Graduate Trainee Financial Adviser
If you are bright, numerate, have a sales and service personality, a genuine interest in financial planning, are ambitious to develop and want to be in business for yourself, this could be the opportunity for you.
The market for financial advice
The market for financial advice is growing strongly as successive governments pass more responsibility onto individuals to make their own financial provisions and also because tax laws become ever more complex. Meanwhile, the average age of financial advisers in the U.K is age 54 so within the next decade many of them will have retired.
This combination of increasing demand for financial advice and a dwindling supply of financial advisers creates an excellent entrepreneurial opportunity.
About Future Perfect
Established in 1989, Future Perfect has a team of 15 Financial Advisers and Mortgage Advisers, looking after thousands of client households across the Midlands. We have grown through our ethos of offering quality face-to-face financial planning advice and our commitment to building trusted and enduring relationships with clients. Our head office in based in Binley Business Park, Coventry.
We are part of a financial services distribution company called Openwork Ltd, which provides a range of business support to a nationwide network of over 600 locally owned and managed financial advisory businesses such as Future Perfect. We have been in the top 25 of Openwork’s businesses for over 15 years.
A career as a Financial Adviser
Financial Advisers help clients make well-informed decisions about their financial journey through life. This means discussing what they want out of life, what their financial requirements will be and how resources can be harnessed towards achieving their goals. You can then recommend financial products and services to meet their current and future needs. You could be advising your clients on protection insurance, pensions, investments or mortgages.
Probably the best part of being a financial adviser is the feeling that you have really helped a client improve their finances, to be appreciated for that and to build relationships with clients that can last literally decades.
Your career progression
We have a structured step-by-step programme for people to build up the practical, background knowledge and skills to become an effective Financial Adviser.
The first step is to become a proficient Client Relationship Manager:
Client Relationship Manager
This is a key role in the practice, because the busier advisers are, seeing clients and potential clients, the more they earn. The role you will be doing will involve key activities such as:
Making appointments for reviews with clients
Making appointments with potential clients, phoning from our 8,000 Linkedin connections
Connecting up to potential clients on LinkedIn and messaging them
Producing meeting packs for advisers for the appointments you have made, including policy statements, valuations etc
Confirming appointments
Updating our CRM system
Maintaining telemarketing statistics
As well as your salary of £18,750 pa, we’ll pay you a monthly bonus of £7.50 per appointment you make that is attended. This should take your earnings up to over £30,000 pa.
Wehave 2 people performing this role. Neither came from a marketing background and they are both earning around the OTE level. Both are highly motivated and feel valued by the team of advisers they make appointments for. This vacancy has come about because one of them has progressed to becoming a Financial Adviser.
Becoming a fully qualified Financial Adviser
After 4 months, you’ll join a part-time 8 month study programme to gain the Chartered Insurance InstituteDiploma of Professional Financial Advice, while continuing to do your current role. This qualification enables you to advise on pensions and investments, which are key for clients to build their financial independence.
The Level 4 diploma consists of 6 units, each with study material and an examination. The study material, examinations (but not re-sits), workshops and training courses are all paid for. You will need to spend two hours a day on personal study, one of which will be paid by Future Perfect. Openwork also run 2 day workshops per unit.
Having achieved the Diploma qualification, you will then go on a 2 week Openwork induction course before becoming a full-time Financial Adviser with Future Perfect.
As an adviser, we’ll pay you a retainer of £1,500/m and a monthly bonus of 20% of the fees you bring in. Your business will come from appointments you make yourself, ones that are made for you, networking and asking for personal recommendations. As well as giving you clients to service, we’ll also provide you with full admin back-up so you can focus on face-to-face advice.
Estimated earnings in Year 1 are £30,000 pa and £50,000 pa in Year 2. When you are ready, you can switch from getting a retainer to receiving a 50% share of the fees you generate, which should significantly enhance your earnings.
The Ideal Candidate
Becoming a Financial Adviser is not for the faint-hearted or the uncommitted. You must be highly motivated and totally committed to gaining the knowledge and expertise required.
You will also possess the following attributes:
Graduate or graduate calibre
A "Sales through Service" personality
Confident on the telephone and face to face
Numerate
Highly organised
IT proficient
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