The IFA School will open its doors next year with the first phase of the programme looking to attract 15 trainee advisers. The trainees will be given both technical and practical skills training, and receive virtual and face-to-face learning support.
Ivan Martin, Sesame Bankhall group’s executive chairman, said: “Most large companies have scrapped their graduate IT recruitment programmes in the interest of efficiency and cost saving. The result is a lack of young talent and a lack of knowledge of modern day techniques to delivery modern IT solutions.
He added: “We are faced with exactly the same dynamics with an ageing adviser population, the RDR only making things worse, a lack of new talent coming into our industry and yet consumer demand for advice is greater than ever. The IFA School is our attempt – a determined attempt – to help fill the UK’s advice gap.”
The trainees will go through an 18-month programme where they will work in different financial divisions including mortgages, investments and general insurance permissions.
The programme aims for students to be able to undertake basic protection advice cases within six months.
The group has been working with IFA firm The Chester Partnership, in the development of the school.
Steve Riddiough, director of the firm, said: “The Chester Partnership is delighted to be involved in developing the next generation. We, like many other firms, are keen to see The IFA School succeed, as it will provide us with a solution to our long term succession planning.
He added: “The role of a professional financial adviser is becoming ever more demanding and complex, but it remains a fantastic career opportunity for bright and talented people.”
Sesame Banking group is set to deploy over 500 graduates into the IT industry this year.
