IFA launches apprentice scheme

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Financial advice firm, Anderson Lloyd, has launched its own apprenticeship programme in a bid to fill what, it says, is fast becoming “a massive gap in the industry”.

In March, 18-year-old Jared Kiszczuk became the first of what is hoped will be many apprentices to join the company’s Truro office.

Over the next few years, he will study at both Truro College and in the workplace, with a view to becoming a qualified independent financial adviser (IFA).

Jared Kiszczuk (left) and David Hughes
Jared Kiszczuk (left) and David Hughes

Anderson Lloyd partner, David Hughes, explained: “In the last few years the number of people offering advice in the financial services sector has dropped from 240,000 to 28,000 and the average age has risen to 58.

“One of the fundamental causes of the current problem is that there is no university course that links directly to the industry. Most advisers are self employed and young people fresh out of university and loaded with debt, will want to be employed.

“As the business degree does not satisfy the requirements of the regulator, potential IFAs also face a further two years training before being able to provide and charge for financial advice.

“Our aim is to provide our apprentices with the necessary skills by working closely with our team of advisors and completing relevant courses through Truro College and, if they are found suitable, to help them achieve the professional qualifications required within the time that they would take to obtain a degree.”