The Quilter Foundation, the charity arm of wealth manager Quilter, is partnering with social mobility charity The Brokerage to help more young people from socially-disadvantaged background find jobs in Financial Planning and the City.

The Brokerage has so far helped more than 84,000 young people from working class and ethnic minority backgrounds to pursue their career potential.

The three year partnership will fund the expansion of a five-stage ‘Pathway to the City’ strategy which aims to provide 4,020 young people aged 16-25 with the skills, knowledge and confidence needed to complete relevant work experience.

Quilter staff will get involved in creating volunteering opportunities with The Brokerage including careers panels, masterclasses and micro-mentoring.

Quilter Foundation says that individuals from privileged backgrounds are 60% more likely to secure a professional role within the financial services sector, compared to those from a poorer background.

The partnership is aimed at tackling this disparity.

Penny Cole, Quilter Foundation trustee and human resources director at Quilter, said: “We are proud to announce our new partnership with The Brokerage. Together, we will work to drive positive change within the workplace to allow ambitious young people from disadvantaged backgrounds equal access to opportunities to help them make their first step into a professional career.

“The importance of providing support to the younger generation is at an all-time high, as we are currently in a period where economic hardships could potentially steer people away from pursuing their desired career.

“We are excited to become a part of The Brokerage’s ongoing mission to help more young people develop their skills and ultimately achieve their career goals, irrespective of their backgrounds.”

Sarah Devonport, CEO of The Brokerage, said: “The Brokerage is thrilled to announce its new partnership with Quilter Foundation, enabling further expansion of its Pathway to the City programme, a unique initiative designed to empower and connect disadvantaged young people aged 16-25 to careers in the City.

“We firmly believe that collaboration is the key to unlocking opportunities and creating lasting change. This partnership will enable The Brokerage to leverage the immense value of Quilter Foundation’s resources and people. Together, we will work to address the barriers that exist for talented young people from working-class backgrounds to build their careers in the Financial Services and Professional Services sectors.”

Quilter is one of the UK's largest wealth managers and looks after £101.9 billion in customer investments (as at 31 March). It has an adviser and customer offering spanning financial advice, investment platforms, multi-asset investment solutions and discretionary fund management.