The first candidates have started Openwork’s new ‘Route to Wealth’ programme in London, which will lead them to take the CII Diploma in Regulated Financial Planning, through RO1 to RO6.
Mortgage advisers are being taught skills to move them into the pensions and investment arena to extend their ability to help more clients.
Openwork, the advisory network with 3,500 advisers, unveiled a programme which will support firms to ‘upskill’ mortgage advisers to become qualified wealth advisers, offering holistic Financial Planning.
Openwork, 25% owned by Zurich and the rest by its advisers and employees, says firms and advisers will benefit from “expanded knowledge and career development, an increased ability to service pension and investment needs, and embed value in their business with recurring income.”
The structured training, expected to last just under two years, is provided for nominated candidates with all costs reimbursed by Openwork.
This first intake began the programme in January 2018 and comprises 13 candidates based in London with an average age of 39.
A second intake from in and around Belfast will start the programme in April, with a third, focussing on advisers from the North East of England, scheduled for the end of Q2 2018.
John Cupis, mortgages director at Openwork, said: “Interest from advisers has been high. Many consumers will be introduced to financial advice when they buy their first property with the help of a mortgage adviserw. If that mortgage adviser is able to advise on pensions and investments too, this will provide a continuity of service for clients as their financial needs evolve in later life and into retirement.
“Route to Wealth will go a long way to ensuring that our advisers are equipped to provide holistic advice suitable for the full range of client circumstances and support their clients throughout their lifetime.”
Christopher Grindey, mortgage adviser at Edward Mellor Limited and a candidate in the first Route to Wealth intake, added: “I am excited to be on the Openwork Route to Wealth programme. It is a valuable professional development opportunity that will allow me to offer a fuller range of financial advice and to build my career in this industry.”