An advice firm has chosen 21 year-old student Matthew Fagan to head up a scheme to train advisers in South Africa who will then serve UK clients online via video link.

Mr Fagan has recently become among the youngest ever to have achieved the Diploma in Regulated Financial Planning from the CII.

He is set to move to Ascot Wealth Management’s South Africa office to lead a team of 20 graduates through their CII exams in an intensive study programme.

Mr Fagan has been on AWM’s placement scheme for university students.

The project he will head up overseas is connected to AWM’s new business venture, AWM Direct.

The aim is to train qualified financial advisers based in Cape Town, South Africa, who will then service UK clients via video conference meetings.

AWM said in a statement: “This is a cutting-edge service which could possibly change the Industry. AWM Direct will target individuals who would normally assume they do not have the wealth to receive the benefits of a Financial Adviser and would be available to a wide market, whether they are someone at university looking to start an ISA or someone slightly older looking to transfer their pension.”

Mark Insley, managing director of AWM, said his gaining of the diploma at such a young age was “an incredible achievement” and a “credit to Matthew’s hard work and commitment both to the job and his personal progression that he has been able to achieve such a feat.”