Axa Australia is recruiting financial planners from the UK and South Africa to offset a shortage of local talent.

An Axa spokesman told insuranceNEWS.com.au the firm is currently hosting overseas trade shows and investing in foreign trade press advertising to attract qualified staff.

The Axa campaign has so far netted 13 advisers.

“The network continues to grow and these advisers are very experienced and have a desire to live in Australia,” the spokesman said. “We’ll continue to assess the need going forward.”

He says the recruits will undergo “extensive training” on local terms and conditions before starting work.

Melbourne recruitment specialist Domenic Saporito says the shortage of planners is beginning to recede as new financial market conditions bite.

“The market has changed,” said Mr Saporito, who is a director of Caden Recruitment. "Up until now it has been very difficult to recruit planners but the world’s turned a little bit. The demand for them has dropped.”