More than eight out of 10 financial advisers would recommend their profession to a friend who had been made redundant due to Covid-19.
A PFS and Chartered Insurance Institute (CII) social media poll, conducted in December, showed 178 out of 207 members surveyed identified financial services as “viable” and a sector they recommend retraining to enter.
The Financial Conduct Authority requires financial advice professionals to be qualified to advise to at least Level 4, which is the equivalent of a certificate of higher education.
To achieve the Diploma in Regulated Financial Planning cost approximately £1,600 in 2020.
Ofqual has calculated it takes approximately 370 hours typically for a student to complete the CII’s Diploma in Regulated Financial Planning qualification.
Keith Richards, CEO of the PFS, said: “Bringing fresh talent into the profession is a key element for securing the financial fortitude of the UK. We sit at the precipice of the largest intergenerational wealth transfer since records began and the events of 2020 have shown how important it is to have insurance in place to act as a safety net when things go wrong.
“It is vital we bring a new wave of talented financial advisers into the profession, not just because it benefits them but because it benefits all of society.”
To take part in the Aspire apprenticeship programme visit: www.cii-aspireapprenticeships.co.uk
To find out more, purchase study texts and get information on the exam sittings needed to qualify as a financial adviser or mortgage broker, visit: www.bit.ly/36k3d6s
