The ‘We Are Change’ initiative is designed to provide training and qualification support to those looking to start a career in financial advice.

The grant from the Nucleus Foundation will allow the Verve Foundation to launch a programme targeted specifically at women for the first time.

The support from the Nucleus Foundation will provide the 10 women with the funding required to achieve their Level 4 CII Diploma in regulated Financial Planning.

The Nucleus Foundation was launched at the start of the year with £750,000 of initial funding. One of its key areas of focus is to encourage more women into financial advice careers. It works with organisations who are committed to increasing diversity in the sector.

Nucleus Foundation says that according to the most recent data from the FCA only 16% of regulated financial advisers in the UK are women. 

Richard Rowney, CEO of Nucleus and Nucleus Foundation Trustee, said: “We’re proud that the Foundation’s first major investment is centred on encouraging more women to become advisers. We greatly respect the work of the Verve Foundation and are pleased to be able to partner with them to play our part in tackling the diversity gap in the advice sector. 

“This is one of the first grants the Nucleus Foundation has made and it clearly demonstrates the positive contribution and impact we want to make. I can’t think of a better way of using our resources to bring about this much needed change, and help train the next generation of financial advisers.” 

Hayley Rabbets, head of the Verve Foundation, said: “We’re delighted to have the support from the Nucleus Foundation to launch an exclusive We Are Change cohort specifically designed to help support more women into the industry.

“Anything the sector can do to break down barriers and make the industry a more diverse, inclusive and welcoming place to be is to be celebrated. So, to have the support of the Nucleus Foundation, whose aims and values so closely align with our own, is really exciting.”

• More details on the Verve Foundation website