Openwork has launched a programme aimed at encouraging people with no significant financial services experience to enter pensions and investment advice as a second career.
The Academy Fast Track initiative gives Openwork member firms the opportunity to bring a carefully selected individual into their business and develop them into a fully qualified adviser through an intensive but structured programme.
The training involves courses, study days, CII exams, development workshops, knowledge and skills training alongside practical experience gained by working at sponsor firms.
Mike Morrow, wealth and platform director at Openwork, said: "Openwork is committed to expanding the capacity of our member firms and making sure they are better able to service the significant unmet need for financial advice.
"The Academy Fast Track will provide participating member firms with conscientious, newly qualified advisers with outside experience, whilst offering the selected candidates excellent career prospects in the financial advice industry."
There are 10 candidates in the first training intake, including a mother of three returning to work having previously been in sales, a former England youth rugby player and a qualified chef.
Once candidates have completed the programme they will possess a recognised industry qualification.
It is anticipated candidates will achieve their licence to advise within six months and reach diploma level in 12 months, with the training part-funded by Openwork.
Scott Gallacher, chartered financial planner at Leicester-based Rowley Turton, said: "As there is undoubtedly a shortage of qualified financial advisers, any initiative to help people into our profession is to be welcomed.
"This will help maintain the profession in the long term and hopefully will go some way to addressing the advice gap."
