Sesame Bankhall Group has launched an apprenticeship scheme almost four years after it sold off the Financial Adviser School it established.
The new apprenticeship scheme is in partnership with training specialists Simply Academy and is aimed at helping advisory firms across Sesame Network, PMS Mortgage Club and Bankhall to bolster their staff development and recruitment.
The scheme comes almost four years after Sesame Bankhall Group announced it would wind down the Financial Adviser School it set up in 2011.
Stephen Gazzard, then managing director of Sesame Bankhall Group, said the decision not to offer an appointed representative network option for wealth firms meant it no longer made sense for the school to accept new recruits.
The school was bought by Old Mutual Wealth/Intrinsic in 2016 and relaunched.
Apprentices under Sesame Bankhall Group’s new scheme will follow an approved study programme leading to a recognised industry qualification, such as Level four Diploma, along with developing the necessary business and behavioural skills for the role.
The apprenticeship scheme is available to firms based in England across a variety of roles, including financial advisers, paraplanners, mortgage advisers and financial services administrators.
Lisa Winnard, group people and service director at Sesame Bankhall Group, said: "Apprenticeships are growing in popularity as an effective and cost-efficient solution for ambitious advisory firms who want to develop their people and bring new advisers on board.
"We’re delighted to be partnering with Simply Academy, who are a leading apprenticeship provider with more than 10 years’ knowledge and experience in this specialist area.
"Combining our expertise and reach through this structured programme will open up a valuable new training and development avenue for mortgage, protection and wealth firms across Sesame, Bankhall and PMS."
Martin Schultheiss, group managing director of Sesame Bankhall Group, added: "At SBG we exist to ensure that advisers remain at the absolute centre of all advice, and to achieve this it’s imperative that our profession builds a sustainable future by attracting and nurturing the next generation.
"Research has highlighted a future workforce that’s looking for flexibility, freedom, uncapped earning potential and an entrepreneurial flavour – all of which our industry can offer.
"We’re truly excited to be leaders in strengthening the adviser industry, so that consumers get the access to professional advice that they so desperately need."
Mark Fenwick, head of apprenticeships at Simply Academy, said: "The industry improvements we have seen over recent years has led to a step change in financial apprenticeship standards.
"We want to help advisory firms to understand the opportunities this has created, along with just how cost-effective the apprenticeship route can be and the government funding that’s available for firms based in England.
"In addition, each apprenticeship scheme is tailored to the needs of the individual advisory firm, so there is a solution for everyone."
Neil Selby, director of Hertfordshire-based The Mortgage Ladder, said he had found Simply Academy to be very useful.
He said: "We’ve found that regular and structured assessment and feedback is extremely beneficial. It gives us the opportunity to have detailed discussions, give and receive feedback, and ultimately keep a close eye on progress."
The launch of the scheme comes after Garry Heath, director general of trade body Libertatum announced the launch of an adviser training project, Adviser Train, intended to boost recruitment in the industry.
Mr Heath claimed there was an untouched fund within the government's apprenticeship scheme for financial services that should be used to ensure smaller advisory businesses can afford the cost of training new recruits.
emma.hughes@ft.com
