Hundreds of would-be planners tried to get onto the fast-track programme run by 1825, Standard Life’s Financial Planning arm, based in Scotland.

The company, which is getting ready to welcome another batch of trainees this month, said it has been inundated with possible candidates since starting up.

The third intake starts this month, with seven new recruits.

Launched last year, the 1825 academy had 225 candidates in one round of applications, of which 11 were taken on. There were 105 applicants for the December intake, which led to 5 being taken on. 1825 is also launching a new Paraplanner traineeship scheme designed to fast track new entrants into the profession.

Marie Calvin, 1825 national academy manager, told Financial Planning Today: “Our goal is to try to show Financial Planning is a brilliant career route for the next generation.

“The key reason we are setting up Financial Planning and Paraplanning traineeships is we know the UK customer demand for professional advice is going to increase. So we are developing next generation of Financial Planning professionals to secure the future of high quality of advice firms.

“We know there’s going to be gaps for any advice firm, we want to ensure the future for advice firms, not just for us but equally for other firms they may wish to join.

“It’s a career route I took at the age of 20 when I was the youngest adviser at Standard Life at the time.”

The trainee planners, whose ages range between 23 up to 35, study at the same time as having a real job, Ms Calvin explained.

Financial Planning trainees undergo a two year structured program designed to give knowledge and skills to help them become a Financial Planning professional. They undertake a CII registered diploma. The December intake has passed 100% of their exams to date.

Some have so far completed their foundation and introduction in generic financial services and they have been doing their first operational placement in customer relationship development and a telephony handling skills course.

The trainees work at Standard Life for six months answering customer calls and getting used to explaining financial jargon in a “customer focused way”.

They will also undergo a traineeship in a small IFA office.

She explained that 1825 doesn’t necessarily look for graduates straight out of university. Ideally, the academy looks for a degree qualification so trainees can take on exams at diploma level but if they have had other experience in a Financial Planning environment that would be acceptable instead.

Some may be working in a Financial Planning business already doing admin support for advisers but the firm hasn’t had the resources to give them an opportunity to move into that role.

Some trainees have completed a customer relationship placement and will move on to broader roles in areas like risk management, compliance and proposition development.

The academy, which was launched in April 2015, will welcome the latest new batch this month.