Newly-independent network Sandringham Financial Partners will look to launch a graduate academy program by 2022.
Speaking with Money Marketing, Sandringham chief executive Tim Sargisson says expansions to its current academy would be outlined in a five-year plan to be released in late May or early June.
Sandringham partnered with Redmill Marketing Associates to launch its in-house academy at the start of the year to boost adviser qualifications ahead of its move to the independent market.
The current Sandringham academy hosts in-house advisers, as well as those under its wider network.
Sargisson says: “We saw this firstly as a way of advisers being able to upscale from level 4 to level 6 to chartered status with all the training modules and all the support you need on one site. We have since licensed it from Redmill, branded it as Sandringham Academy, and see it as a place to host professional development.
“We’ve got our own staff going through it, they are taking their exams through it, and we hosting a lot of the support work on there including our marketing training module that our advisers now have to go through because of our move from restricted to whole market advice.”
Sargisson says a graduate program will be designed to give outgoing advisers a stable exit-strategy.
He says: “We will bring graduates into Sandringham and we will train them through the academy to level 4, and then for partners who want to retire, we’ll look at moving the clients across to an in-house adviser, working with the retiring partner to migrate the clients across.”
Sargisson blamed the label of restricted advice as a barrier to attracting advisers when announcing Sandringham’s move to independent status on Tuesday.
He said: “Restricted is still seen as an inferior offering for advisers and clients [but] I see the academy as a way forward for giving advisers an exit and to encourage a new breed of younger adviser into the industry.”