Unemployed graduates to train as IFAs

clock

The Financial Skills Partnership (FSP) is to launch a plan to train 150 unemployed graduates as financial advisers.

Entrants on the course, which begins next month in six cities across the UK, will receive ten weeks of training for investment advice exams, before a six-month paid placement at an advice firm.

Liz Field, chief executive of the FSP, said a lack of work experience was often a barrier to entering financial services.

"We have managed to pull together large employers who are providing the training material and the training," she told the FT.

"Everyone we've spoken to sees this as important for their own success, but also as a means of helping young people. There is a large number of unemployed graduates, and everything shows they need some experience. They'll gain valuable work experience."

The programme will also benefit IFA firms, she said: "A high percentage of our sector are SMEs. Clearly, in the current economic climate, they always find it difficult to find money to develop and grow. They need to bring new blood into the sector."

A number of advisory firms, including St James's Place (SJP) and Sesame Bankhall, also run graduate training programmes.

Sesame's Financial Adviser School set up a national IFA for its trainees in 2011, with SJP launching its Academy in January of this year.

More on Adviser / Broking

Opportunities for the life insurance industry from Budget proposals

Opportunities for the life insurance industry from Budget proposals

Protection driven by IHT changes

Paula Steele
clock 22 November 2024 • 4 min read
Claims and Underwriting: Securing cover with liver disease

Claims and Underwriting: Securing cover with liver disease

“It was racing against the clock”

Jaskeet Briah
clock 21 November 2024 • 6 min read
Two senior hires for SBG

Two senior hires for SBG

Catherine Darroue and Rebecca Luter join

Cameron Roberts
clock 20 November 2024 • 1 min read

Highlights

COVER Survey: Advisers damning of protection insurer service levels

COVER Survey: Advisers damning of protection insurer service levels

"It takes longer than ever to get underwriting terms"

John Brazier
clock 12 October 2023 • 5 min read
Online reviews trump price for young people selecting life and health cover

Online reviews trump price for young people selecting life and health cover

According to latest ReMark report

John Brazier
clock 11 October 2023 • 2 min read
ABI members with staff neurodiversity policy nearly doubles

ABI members with staff neurodiversity policy nearly doubles

Women within executive teams have grown to 32%

Jaskeet Briah
clock 10 October 2023 • 3 min read