Removing sales from the curriculum
When it comes to financial advice it seems fair to suggest that academies should really be the models of good practice in this respect and set the standards for the rest of the industry to follow.
Aspiring planners may therefore increasingly seek out academy schemes where remuneration is linked solely to client outcomes, in terms of the quality of advice provided and service standards.
Personally, finding a client-centric service proposition was important to me as it both aligned with my own values and appealed to me professionally, allowing me to focus solely on developing my advisory skills, without having a sales target on my back.
We know our industry needs new blood when it comes to advisers. It is vital because the current academy graduates will play a key role in attracting a new generation of engaged and viable millennial clients.
However, to do this we must speak their language and share their core values, such as ethical and corporate social responsibility. Old-fashioned sales culture will play no part here, so maybe it is time that it was removed from the curriculum?
Matt Gunn is a financial planner at Progeny