The Personal Finance Society (PFS) said 250 people have so far expressed interest in its Pathway to the Profession initiative that will support students taking their first step towards gaining their Diploma in Regulated Financial Planning.

Launched in July, the PFS Pathway to the Profession will see a £1m investment in initiatives designed to attract and nurture talent for the benefit of the Financial Planning profession.

Among them is a £200,000 investment made to support 500 students taking the R05 Financial Protection module, as a first step towards gaining their Diploma in Regulated Financial Planning.

They will also benefit from free PFS membership as they embark on their professional journey.

The R05 module is a recognised Financial Planning qualification focused on financial protection, which also aims to build essential financial literacy skills for the future.

Within eight weeks, more than 250 individuals have expressed interest in the initiative, more than 200 of which said they had no previous experience or qualifications in Financial Planning or advice.

Successful candidates will access a wide range of member benefits, including CPD events, networking opportunities and mentoring.

Carla Brown, president of the PFS, said: “We are delighted by the initial response to this PFS Pathway to the Profession initiative, which demonstrates an appetite for meaningful careers in Financial Planning.

“By investing in talent and creating clear, accessible entry points into the profession, the PFS is proud to demonstrate its commitment to strengthening the future of the financial planning sector.”

At the launch in July the professional body said the initiative has four key elements:

• Investing in early careers to equip aspiring professionals with the knowledge, skills, and behaviours to launch thriving careers in Financial Planning;
• Inspiring the next generation, unearthing new talent, helping career returners and creating opportunities for those joining the profession;
• Involving more of its members, encouraging them to become active PFS volunteers and helping them to support aspiring professionals; and
• Informing secondary-school age children of the benefits and opportunities in Financial Planning, because “delivering practical, engaging financial education will benefit them, wider society and the profession.”