The Welsh government has committed to increasing employment within the financial services, legal and accountancy industries by more than 60 per cent over the next eight years.
Speaking to Money Marketing, a Welsh government spokeswoman says it wants to boost the number of people employed in the sectors from 124,000 now to 200,000 by 2021.
She says: “Financial and professional services are key sectors for the Welsh economy with potential for high growth and the intention is to increase employment from the current workforce of 124,000 to 200,000.”
Last week, Money Marketing revealed Cardiff-based adviser Richard Harry has been given almost £200,000 in Welsh government funding to part finance an execution-only proposition called Best Price Financial Services, aimed at those who cannot afford face-to-face advice.
Paladin Financial Services managing director Tim Purdon says: “The Welsh government should be applauded for taking this view. With the RDR there is going to be a lot of opportunities for innovation particularly in the non-advised space. Any funding which can be awarded is only going to help the financial services industry as a whole.”