LEBC Group has launched an academy for graduates to help reinvigorate the UK advice community.
Candidates will receive training on technical knowledge, compliance, financial planning, pension, investment and protection.
The academy, which will be based in Hull and Reading, will lead to a six-role path starting from entry level client support up to become a chartered financial adviser.
Candidates will be also able to join at the entry level, the experienced client support or trainee paraplanner levels, depending on their experience.
LECB says candidates are expected to pass exams from trainee paraplanner to become a trained paraplanner or adviser in two years.
Managing director of LEBC’s Foundation business, its private and corporate client advice arm, Jeremy MacLeod says: “The financial adviser demographic is older than most other industries and there is a limited number of young people coming through the ranks.
“When you add the ‘advice gap’ concerns, it is clear there’s a major supply and demand issue when it comes to market demand and available skilled individuals. We are looking to tackle this issue by creating a professional training programme in the form of a dedicated academy to attract young talent and train them accordingly.”
Managing director of LEBC’s The Retirement Adviser business, which handles defined benefit work for large corporates, Nick Flynn says: “For many advice businesses it would be difficult to develop a graduate scheme such as ours as there is not the volume of clients within their existing banks that could be supported by the additional adviser resource – simply they will not have enough ‘leads’ for teams of young and enthusiastic graduates to develop.
“Our unique ‘hybrid’ model of traditional IFA and large volume pension transfer adviser means that we can offer a ‘ready made’ client bank to all our newly qualified advisers so they can be kept busy from day one.”