The Personal Finance Society (PFS) has teamed up with publishing and education company Pearson to create a career pathway into the financial advice profession in a bid to tackle industry’s talent shortage.
Pearson’s BTEC Enhanced Diploma in Business is now recognised by the Chartered Insurance Institute (CII) as a level three qualification that can act as a bridge to the professional body’s qualifications.
This recognition means 15,000 students studying the BTEC Enhanced Diploma in Business, which is equivalent to three A-Levels, will learn how they could go on to enter the personal finance profession without “going down the traditional higher education route”.
In the next academic year, the PFS and Pearson will target around five colleges with about 400 students with information about how they can take their BTEC qualification, complete other CII examinations and get a job in the personal finance sector.
Once this pilot is completed, the PFS and Pearson will look to roll out a “career map” into financial advice to all colleges offering the BTEC Enhanced Diploma in Business.
Clear path
Laura Hall, manager for BTEC business, enterprise and law at Pearson, said: “We will explain how you can climb to the top of the financial advice profession without necessarily going down the traditional higher education route.”
Keith Richards, chief executive of the Personal Finance Society, said: “Over the last few years, there has been a growing need and demand for new entrants to the financial advice profession to meet consumer demand as well as succession planning for retiring advisers.
“This is a great way to attract students to a profession where you can develop a rewarding career and have a positive impact on people’s lives.”
