To support the future of the advice industry, Fidelity Life is launching a training scheme to help attract new recruits to the sector.
The firm says its Career connect scheme will help bring new advisers to the industry as some retire or choose not to adopt updated licensing requirements. In July, the FMA reported that only 663 providers (just over a third) had received or applied for their full licence.
Fidelity Life Head of Solutions and Services Trecia Brown says the scheme is aimed at self-motivated people thinking about a career change, or who are interested in working in the financial services sector.
Career connect is a six-month part-time programme and can be completed while in full-time employment. Existing adviser businesses will also have the opportunity to register their interest to recruit qualified advisers from the programme.
There will be two intakes a year – February and July – with 20 applicants selected for each intake.
In addition to the formal Level 5 Certificate and Financial Advice New Zealand ethics course, the programme consists of eight supplementary modules. These include code of conduct and legislation training, lead generation techniques, and personal brand development.
The firm will also offer five scholarships in each intake, which will cover the costs of the formal qualifications and provide additional financial support throughout the programme.
We know many new advisers struggle to last more than 18 months in the industry…
Brown says: “We know many new advisers struggle to last more than 18 months in the industry, so every aspect of Career connect has been carefully curated to fully equip graduates with the qualifications, soft skills, and knowledge to excel as an adviser and match them to businesses that can support them.”
Fidelity Life is to host an online career evenings about the programme and provide a comprehensive overview on what it’s like to be a financial adviser. The first one will take place on 18 October, with another set for 3 November 2022, for the February 2023 intake.
More information about Fidelity Life’s Career connect programme can be found here.