Candid shuns salesmen in recruitment drive

Candid shuns salesmen in recruitment drive

Candid Financial Advice is launching a recruitment drive for trainee financial advisers because existing ones are too used to "fat fees".

The firm, which looks after clients from offices in Bath and Oxfordshire, is looking to recruit up to six trainees over the next year.

Ian Millward, director at Candid Financial Advice, said: "There is huge demand for low-cost, high quality advice and we need to make a number of further hires to ensure we keep pace with the growing demand for our services.

"We’ve largely discounted being able to recruit existing advisers as many are too sales orientated, or have become used to living off the sort of fat fees that we set up Candid to combat.

"Our preferred route is to recruit bright, talented people with the right attitude and then commit to training and immersing them in our way of doing things.

"It’s hard work, but for potential financial advisers who want a very clear career path in a professional services environment we think it’s an unrivalled opportunity."

Mr Millward said that since the company launched three years ago it now looks after £60m on behalf of its clients.

He said the company aims to have trainees Level 4 qualified within a year and Level 6 within three years of joining.

They will work alongside an existing adviser and gradually assume more responsibility as their experience and competence grows.

Mr Millward said: "It’s probably not the easiest route we could take, but it’s the only way of ensuring we have exceptional advisers in future who work to our demanding standards and fit our low fee business model.

"And for the right candidates this could be a life changing opportunity, as we continue to reinvent how high net worth financial advice is delivered in the UK."

Last month Candid criticised larger firms for not spelling out their charges on their websites, making it harder for potential clients to shop around.