Quilter is changing its adviser school model and will also supply soft skill training as well as advice qualifications as it rebrands to an academy.
Quilter told FT Adviser its Financial Adviser School was rebranding to Quilter Academy to reflect changes to the model.
The current school will change from being primarily focused on helping prospective advisers attain a qualification to an academy which aims to give students practical help and a role as a financial planner post-qualification.
The academy will still provide training for those seeking to obtain the Level 4 Diploma in Financial Planning but it will then go on to offer adviser development training.
This will include training around business development, adviser skills and other soft skill training.
In its results, published this morning (March 6), the firm said adding new advisers was a key contributor to future growth and training new advisers will be an increasing contributor to that growth.
It also said it would invest more into the academy: "Our target is for the new academy, coupled with new external hires, to deliver net growth in restricted financial planners in 2024 with momentum increasing from 2025 onwards."
Quilter bought the Financial Adviser School in 2016 from Sesame Bankhall Group shortly after the latter company closed its wealth network.
Chris Jones, academy director at Quilter, said: “Gaining a financial advice qualification is just the first step in learning the skills needed to be a financial adviser.
“The Quilter Academy will take someone new to the industry, perhaps from a previous career, someone returning to work, or post-graduates from university, and form them into a well-rounded financial adviser with all the skills needed to hit the ground running.”
All joiners will also be taught the specifics of being an adviser with Quilter, and will learn the firms’ systems and processes.
The academy will offer full-time and part-time courses.
Quilter will help find roles for those who qualify both within its national businesses and its network but graduates are not obliged to join either.
Developing soft skills
Speaking about the new academy to FT Adviser, Jones said Quilter wanted to develop soft skills and build confidence in advisers.
In terms of the people joining the academy, Jones said it would be a broad range from second careerists to postgraduates.
“The big piece of the jigsaw that has been missing is the additional development training,” Jones explained.
“This is a full programme to help people come into the industry, gain qualifications, but then take that knowledge they've gained from qualifications and turn that into practical knowledge and how to apply this to offering holistic financial planning to clients.”
When asked why now was the right time to transition to an academy, Jones said the advice gap was a driving factor behind this.
