The St James’s Place Academy trains individuals who have no previous financial advisory experience, over a two-year intensive training programme which culminates in them joining its partnership and establishing their own wealth management firm under the St James’s Place banner.
For the second intake this year the firm said it received 200 applications, with a rigorous selection process weeding the successful candidates down to fill the 20 places on offer.
Successful candidates this time round included former lawyers, investment bankers, property specialists and a professional cricketer, St James’s Place said.
It put the huge interest down to how RDR is making financial advice a more attractive industry to join because it requires more rigorous minimum levels of qualification.
Adrian Batchelor, director of St James’s Place Academy, said: "Since we launched the Academy this year we have accepted two intakes of highly professional candidates actively seeking a career in wealth management.
"The two year apprenticeship we offer is tough and will not suit everyone. Candidates not only have to qualify but also understand in practical terms how to provide wealth management advice to the exacting standards of the St James’s Place Partnership, as well as build a successful business network and client base. The high calibre of candidates proves, professional people are keen to enter into the financial advisory arena.
"Proper support for people choosing to change careers and enter financial advice is essential. We are investing £2 million per year into the Academy to train new talent in to a better, more professional and attractive industry, thanks to the changes brought about by the Retail Distribution Review."
Have you witnessed more interest from job-seekers in joining the financial advice sector? Do you think St James’s Place offers a particularly attractive opportunity? Use the comments box below…