based human resources platform Striver, BT has announced the launch of a program that addresses the financial advice industry’s talent shortage.

Alongside the more than 20 events catered to graduates and representatives from advice practices across Australia, the program includes a range of activities that focus on the attraction and retention of talent in the advice industry.

To date, 85 first-round job interviews for new entrants have been secured on the back of two virtual speed networking events held in Sydney and Brisbane.

Speaking on the need for these specific services, BT chief executive officer Matt Rady said advisers have expressed that attracting and developing the next generation of advisers is one of the key challenges they face.

“Providing specialist coaching and training opens up pathways to financial planning careers, which graduates may not have otherwise considered. We need more people to pursue the noble profession of financial advice, so that more Australians can access the advice they need to achieve their goals and build a better financial future,” Mr Rady explained.

According to BT, graduates and current advice professionals alike will be able to participate in mentoring programs and practical online training, with the wealth manager said to be raising awareness on career pathways in advice by showcasing experienced advisers through podcasts and social media channels.

Moreover, BT said it is looking to further support advisers by addressing key business challenges such as keeping informed on regulatory developments and compliance obligations, and meeting continuing education requirements.

Throughout the 2023 continuing professional development (CPD) season, BT’s technical services team has delivered 45 events, equating to 15 CPD points, and has reached over 3,000 advisers so far. In the six months to March 2023, BT has also either organised, sponsored or participated in 125 adviser-focused events and similar activities.

Speaking on the collaboration, Alisdair Barr, CEO and founder of Striver, added: “We are really proud to have opened up the potential for a rewarding career in financial advice to more than 20,000 candidates.”

“We look forward to working with BT in the year ahead, with an exciting line-up of targeted activities that bring together quality candidates and advice practices that are seeking to grow and strengthen their business.”

Striver, which focuses on helping guide graduates and those who are in the early stages of their careers, has connected new entrants to nearly 1,000 successful placements across wealth management and advice industries since launching in 2013.

“We see our collaboration with Striver, who specialise in the advice industry, as a natural extension of our ongoing support for advisers, to help them thrive,” Mr Rady said in support of the partnership.

“We want to help attract a new generation of advice professionals and showcase the value of advice and the difference it can make in Australians’ lives,” Mr Rady concluded.