What Candidates Want vs What Super Funds Want: The Advice & Member Services Talent Challenge

Let's explore where these expectations differ and what organisations can do to close the gap.

First, it is important to understand what is happening in the market.

Advice Has Become a Strategic Function

As more Australians approach retirement, super funds are increasingly focused on helping members navigate complex decisions around retirement income, contribution strategies, insurance and financial wellbeing.

As funds continue to invest in this area, securing and retaining quality talent has become increasingly important, with advice playing a more strategic role in member engagement, retention and retirement outcomes.

Research highlighted by SuperGuide, referencing Aware Super data, showed that members who received financial advice retired with approximately $150,000 more in superannuation than those who did not receive advice.

The Adviser Shortage Is Creating New Challenges

The advice exodus has shifted market dynamics in favour of experienced candidates.

Australia's adviser workforce has declined from approximately 26,500 advisers in 2019 to around 15,300 by mid-2025. As supply continues to tighten, candidates have gained greater bargaining power and access to a broader range of opportunities. In some cases, rising demand has accelerated salary expectations beyond what some organisations can accommodate within existing remuneration frameworks and internal equity considerations.

Many leaders are now asking:

"How do we attract new adviser talent while maintaining fairness and consistency for the people already in our teams?"

"How do we ensure our career structures reflect the growing strategic value of advice?"

It is a balancing act many funds will continue to face as competition for experienced professionals remains strong.

Where the Disconnect Happens

The greatest hiring challenges often arise from differing expectations between candidates and employers.

One Advice Leader recently shared:

"I can teach products, systems and processes. I can't teach genuine care for members."

Another hiring manager explained:

"I look for people who are passionate, genuinely aligned with our objectives, and understand the nature of the role. The strongest performers never act like they're above certain tasks."

A further observation was:

"We need team players. People who want to be part of the team, attend training, contribute on team days and invest in the culture. Not people looking for reasons why they can't."

The strongest hires happen when candidate expectations and employer priorities align, with recruiters playing a key role in bridging this gap and helping both sides find the right fit for long-term success.

Closing The Gap

The Funds Winning Talent Are Thinking Beyond Salary

While remuneration remains important, many organisations are finding that salary alone is rarely the deciding factor.

Successful employers are investing in broader employee value propositions that include:

• Professional development and study support;

• Career progression opportunities;

• Leadership development programs;

• Flexible working arrangements;

• Wellbeing initiatives;

• Reward and recognition programs; and

• Strong employer brands that clearly communicate culture and purpose.

Candidates increasingly want to understand not only the role itself, but also how an organisation invests in its people and supports long-term career growth.

Developing Future Talent Through Professional Year Pathways

Another opportunity for super funds is the development of structured Professional Year (PY) programs.

With adviser numbers continuing to decline, relying solely on hiring experienced advisers from competitors is unlikely to be a sustainable long-term solution.

By investing in PY pathways, funds can:

• Build future adviser pipelines;

• Reduce reliance on an increasingly limited talent pool;

• Create succession opportunities; and

• Strengthen their reputation as employers that invest in long-term careers.

In a market where many organisations are competing for the same experienced professionals, developing future talent may become one of the most effective recruitment strategies available.

Recruitment Process Matters More Than Ever

In a market where strong candidates often have multiple options, recruitment processes themselves can become a competitive advantage.

Lengthy approval processes, multiple interview stages and delayed feedback can result in organisations losing quality candidates to competitors who move more quickly.

Just as importantly, organisations should ensure hiring managers, leaders and senior stakeholders involved in the recruitment process are aligned on the role requirements, KPIs, expectations and overall value proposition. Inconsistent messaging can create confusion for candidates and undermine confidence in the opportunity.

Many candidates view the recruitment experience as an indication of how an organisation operates more broadly. Employers that communicate clearly, provide timely feedback, present a consistent message and make decisions efficiently are often better positioned to secure top talent.

Conclusion

The talent challenge facing superannuation funds is no longer solely about adviser numbers.

Success increasingly depends on how effectively organisations understand, attract, develop and retain people in a highly competitive market.

The funds achieving the strongest hiring outcomes are those that understand both sides of the equation, recognise what candidates value, clearly communicate their expectations, and provide an environment where both can align.

Organisations that invest in a strong employee value proposition, develop future talent and maintain efficient recruitment processes will be best positioned to build sustainable Advice and Member Services teams for the future.

Because in today's market, the organisations winning talent are giving people the strongest reason to join, contribute and stay.

A Question for Superannuation Leaders

Is your employee value proposition as compelling as your competitors'? And is your recruitment process efficient enough to secure top talent before someone else does?

The right recruitment partner can help you understand what top talent is really looking for, position your opportunity effectively and connect you with people who are the right fit for both the role and your culture.

Are you confident your recruitment strategy is giving you the edge?

Let’s discuss - Get in touch!