Advice sector beckons as economic uncertainty threatens jobs

By Barrie Hudson - 23 October 2020

Business

Employees affected by job cuts across the economy should look to the advice sector for retraining and job opportunities.

  • Mike Morrow, Openwork's Wealth and Platform Director

    Mike Morrow, Openwork's Wealth and Platform Director

That is the verdict of Swindon-based Openwork, one of the UK’s largest and longest-established financial advice and investment networks.

It says that tnvestment in its award-winning Openwork Academy is driving increases in the number of trainees joining, and strengthening its position as one of the fastest-growing advice networks in the UK.

Mike Morrow, the firm's Wealth and Platform Director, said: “It is a worrying time for many employees across the economy and even in the financial services industry, with major banks and insurers cutting jobs.

“At Openwork we are very much focused on recruitment and are committed to increasing the number of advisers across our network to help meet the growing demand for financial advice.

“We are delivering on ambitious plans for expansion at the Academy for 2020 and into 2021, and are particularly interested in hearing from people looking to change their careers and to join a fast-growing business.”

Openwork Limited has over 4,000 financial advisers operating across the UK. It operates as a directly authorised, multi-panel distribution network.

 

The Openwork Academy welcomes its next group of trainees this month, with 31 expected to join. They will be split between the Wealth and Mortgage programmes, taking the total to a record 150 this year. 

The firm expects to have appointed 70 new Wealth advisers and 40 new Mortgage advisers from this year's graduates by the end of 2020.

This month sees the launch of new training in more soft skills, and knowledge-based virtual sessions to prepare recruits for their new roles in firms.

The Academy, Openwork says, is achieving particular success in attracting people switching to second careers – the average age of candidates is 35. It is also improving gender diversity in the industry, with women making up 36 percent of candidates.

Academy graduates are going on to success in their exams with a pass rate of 90 percen across all CII qualifications.  Since July 1, when centres reopened, the Academy has recorded 257 exam sittings.

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