Hoxton Wealth has launched a three-year Financial Planning training programme called the Financial Planner Pathway.

The programme aims to equip trainee Planners with the skills, knowledge and support they need to succeed in the profession.

Trainees with Hoxton will begin their training in Dubai, where the wealth manager is headquartered. Their starting salary will be £24,000.

The trainees are all fully employed, enabling them to focus on learning without the pressures of client acquisition, the company says.

So far four trainees have joined the programme and it plans to add another four in the autumn.

The wealth manager said it has launched its training scheme in response to the adviser gap currently faced by the profession.

According to FCA figures quoted by the firm, in February there were only 254 advisers under the age of 25 authorised to provide retail investment advice in the UK. In comparison, 17,100 advisers were aged 50 and over - representing 48% of those in the profession.

Chris Ball, CEO at Hoxton Wealth, said: “The average Financial Planner in the UK is in their mid-50s, so the profession needs to prepare for wave of retirements in the next five to 10 years. We know that in the United States and Australia as examples, the advisory market is facing a similar problem.

“This leaves an urgent need for new, well-prepared talent - our Financial Planner Pathway Programme addresses this requirement head-on.

“The traditional path to Financial Planning often focuses heavily on technical knowledge without providing adequate training in business development, client relationships, or prospecting.

“We invest heavily in lead generation, providing our trainees with a steady stream of inbound leads. This helps them build successful habits early in their careers, setting the foundation for long-term growth.”