The Financial Services Training College has launched a fast-track initiative that trains FPC-qualified staff from scratch in three months instead of the average one year.
The FSTC has joined forces with recruitment consultant Hayes Inter-Selection in a bid to train over 600 new FPC qualified staff each year to address the current nationwide shortage estimated to be 30,000.
The new initiative called TeamART – ART stands for adviser recruitment and training – was launched in London this week.
TeamART will recruit the trainees through newspaper advertising and immediately assign them to an IFA firm or life office which will sponsor the training.
Recruits will spend two weeks on full pay at the FSTC and are expected to pass the first two FPC papers in that time.
Following a stint with their new employer they return to the FSTC within three months to complete the third FPC paper.
Training begins at centres across the country on November 30.