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Consolidator to launch adviser academy in 2021

Consolidator to launch adviser academy in 2021

Consolidator Independent Wealth Planners will launch an adviser academy next year, in a move it hopes will eventually see 50 advisers graduate to join the business each year. 

The company has continued on the acquisition trail throughout lockdown as part of its ambitions to manage £5bn of assets in the coming year, but speaking with FTAdviser chief executive David Inglesfield said the launch of the academy would also support plans for organic growth within the business. 

The advice boss said he hoped to launch the academy in 2021, but admitted it would take a couple of years to get it fully up and running with a "significant commitment" on the part of IWP.

Once it is fully functioning Mr Inglesfield said the consolidator planned to place 50 trainees with the academy each year, who would then graduate to replace retiring advisers and support the company's plans for organic growth outside of acquisitions. 

He said: "We hope to gain traction this year and then start to get some people coming through the academy early next year. 

"What we are looking at doing in particular for the academy is bringing in those people changing career, for example professional sports people who reached the end of their career or people coming out of the forces and looking for a new career in civilian life. 

"Also people returning from parental leave - ultimately for whatever reason but people who have good life experience for whom this is a really attractive career move and we can support them through the qualification and exam process and provide them with training to become advisers."

The consolidator, which launched to market last year, has completed a string of acquisitions over the lockdown period, most recently buying Cornwall-based financial planning firm Westinsure Webb Financial Services in its tenth acquisition. 

Last month IWP acquired Richmond House Wealth Management in a deal which added £250m in assets under management and eight advisers to the business. 

Mr Inglesfield told FTAdviser said the company had seen an increased interest from firms looking to sell their business throughout the crisis, attributing the growth to sellers having ample time to consider their business plans on lockdown. 

Earlier this year Mr Inglesfield told FTAdviser the company, which is majority-owned and controlled by its own management team, was eyeing a pipeline of 20 deals and remained undeterred by the pandemic-fuelled market downturn. 

Acquired firms keep their own branding upon joining IWP but share the consolidator's master brand on a national level. 

rachel.mortimer@ft.com 

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