- 17% of financial advisers believe hiring younger colleagues would help them to attract new clients, but research shows the opportunity may be bigger than they realise.
- In the past 12 months, advisers aged 45 and under generated the largest proportion of their personal revenue from new clients (22%), compared to all other age groups.
- Adviser under 45 are more than twice as likely to be working with new clients that have simpler needs – an opportunity as regulators seek to broaden access to advice.
Featuring the views of over 200 financial advice professionals, NextWealth and Aegon’s latest research guide, Organic Growth for Financial Advice Firms, has revealed a number of interesting insights into how personnel development could lead to growth opportunities for advice businesses.1
When asked to pick the factors they believed would be most helpful when trying to attract new clients, only 17% of advisers said the hiring of younger advisers, making it the 8th most popular choice. However, further results indicate that the value of backing younger advisers may be greater than they realise.
In the past 12 months, advisers aged under 45 generated the largest proportion of their personal revenue from new clients (22%). Advisers aged 45-54 saw 17% of their revenue come from new clients, while it was 14% for those aged 55-64, and 16% for advisers aged 65 and over.
Advisers aged under 45 are also more than twice as likely to be working with new clients that have simpler needs than the next closest age group (33%, compared to 15% of advisers aged 55-64).
NextWealth and Aegon’s new guide explores these results in more detail, highlighting the role younger advisers could play in growing advice firms. You can read the full guide here.
Heather Hopkins, Managing Director at NextWealth, comments on the value of hiring younger advisers for forward-thinking advice firms:
“Growth is a team sport, and having a range of different views, skillsets and ideas can only be a good thing for advice firms looking to lay the groundwork for achieving long-term strategic value.
“The firms building enduring value are doing several things in concert, including developing talent at every career stage. Hiring younger advisers can support that strategy when coupled with new ways of working that lift the whole team.
“Our research also shows that younger advisers draw in clients from a wider range of circumstances and sources. By pairing this new energy with the experience already in the industry, firms that invest in younger talent now could be in a favourable position to build the next few decades of trusted relationships.”
- Organic Growth for Financial Firms. Data source, NextWealth, published July 2025.
Methodology
Unless otherwise specified, the data presented here was collected by NextWealth in March 2025, using an online survey of 200 financial advice professionals from across the UK, and in-depth interviews with 11 financial advice firms. The interviewed firms were selected independently to represent a range of business sizes, in terms of AUM and number of advisers, and business models. For more information, you can contact enquiries@nextwealth.co.uk
About Aegon
In the UK, Aegon offers pension and investment solutions to over 3.5 million customers, supported by over 3,000 employees. Figures are correct as of 31/12/2024. Learn more at aegon.co.uk/about-us
Aegon UK is part of the wider Aegon Group, an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection and retirement solutions. Aegon’s portfolio of businesses includes fully-owned businesses in the United States and United Kingdom, and a global asset manager. Aegon also creates value by combining its international expertise with strong local partners via insurance joint ventures in Spain & Portugal, China and Brazil, and via asset management partnerships in France and China. In addition, Aegon owns a Bermuda-based life insurer and generates value via a strategic shareholding in a market-leading Dutch insurance and pensions company.
Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com/about
The information in this press release is intended solely for journalists and shouldn’t be relied upon by any other persons to make financial decisions.