Wealth management company Brewin Dolphin has launched a financial planning apprenticeship.
The scheme is government-backed, and currently run out of 'financial planning academy' hubs in the company’s Birmingham, London and Manchester offices.
Courses run for two years, during which time apprentices will work towards securing the CII Diploma in Regulated Financial Planning.
According to Brewin Dolphin the apprenticeship scheme offers a “genuine alternative to the more traditional university route.”
To date 12 apprentices have been recruited from outside the firm, with a further four joining as existing employees.
One new apprentice, Paige Cooper, said: “The chance to perform a challenging financial planning role, develop academically through the qualifications offered, and to then help clients manage their wealth, is exactly what I wanted to do. I’m already working hard towards my first exams in September.”
David Nicol, CEO of Brewin Dolphin, said: “The Brewin Dolphin financial planning apprenticeship scheme is an important step to organically growing our business over the long-term.
"A new generation of home-grown advisers will talk the same language as a new generation of clients.”
Scott Gallacher, director at advice firm Rowley Turton, said more apprenticeships are very much needed to tackle a shortage of IFAs.
"Over the short term many firms can cope, but in the long run a lack of advisers will cause problems when it comes to looking after client needs to the level they are accustomed and expect.
“There is also the issue of succession. Without new, bright and motivated advisers entering the chain, there’s a risk of clients getting orphaned because their contact has left the profession.”