Finding the next generation of advisers is a struggle, but Kevin Forbes, principal of Strategic Solutions, may have found, well, a solution. He has teamed up with Bournemouth University to launch a scheme to get 10 students per year into 10-month apprenticeship programmes at local advice firms.
The programme is designed to encourage graduates to get into the financial advice profession and financial services more generally. It is being developed by Forbes with help from the regional Personal Finance Society, and six local advice firms are interested in signing up.
Consultancy firm Simplify Consulting has provided the ‘heavy lifting’ and organising of the apprenticeship scheme. Forbes said the idea is to create a ‘plug and play’ placement scheme, which could easily be replicated by other advice firms.
‘We are trying to build a programme for any forward-thinking IFA who is thinking about their succession planning,’ he said. ‘It is a win-win because it is like a 10-month interview from both sides.’
Strategic Solutions will take on one or two graduates itself. ‘Being an IFA is not a sales job anymore. These guys coming out of university at 21 and 22 are bright, young and energetic: exactly what we want.’