As we go into 2025, the team at BTS are clear in our goals – to support individuals and businesses even further when it comes to careers within financial services.
To start as we mean to go on, we want to invite you in on the conversations we have been having. BTS team member Natalie Dawes, has raised some questions off the back of work we have been doing in the last few months.
I almost feel a bit ‘oh blimey’ writing this article, given how much I have very openly and positively spoken about the self-employed opportunities within the industry, particularly when it comes to academies.
You might have seen that over the past 12 months, BTS has been actively working with some of the largest wealth management academies. We’ve been out to visit SJP, M&G, Quilter and True Potential to find out more about the sorts of roles they offer to aspiring financial advisers.
I want to make something very clear – for the right person, self-employed routes via an academy are a brilliant option. The trick is finding the right academy for every person. If there’s one thing I’ve learnt in recent months, it’s how each academy has its own way of doing things, and that is a very good thing, it means we are diverse in our offerings.
Diverse opportunities and different entry points to our industry (and more of them!) is something that BTS, as part of the wider Steering Group of the New Talent Alliance is working hard to achieve for our profession.
I speak to aspiring advisers every week – we are blessed at BTS that we are a trusted arm of support when it comes to career development for so many. However, sometimes, the response I get when I mention self-employed routes is, ‘no thanks’.
Naturally, we don’t just end the conversation there, we talk things through. As a result, many people become much more open to exploring all their options, as opposed to shutting the door on something that might actually be right for them.
There are though, people that just don’t want to entertain becoming an adviser on a self-employed basis, for a variety of really valid reasons.
Some don’t feel they have enough experience, some aren’t keen on training at the same time as navigating how to run a business, others want the security of a salary, to name just a few. And they ARE all valid.
I should probably point out that some of the academies we work with such as St. James’s Place Financial Adviser Academy, do offer employed options. Admittedly, they feel a little less available, but it should still be noted that it is an option to secure an employed role via an academy.
And another thing – not everyone that applies to an academy, is offered a place. In fact, all the academies I have had the pleasure of having a nosy at in these past few months, have shown that they are looking to ensure that their academy is right for each and every person they take on.
Let’s think beyond the traditional academies as a way of becoming an adviser. I’ll happily do a little shout out here to North-East based firm – True Potential LLP. They have their own internal academy and a really successful one at that.
True Potential are doing their bit within the industry to increase adviser numbers, by developing their people internally and also recruiting trainee financial advisers externally – on an employed basis. If you know me well, you’ll know this gets a big wahoo from yours truly!
I have also worked quite closely with many of the team at True Potential so can advocate what a great firm they are. This is something we want to expand on at BTS, by getting to know even more firms that are doing similar things to that of True Potential.
I might be at risk of putting another unpopular opinion out there, but I strongly believe that there are way more opportunities within the industry for employed trainee advisers than perhaps it seems.
Is this just a theory? Or perhaps it’s a hope of mine because I care so much about this industry and about making a difference where we really need it.
The BTS team, are conducting some research in this area. It is after all our primary objective of the Careers Zone to showcase the diverse career options in our profession – we just need to find them.
Are you a firm that is currently recruiting and doing so on an employed basis? Or do you work for a firm that is looking to grow their team? We would love to hear from you to get to know you and prove the theory that there ARE opportunities out there.
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