Bournemouth-based IFA Kevin Forbes of Strategic Solutions has partnered with consultants from Simplify Consulting, representatives of Bournemouth University and other IFAs to launch a student placement programme to encourage young people to join the profession.
The “plug and play” initiative Future of Advice is aiming to get 10 students each year placed in advice firms for a 10-month period.
Forbes says the aim is that students and their placement firm will want to make the placement a formal position at the programme’s completion.
Forbes says a gap exists where apprenticeship schemes are not successfully delivering younger advisers into the profession.
He says: “They are regarded as whimsy by politicians and our profession is still dominated by smaller businesses, all running at full capacity, and appetite for change seems low.”
Long term, Forbes says Bournemouth University may also look to the partners for building a financial advice degree. He adds: “That would be a conveyor belt of quality and qualified financial advisers.”