Even if companies do not take advantage of Kickstart, there are other programmes available to help advisers attract and retain fresh talent.
City Gateway’s training and apprenticeship programme prepares young people aged 16–24 for employment, further training or apprenticeships through training, coaching and work experience.
Many financial services companies have created apprenticeship schemes and work placement opportunities for school and college leavers, in a bid to attract fresh talent to the financial services industry and to retain it.
In August, Kleinwort Hambros announced it has opened applications for its 2020 Apprenticeship Scheme with 14 vacancies available at its UK offices.
The 22 month-long scheme, which will run from November 2020, will offer successful applicants the opportunity to become a fully integrated member of a department for the duration of the scheme, allowing trainees to develop a range of skills including digital and technical, in both back and front office roles.
Elena Orsini, head of HR at Kleinwort Hambros, says: “It is crucial for businesses to continue to encourage talented people to enter the workforce and provide the opportunities for them to do so. By equipping our apprentices with the training and support required to take them further in their careers, it is our aim to contribute to job-growth in the sector in the long-term."
Trade bodies and educational and accrediting organisations also offer apprenticeship or training schemes. For example, the Chartered Insurance Institute and the Personal Finance Society have the Aspire apprenticeships programme.
Designed specifically for the insurance and financial services sectors, Aspire aims to help employers tailor training for their firm's requirements, providing CII qualifications aligned to apprenticeship standards and frameworks, thereby supporting newcomers' career progression.
Other bodies such as the New Model Business Academy or the St James's Place Academy have also been focusing on ways to attract and recruit new talent.
According to Shaun Godfrey, head of marketing and engagement for St James's Place Academy, the FTSE-listed company is piloting virtual career insight events and 'taster' events for prospective candidates.
Leigh Tarleton, director and IFA for Beaufort St Helens, is full of praise for the apprenticeship programme the firm used when recruiting two university graduates a couple of years ago.
He says: "The impact has been profound, both for them and for our business.
"They joined an apprenticeship programme run by the NMBA, while carrying out administrative duties in the office and observing client meetings.
"This combination of structured and practical training and experience enabled them to develop in a rounded way and helped them decide which paths they want to take."
