From www.professionalplanner.com.au: Australia, the UK, and the US are all facing significant shortages of financial advisers despite a growing demand for financial advice, prompting initiatives to attract more talent into the sector.

Research indicates that Australia has seen a substantial drop in registered advisers from around 28,000 in 2019 to 15,571 currently, with only 90 new entrants this year.

Meanwhile, the UK and US are implementing programs aimed at promoting financial planning careers, but both countries struggle with increasing productivity to meet demand and a lack of university courses promoting financial advice as a career.