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Quarter of Nucleus users take up learning service

Quarter of Nucleus users take up learning service

Around a quarter of Nucleus users have taken up its online learning service in the seven months since it was launched.

Barry Neilson, the platform’s business development director, said the service was introduced because more advisers are seeking to develop their own talent.

He said that since the Illuminate Learn service had been launched in January around a quarter of Nucleus users had used it.

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Mr Neilson said: “We have seen advisers who are beginning to work past capacity so they are struggling to do it with their existing infrastructure.

“This is forcing them to consider taking up new advisers or train administration staff or paraplanners to get more involved with the client.

“Advisers are struggling to recruit so they are breeding their own much more than they have done in the past.

“We have witnessed our firms move in that direction.”

Mr Neilson added that this would allow advice firms to avoid having to sell to consolidators because the younger advisers they have trained could take on the business.

He pointed to the fact that a number of consolidators have established their own academies as evidence of the fact some firms are struggling to recruit.

Nucleus’s online learning service is provided by Redmill Advance, which provides courses for both the R0 and AF exams.

David Tait, managing director of Redmill Advance, said he had seen a “huge” uptake with 1,200 users across 57 courses so far in July.

He said: “The idea is to bring some new blood into the industry and really give advisers the opportunity to have their own learning academy.”

He added that advisers could white label the proposition.

damian.fantato@ft.com