The Chartered Institute for Securities & Investment (CISI) and NextGen Planners have launched a scholarship programme for new entrants to the financial planning profession.
The initial pilot will see 20 scholarships for the CISI Investment Advice Diploma and will include the CISI Financial Planning and Advice unit.
The scholarship will include exam entry and full training support from NextGen Planners, taking candidates to the CISI Level 4 Diploma qualification.
Applications for the programme will open on October 5 at the Change Festival, an event that is held for graduates and planners by the CISI and NextGen Planners.
The firms said the event welcomes over 150 graduates and 200 planners for a day and has sharp technical sessions.
Sally Plant, assistant director of financial planning and education development, said the scholarships are an effort to attract new talent from the next generation.
“We continue to innovate our offer and create new ways to engage with this young community, enabling students to see it, feel it and become the future of financial planning," she said.
"These scholarships provide a pathway for those interested in joining the community and in addition to the CISI Educational Trust Awards, provide a means for those enthused students to grab an opportunity with both hands."
Following the Change Festival, students, second careerists and people seeking work will be able to apply online until the end of November with the scholarship programme starting in January 2023.
NextGen Planners head of content, Adam Owen added: "With a value in excess of £6,000 per scholarship, this new progamme will go a long way to removing one of the biggest barriers to entry to our profession.
"As with everything we do at NextGen Planners, we want this to be a catalyst for people who may never have thought about a career in financial planning so that we can see a broader cross section of talent joining the profession.”