PLAN TO WOO GRADUATES INTO FINANCIAL ADVICE CAREERS

A unique initiative to inspire graduates into a career in financial advice has been launched by Norwich Union.

It comes at a time when the company’s research suggests that 24% of advisers are thinking of retiring or leaving the profession.

The NU Future Adviser programme also comes as Retail Distribution Review (RDR) challenges threaten the advisory capacity of the market. Its proposals set higher professional standards, changing remuneration structures and requiring higher capital adequacy.

To maintain the number of advisers, NU believes the industry must step in and build awareness and enthusiasm amongst graduates for a career in the sector.

Steve Gay, Distribution Development Director, said advisory firms found it difficult to recruit high-calibre people yet undergraduates were often unaware that the profession was crying out for entrants.

“We're taking a leading role in bringing these parties together, thereby ensuring that in the future the public has access to quality financial advice.”

NU’s programme will give students an invaluable insight into the workings of the financial advice sector and prepare and encourage them to secure employment with advisory businesses. 

Manchester Metropolitan University Business School will work alongside NU in encouraging students on to appropriate degree courses.