Demand for financial planners has dropped dramatically in the last month despite an overall increase since this time last year, according to recruitment company eJobs Financial Planning.

Figures recently released by the company show that national job numbers for the sector are still rising, up 25% on last year.

But it also shows a rapid decline in demand, which is expected to continue until the end of the year.

In the three months to October 31, numbers dropped by 5.5% and by a further 15.5% in just the last month.

The decline has come too early to be blamed on the traditional summer adjustment, according to eJobs MD Trevor Punnett. He believes it’s the result of current problems faced by the industry.

Mr Punnett told insuranceNEWS.com.au the reasons for the drop in demand for planners range from the lead-up to the Federal election to continued negative client sentiment and the “bashing” of financial planners by industry funds.

Although national figures were down 5.5% for the quarter, he says the largest falls in demand for planners came last month.

Queensland led the decline with 33%, followed closely by SA with 25%, while both Victoria and Tasmania scored a 21.5% drop and NSW and the ACT were the least affected with just a 4.8% fall.

Mr Punnett told insuranceNEWS.com.au that despite the decline in jobs, the salary ratios for the industry remain the same as this time last year.

“I don’t think it has changed that much,” he said.

According to MyCareer, financial planner salaries average more than $81,800, while Seek estimates salaries at between $70,000 and $80,000.