The New Model Business Academy (NMBA) has announced the development of a mortgage adviser apprenticeship programme.
The NMBA, which already operates financial adviser and paraplanner apprenticeship schemes, will take on its first cohort of mortgage adviser students this autumn.
The mortgage adviser apprenticeship programme will take apprentices 15 months to complete and includes both the London Institute of Banking and Finance (LIBF) CeMAP Qualification and training on the additional soft skills required within the Apprenticeship Standard.
This development comes just a week after the NMBA announced it had received additional funding from the Education and Skills Funding Agency, enabling it to expand its overall apprenticeship plans.
The NMBA is the not-for-profit training and development division of The SimplyBiz Group.
Janice Laing, joint managing director of the NMBA, said: “There is a serious need for new blood in the mortgage advice sector. AMI estimates that the number of pure mortgage advisers dropped to around 12,000 in 2016, from approximately 30,000 10 years previously; a significant reduction in such a vital business area.
“The NMBA, The SimplyBiz Group and the wider industry are wholly committed to bringing new financial services professionals on board across the industry. We are confident that the mortgage adviser apprenticeship programme contains comprehensive elements of both technical and soft skills, and I am certain it will prove an attractive option for many who are considering their future options.”
Martin Reynolds, chief executive of SimplyBiz Mortgages and chair of AMI, added: “It is essential that a robust advice process remains at the heart of mortgage sales, and the NMBA apprenticeship scheme will ensure that all the right foundations are in place.
“The combination of technical skills and qualifications with vital soft skills included in the programme mean that these mortgage advisers of the future will enter the sector with all they need to trade compliantly and successfully.”