SimplyBiz is to grow its adviser training academy to 160 apprentices this year, as the group anticipates meeting a growing demand for advice in the market.
The New Model Business Academy now has 100 apprentices enrolled on its development programme, with another three groups of students expected to join before October this year.
Each group joining the academy consists of 20 students, with the first to graduate later this year.
Whilst SimplyBiz has no plans to increase the size of each cohort joining the programme it plans to keep the scheme in place indefinitely, predicting demand for advice in the market will remain "forever".
The New Model Business Academy launched its financial adviser apprenticeship programme in March 2018, after becoming accredited as an approved training provider, with its paraplanning equivalent launching later that year.
Richard Ardron, marketing director of The SimplyBiz Group, said the demand for professional financial advice has never been greater, with an increasing acknowledgement of the value advice can provide to consumers
He said: "The SimplyBiz Group has always been passionate about promoting advice as an attractive career path, and we are fully committed to doing all we can to ensure the long-term growth of our sector.
"Through our financial adviser and paraplanner apprenticeship programmes, we’ve encountered the next generation of financial services workers, and are delighted to see so many hard-working, intelligent and dedicated professionals ready to provide much-needed advice in the future."
Last year Tom Hegarty, managing director of the New Model Business Academy, warned without apprenticeships providing entry points into the industry the numbers of financial advisers would continue to dwindle.
Earlier this year Sesame Bankhall Group launched an apprenticeship scheme almost four years after it sold off the Financial Adviser School it established.
The scheme is in partnership with training specialists Simply Academy and is aimed at helping advisory firms across Sesame Network, PMS Mortgage Club and Bankhall to bolster their staff development and recruitment.
In 2015 Sesame Bankhall Group announced it would wind down the Financial Adviser School it set up in 2011.
The school was bought by Old Mutual Wealth/Intrinsic in 2016 and relaunched.
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