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IFAs 'should aim to recruit law graduates'

Published: Thursday, 24 June 2010   Category: Law

Independent financial advisers (IFA) should look towards law graduates if they intend to boost their workforces, Money Marketing reports.

David Seager, development director at Sifa, claimed that about 3,000 of the 8,900 law firms in England and Wales will fold by 2012 due to the increased legal services being offered by major firms such as Tesco.

As a result, he encouraged IFAs to target law graduates as many will struggle to secure a full-time role in their chosen industry due to the fierce level of competition.

"There are a lot of people studying law but there are very few jobs," he told the news provider.

"We always have this debate in financial services about where the new blood will come from. Firms should start looking at law graduates."

Mr Seager also urged IFAs to join forces with law firms and provide them with advice about how to retain clients by altering their business models.

Last week, Tom Davie, director of professional development on the board of the Association for Graduate Careers Advisory Services, claimed that graduates now want more than just a good salary from their first full-time employer.ADNFCR-1068-ID-19856367-ADNFCR

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