Ken Davy  

Seize the opportunity to invest in the future

Ken Davy

Ken Davy

The recent success of the Lionesses in the World Cup and the arrival of summer sunshine are great catalysts for delivering a sense of unity and wellbeing across the UK. 

This led me to think about the financial services community – what unites us? 

Key for us all to grasp, and take pride in, is that advice is a force for good.  

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Of course, we must cope with overburdensome regulation, but this is, sadly, a necessary evil given the need to protect consumers from the sector’s reckless and criminal minority.  

The reality is that there has probably never been a better time to be an adviser, and there is a desperate need for new blood to meet consumer demand.

It is therefore excellent news that the New Model Business Academy was recently awarded additional financial support from the Education and Skills Funding Agency to expand its outstandingly successful apprenticeship scheme. 

This means NMBA can not only recruit more apprentices to its financial adviser and paraplanner schemes, but also launch a brand new programme for mortgage advisers. 

This is fantastic news for the whole sector as, though part of The SimplyBiz Group, NMBA serves, as it always has, every financial advice firm in the country.

I believe we all have a responsibility to bring the next generation of financial services professionals into reality.  

The numbers working in every area of financial advice have dropped dramatically since regulation was introduced, yet there have never been more opportunities.

To address this shortage, advice firms of every size, along with service companies, providers and networks will all need to rally round and act. 

In addition to apprenticeship schemes and recruitment drives, we also need to promote the profession as the important and attractive career option we know it to be. 

As advisers and, in many cases, business owners, the future of your own firm will be central to your thoughts.  

I would urge you to expand your thinking and seriously consider bringing on board an apprentice or upskilling existing members of your team.  

Just as the success of the Lionesses has inspired women’s football, we need to inspire the next generation of advisers so that the benefits enjoyed by your clients are also available to their children, and their children’s children.

Ken Davy is chairman of SimplyBiz Group