West Midlands-based wealth management company BRI will be piloting an internship with the Chartered Institute for Securities & Investment this summer.
A student in the process of completing his MSc in Investment Analysis from Aston University will be interning with BRI for two months.
James Townsend will be exposed to all departments within BRI and has been tasked with a project aimed at providing him with a well-rounded knowledge of the industry.
Vince Hopkins, BRI’s chief investment officer and head of investment management said “This is a great opportunity to not only partner with Cisi, the professional body, of which BRI is a member, but also offer students the opportunity to work for an independently owned wealth management company, gain an understanding of BRI’s business practices and give James a very solid grounding in the business.
“We have built a successful business by focusing on truly personal service and we hope by experiencing this, it will help James facilitate a full time role within our industry.”
Mr Townsend will be analysing various metrics and business practices in the wealth management sector to understand differing business models between firms at different stages in their growth cycle.
He said: “I am looking forward to my time at BRI and gaining valuable experience from a company that tailors its approach to its clients.
“I hope this placement will enable me to work in wealth management in the future and I believe I have the potential to make a positive contribution during the internship.”
In March Mr Townsend was awarded an Educational Trust award from the Cisi for excellence in his work.
Earlier this year the Personal Finance Society said it was working with 15 employers and the Department for Business, Innovation and Skills to create a government-funded apprenticeship scheme for financial advisers.
According to figures from the FCA the number of financial advisers offering professional advice has fallen from around 26,000 in 2011 to 24,000 in 2014, prompting concerns about an advice gap.
Numbers have continued to fall and as of 10 November 2015, FCA figures showed there were 22,557 financial advisers across the UK.
A group of companies including SimplyBiz, Sesame Bankhall Group, Openwork and Sense have already clubbed together to create a paraplanning apprenticeship which is being funded by the government.