British wealth manager Kingswood has set up an advice academy, which will offer a two-year programme for aspiring financial advisers.

The first batch of four trainee advisers have joined the academy. They will receive a level 4 diploma from the CII in financial planning at the end of the programme.

The trainees will have a 13-week rotation in wealth planning in which they will shadow a wealth planner.

They will be also provided with the opportunity to participate in external and internal training sessions, along with set projects and tasks throughout the course.

The enrolment to Kingswood Academy involved an initial interview with Kingswood vice president of HR Linda Tottem, followed by a numerical test.

For the next round, they were interviewed by Kingswood wealth management chief Leigh Philpot and management director Charlie Gillespie.

Speaking on the launch of the academy, Philpot said: “The Kingswood Academy is not only an important initiative for our people and clients, but it will be pivotal in organically growing our business over the long-term.”

“With a new generation of bright and motivated advisers coming through, there is less risk of clients becoming orphaned because their adviser has retired or left the industry,” he added.

Similar moves by other wealth managers

Earlier this month, Singaporean lender DBS launched an in-house digital training institute in a bid to empower its technology team of nearly 5,000 people for the future.

In 2019, wealth manager Quilter unveiled a new educational programme, to enable students to earn a Diploma for Financial Advisers in three months.

In 2015, Fairstone Financial, a UK-based financial management firm, launched a new online training academy to support advisers who want to achieve individual chartered status.

In 2014, the American Bankers Association launched ABA Wealth Management and Trust Online Training, a suite of self-paced courses focusing on critical competencies for advisers to master in order to best serve trust clients and their families.