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The firms seeing the benefits of adviser academies

Several advice firms and providers have reported progress in their adviser academies this year with growing numbers in the programmes and success with exams.

deVere Group announced the expansion of its graduate programme in February, calling it a bid to plug “the impending financial adviser gap”.

A spokesman from the group says the training of new recruits is on track.

He confirms just over 100 advisers are currently in the expanded training programme. The group said in February that its target for 2018 is 125 advisers.

The group also announced last week it is also set to grow its UK footprint with its subsidiary UK Workplace Solutions getting regulatory approval to acquire WPS Advisory.

At Prudential Financial Planning, strategy and financial planning director Peter Coleman says the firm’s pilot that targets career changers is showing the benefits of recruiting older candidates.

The 12-month intensive in Pru’s Stirling offices is part of the firm’s plans to grow its adviser numbers and service offerings.

Coleman tells Money Marketing the programme’s four trainees have sat their RO2 exams and are preparing to take RO3 papers.

He says: “They have been immersed in the business and are gaining valuable experience dealing with clients’ general enquiries, observing qualified partners and learning about internal processes.”

SJP positive on academy growth

Other academy training programms are also continuing to gain momentum this year, with LEBC Group recently announcing increasing openings in its training intake.

Salford-based legal and financial services firm Frenkel Topping will also launch a new academy to train advisers.

Chief executive Richard Fraser says: “Our newly-established graduate programme proved extremely popular, so now we can develop our own future superstars within the business.”

Newly independent network Sandringham is also set to launch an adviser academy by 2021.

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