Tenet is to introduce a new ‘first year foundation degree’ as an entry route for new advisers to the IFA sector.
The adviser support group says the course will enable firms to recruit new candidates capable of advising within a limited range under supervision after the first exam is passed.
Aimed specifically at newcomers to the industry, the course covers topics such as how to operate and give advice, fee charging, skills application and all the necessary basic qualifications to be a competent professional adviser.
It enables participants who pass the first paper to begin giving advice at a very early stage. That means they can start earning money for their practice, immediately helping to offset the initial investment in the cost of their training.
Completing the full course is expected to take around 18 months, but Tenet’s foundation degree makes it possible for trainees to begin advising under supervision in as little as 12 weeks, following completion of the courses first phase which includes the CII’s new Regulation and Ethics exam R01.
The programme has been created in conjunction with Leeds City College and the first intake will commence in July with two-weeks of distance learning for the first exam.
Distribution & development director, Keith Richards, claimed that while there were similar courses available, none of them could offer an integral foundation degree which is set at QCF level 5.
He added: “There is a real need to create a flow of new advisers in readiness for RDR implementation and the great advantage of our programme is that candidates can learn and earn at the same time helping to reduce the financial burden on the host firm and equally testing the individuals compatibility and aptitude to advise at an early stage.”””
