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Advisers back PFS apprenticeship scheme

Advisers have overwhelmingly come out in favour of the proposed Personal Finance Society apprenticeship scheme.

Most (97.1%) saw a specialist apprenticeship for financial advisers as a good idea and three quarters (75.4%) were interested in using the scheme.

The PFS will fund the apprenticeship programme, which will guide trainees on gaining the necessary qualifications.

Keith Richards, chief executive of the PFS, said: “There is an appetite from within the sector to access the talent pool, and when considered together with the potential for streamlined advice and the extended guidance processes, the financial adviser apprentice initiative offers a positive step forward for many businesses, especially for those dealing with less complex savings and investment needs.

“It’s not uncommon or an apprentice to come in and train up to be qualified mortgage professionals and either stay within that specialism or become investment advisers.”

The scheme, which is set for launch in mid to late summer, is still subject subject to government approval.

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