Schroders Personal Wealth has launched the first of its adviser academies in the capital as part of its plans to expand its business and "repopulate the wealth advice sector".
In an update today (September 8) the company said its London academy had launched with an intake of 20 trainee advisers beginning a programme spanning 18 months.
All trainees will sit exams with the Chartered Insurance Institute, starting with the R01 financial services, regulation and ethics exam and progressing to a full diploma in regulated planning.
In September last year FTAdviser revealed Schroders Personal Wealth had hired Tom Horan as head of adviser development to lead the set up of its academy, having joined from St James's Place Wealth Management.
The launch of the London academy was delayed by about three months as a result of the coronavirus pandemic, with Schroders Personal Wealth keen for trainees to meet and learn in a face-to-face environment when restrictions allowed.
Mr Horan said he now had plans to increase the number of intakes next year and launch in more locations throughout the UK.
He added: "This is another key milestone for the business and we are very excited to have launched our inaugural adviser academy.
"Given the current economic climate the need for high quality financial advice has never been more important.
"The launch of the academy not only plays a big part in growing our business it also helps to address a national need to repopulate the wealth advice sector."
Once graduated from the academy the firm hopes candidates will stay with Schroders Personal Wealth as it pursues ambitions to become a top three financial planning business in the UK within five years.
Earlier this year the company, born from a joint venture between Schroders and Lloyds, hired former Openwork boss Mark Duckworth as its chief executive.
rachel.mortimer@ft.com
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