Salaries on the rise for financial advisors due to shortfall in skills
Joanne Keane, the CEO of LIA, an organisation for the education and development of finance professionals, says that industry surveys point to the likelihood of future shortfalls in skilled and experienced financial experts across a range of disciplines.
One clear implication of this is that those with the requisite skills, already keenly sought after, will be in even greater demand in the coming years. As a result, salaries for these skilled individuals will also very likely be on the rise.
LIA is the association for the education and development of financial professionals (advisors and planners) across Ireland. Basically, LIA equips its members with the qualifications, knowledge, and ongoing development to 'excel in a changing financial landscape' — offering accredited qualifications that enhance knowledge, competency, and career progression.
In this Q&A interview, Joanne Keane outlines some of the main trends within the financial planning and advice sectors. She also explains why embedding financial literacy from schools and onwards, and why giving consumers a greater understanding of financial matters would be hugely beneficial to the Irish economy.
What are the current career trends in financial planning in Ireland?
The financial planning profession continues to experience sustained demand, with firms across Ireland seeking qualified advisers who can provide holistic, client-centred guidance. Roles in retirement planning, protection, and long-term investment advice are particularly in demand as we know there is going to be a shortfall of suitably qualified individuals in the coming years.
Increasingly, employers are placing a premium on advisers who combine technical qualifications with strong interpersonal skills such as client communication, empathy, and behavioural coaching. With a talent shortage in key areas, companies face competition to recruit and retain skilled professionals. This has led to higher pay packages, especially for advisers who invest in continuous upskilling.
Starting salaries for qualified professionals typically range from €50,000 to €60,000, with senior roles in certain specialist practices reaching up to €250,000 per annum.
How is the financial advice profession evolving, and what qualifications do advisers need today?
The profession is becoming increasingly specialised and advice-driven. In a world saturated with financial products and online noise, it's harder than ever for consumers to make informed choices without expert support. Financial advice is built on trust, and advisers today are expected to combine deep technical expertise with strong communication skills. Their role is not only to guide clients through complex financial decisions, especially in volatile conditions, but also to help them avoid costly mistakes.
Central Bank of Ireland-approved qualifications like the QFA remain essential, but advisers are increasingly pursuing specialist credentials in areas such as pensions, investment management, risk management, and behavioural finance. Many QFAs are now enhancing their knowledge and skills through our Level 9 Postgraduate Diploma in Financial Planning, leading to the globally recognised Certified Financial Planner designation.
Flexible learning models such as micro credentials and stackable short courses are also growing in popularity, allowing advisers to tailor their development to meet the needs of their clients. Continuous learning is no longer optional; it's becoming a core part of staying relevant in a fast-evolving, advice-driven landscape.
What are the biggest financial literacy challenges facing Irish consumers, and what can be done to support better education?
The latest LIA research highlights some stark realities: nearly half of adults in Ireland say they are unprepared for their financial future, and over 80% report that financial stress affects their mental health. Pension coverage among younger adults and middle-income earners remains low, and many struggle with basic budgeting and long-term planning.
To address this, we need to embed financial literacy earlier, starting in schools, and expand access to simple, practical, and relatable resources. LIA is playing its part through programmes like Smart Money Habits, which deliver financial wellbeing training through sports partnerships with the GPA, Rugby Players Ireland, Sport Ireland and others. We believe in meeting people where they are and tailoring education to their life stage and priorities.
What impact are economic changes (e.g. inflation, interest rates, or budget decisions) having on consumer attitudes toward financial planning?
We've seen a shift in consumer attitudes over the past 12–18 months. The impact of inflation and recent economic volatility has heightened awareness of the need for financial planning but also made it harder for many to take action. Despite some easing in interest rates, the rising cost of living continues to put pressure on households, and many people still feel they can't afford to save or invest.
Our research shows that many people are worried, but they don't always know where to start. That's where trusted financial advisers can play a transformational role—bringing clarity, offering reassurance, and helping people take small steps that build confidence. Our goal is to continue to highlight the importance of seeking financial advice, with the aim of increasing the number of consumers engaging in the process, resulting in better financial and mental outcomes for them and their loved ones and closing the gap in financial literacy and planning across the population.
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