A new national initiative has been launched to tackle the growing shortage of qualified financial advisers across the UK.

The programme aims to provides advisory firms with a 95% funded, fully-managed route to attract, train, and retain the next generation of talent.

It has been developed in partnership by LIBF, part of Walbrook Institute London, and Future Financial Adviser (FFA).

The companies say they have acted because the average adviser age is now 58 and attrition among support staff is rising. They say that means the profession faces a demographic and succession challenge. 

LIBF and FFA said their new partnership is designed to make entry into the profession simpler, more structured and more accessible for both young people and employers.

They said the Walbrook pathways enable firms to recruit young talent directly into the sector, offering trainees the chance to achieve a recognised level 3, 4 or 6 qualification and a clear route to progress in their careers. They can also be used to upskill existing staff into paraplanning or advisory roles.

The apprenticeship programme allows firms to attain funding and provides employee toolkits to ensure apprentices are supported with a structured and quality-assured programme from day 1. For new talent, they can earn and work, building a career that they might not previously have considered or been able to access, the companies said.

For employers, the model leverages government funding for apprenticeships, meaning that as much as 100% of the cost could be covered.

John Somerville, Director of Financial Services at LIBF, said:“This collaboration brings together education, industry, and innovation. The pathways provide a clear academic and professional structure, but crucially, they also make it easy for firms to participate.

“All the training, assessment, and funding administration are handled for them, and it’s been done with the input of some of the biggest names in the business. This means the package of support is ready ‘out of the box’ for firms to start the process as soon as possible. It’s a practical, scalable solution to the profession’s most pressing challenge.”

The pathways are launching with a nationwide campaign targeting students, parents, and employers - including school and university outreach, digital engagement on TikTok and online forums, and a series of webinars.

The first webinars for firms will be held on 2 December at 8:30am and 12:30pm on the topic of “Making apprenticeships work for your firm”. Each webinar is 30 minutes long and employers can sign up at: www.walbrook.ac.uk/libf/events/