Mentoring: How we support the next generation of Advisers

Mentoring meetingBy Rachel Efetha, Chartered Financial Planner.

Personal Finance Society Mentoring Scheme

When the Personal Finance Society (PFS) approached me a few weeks ago about joining their Mentoring Scheme, I originally thought ‘Great idea – I could do with a Mentor!’ until the penny dropped… I’m in the top 15% of Financial Advisers in terms of qualifications and I’ve been advising clients for 20 years – I’m the Mentor, not the Mentee, quite a scary realisation!

I signed up for the scheme and the next day my first enquiry came in.  I was quite nervous about it as I’ve never done anything like this before, but my Mentee turned out to be exactly the type of person that I am in a position to guide and inspire.  She is aged 23 and is working in Financial Services but on the product side rather than the advice side and wanted some guidance on how to become a Financial Adviser and exam technique.

How the Mentoring Scheme works.

I talked her through my route to becoming an Adviser – my Financial Services degree, becoming an administrator, then a paraplanner (someone who writes the reports for the adviser to free up their time to see more clients) gaining my qualifications and then becoming an adviser.  It was a four-year process but gave me such good grounding for my dealings with clients and I’m able to sympathise with the admin and paraplanning team having done their job before!

There used to be ‘short-cuts’ to becoming an adviser, mainly through the banks and product providers own sales force, becoming an adviser after only a few weeks training, but nowadays the exams you have to take are a great deal more involved and degree equivalent and the banks have pulled out of the advice market.  This has made us much more professional and whilst the direct entrants in the old days were almost certainly very good salespeople, their technical knowledge was not always up to scratch.

The Personal Financial Society Apprenticeship scheme.

I directed my Mentee to the Apprenticeship scheme run by the PFS and put her in touch with our Apprentice, Sam to discuss the support he has received towards exam revision and also put her in touch with an old colleague who is an IFA in her geographical area to talk to her about what he knows about local firms and opportunities.  I’m looking forward to staying in touch with her and following her career progression over the next few decades. I hope she will love the job as much as I do.

How Anstee & Co can help you with financial planning.

We are a firm of Independent Financial Advisers (IFA’s). As you can see our staff are highly regarded within the financial services industry. Being independent is important to us as it means that the advice, we give is unbiased. We look at all the financial options available from the “whole of the market”. Some financial advice firms will recommend only their own products or work from a restricted panel. We feel that is not best, for you our client.

If you are looking for financial advice, then why not arrange a meeting. The first meeting is where we get to know you and find out about what you are looking to achieve. This meeting is at our expense.

Why not arrange your meeting today.

Meetings can be at your home or one of our offices located at –

Also, our financial planners live and make use of meeting rooms in-

  • Bedford, Bedfordshire
  • Market Harborough, Leicestershire
  • Northampton, Towcester, Wellingborough and Brackley in Northamptonshire.
2019-07-22T16:15:40+01:00 July 22nd, 2019|News|