Taking on an apprentice can provide your business with real value and thanks to NMBA, the process of finding and developing an apprentice has never been easier, as we support both of you every step of the way.
All NMBA apprentices must meet our entry requirements, and are selected based on a number of factors including their ability to pass the course, meaning you can be confident that you’re bringing valuable talent into your firm.
Taking on an apprentice is a key part of succession planning. Beyond filling any immediate knowledge or skills gaps, an apprentice encourages you to think about your business, clients and apprentice’s development long-term.
With an apprentice, you have the opportunity to mould and develop someone for progression from the start of their journey.
With on-the-job training, you have the chance to pass down your valuable knowledge and experience, as well as allowing your clients to familiarise themselves with your apprentice and form new relationships.
As your apprentice develops, they’ll be able to take on more responsibility, work independently and begin to reduce your overall workload.
By freeing up more of your valuable time, you’ll be able to focus on developing your business, your relationships with your existing clients as well as developing relationships with new clients.
In additional to an increase in turnover, you may find that with more support in your business, you achieve a better work/life balance.
Bringing a younger adviser into your business brings with it the opportunity of diversifying your income streams. As you and your firm has matured, you may have stopped advising in certain areas due to the age of your current client base.
Bringing a younger adviser on board could help your firm attract younger clients, or develop relationships with your current client’s children, who will have different goals and needs, compared to older clients.
Hiring an apprentice is one of the most cost effective ways to train an employee and fill any skills gaps in your business.
With NMBA, our courses are up to 100% funded and we take care of both of you throughout the whole process. All you have to do is continue to run your business and train your apprentice as you would any new employee, ensuring 20% of their time is allocated for dedicated training that we’ll provide.
Alan Cox, APFS, Cert CII (MP&ER), Aff SWW, shares his experience of bringing an apprentice into his business and what spurred him on to do so.
“I couldn’t have predicted the pride I feel in Heather’s growth. Or, that bringing someone younger into the firm would create such huge business opportunities, as well as a comfortable succession pan and a sustainable business.”