The first training session begins today for the Graduate Foundation College (GFC) and the FSP. This college is the first of its kind whereby 150 selected unemployed graduates are offered a concentrated 10-week pre-employment training course preparing them to join financial advisory firms.
When the training is complete the graduates will join small to medium-sized practices in Birmingham, Cardiff, Edinburgh, Leeds, London and Manchester for a minimum of six months of paid industry experience.
Liz Field, CEO of FSP, said: "This initiative gives small and medium-sized financial advisory practices the opportunity to recruit bright young graduates who have already demonstrated their commitment to the profession by completing the course.
"The advantage is they can hit the ground running and make an immediate contribution to the practices they join without the drain on resources of an induction programme, which many smaller practices simply cannot provide."
Andrew Waller, director of independent, City of London, financial advisers, Generation Financial Services said: "Our business is growing and needs to take on staff, and this is a prudent and cost-effective way of doing so. It will clearly add value, especially to client servicing."
Waller continued: "Without the GFC, my firm would not be taking on any graduates, as it simply does not have the facilities to provide the induction and initial training required."
The GFC was developed with the support of the UK Commission for Employment and Skills and major sector employers. It was set up to help solve the difficulties smaller practices often experience with regard to recruiting fresh talent."
