Titan Wealth has launched an adviser academy to attract people from a broader range of backgrounds to the industry.
The talent development initiative provides participants with practical training and professional qualifications over the course of six months.
During the first three months participants will work towards key qualifications, before progressing to advice systems and processes. The Titan Wealth Academy also prepares participants for the people-facing aspect of financial planning by encouraging them to observe client meetings, attend networking events, build professional connections, and deliver presentations.
The programme aims to tackle some of the barriers that can prevent individuals from entering financial advice, particularly those from less advantaged socioeconomic backgrounds who may struggle with the financial, time and resource pressures associated with obtaining qualifications, by fully funding the required qualifications.
Participants will also be paid while they study, receive weekly revision support, and benefit from a framework of mentoring and practical experience.
The inaugural cohort is comprised of eight participants who have no prior experience in providing financial advice, seven of which have moved into the academy from existing roles at Titan Wealth, including paraplanning and administration. The firm’s plan is to open future intakes to more external candidates.
Participants are expected to sit the CII R06 Financial Planning Practice exam and begin advising clients in April. They will then be given further support for progression towards chartered status.
Pavitar Padam, head of Titan Wealth’s Academy, said: “Talent and ambition exist everywhere, and the industry should do more to create routes for people from different socioeconomic backgrounds and with different life experiences to build successful careers in financial planning.
“By investing in people who have the aptitude, determination and desire to help others, we can broaden access to the profession while developing excellent planners for the future.”
