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How St James’s Place can support you to become a Financial Adviser

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I am joined by Gee Foottit to take a deep dive into the St James’s Place Academy and what it takes for you to become a fully-fledged financial adviser.

 

We take a look at how St. James’s Place will support you with your financial planning career journey.

 

*Below is an overview of the full podcast episode which can be found on all major platforms at the bottom of the page.

 

What is a financial adviser?

 

Gee: The role of a financial adviser is to really understand the person sitting in front of you. Gage what is important to them, where they are in their lives and where they want to be in the future. You then explore what the individual’s “now” looks like and figure out how to bridge the gap between the two.

 

So if you think about the roles within the job, you would need to be someone who is good with people and also someone that is rewarded by helping others. However, the role also relies a lot on technical skills, as there are many regulations that an adviser has to follow to give their clients the best advice possible.

 

So why is this the perfect opportunity to get into the profession? To put it simply, there are around 30,000 advisers in the UK at the moment and a huge need for financial advice. To meet those demands, we need to increase the amount of financial advisers coming into the profession.

 

These, along with so many others are the reason it is a brilliant time to get into the profession. We’ve estimated that we need 50,000 advisers to fill the advice gap, and there is no way SJP can do that on its own. So we are excited to be speaking with the Financial Planner Life Academies today, to help promote this fantastic opportunity.

 

St. James’s Place has been a pioneer for financial planning academies, can you tell us a little bit about your success stories so far?

 

Gee: The academy was born in 2012 and since then we have seen the average age of financial planners within SJP is around 46/47 as opposed to the average age nationwide being around 56. This shows us that the academy is working in terms of bringing new people into the profession and giving graduates, as well as second careerists a clear career journey.

 

We’ve had well over 1000 people come through the academy and over 300 people in training right now. This is a really exciting time because as we have financial advisers retiring from the profession, the newly qualified ones can move up the ranks and take over their clients.

 

What’s the qualification route that SJP have chosen and why?

 

Gee: We’ve been working with the Chartered Insurance Institute since we started the academy back in 2012, for us it’s the most widely recognised body within the profession, and we also like the modular approach they take with the exams.

 

Can you tell us a little bit about the company structure at St. James’s Place?

 

Gee: An overview of the SJP structure is that we have 2000 employees, none of whom give financial advice. The advisers sit in the partnership. Our partnership is made up of 2.5 thousand businesses; within those businesses, there are 4.5 thousand people giving advice. Many of these businesses have a team with which only one person gives advice, others may be larger with many advisers within their teams.

 

At St. James’s Place, we really get to know each one of our trainees to get a good idea of what their aspirations are within their career, so we can access how we can support them in meeting their goals and provide many roles within the profession, depending on what is right for that individual.

 

What is the interview process with St. James’s Place?

 

Gee: It’s a very simple process. Firstly we ask for you to write down a statement of interest, who you are, and why you want to join the academy. The next step would be to have a conversation with one of our team, either face-to-face or online. This is really to understand their personal aspirations and where they would like to take their career. Getting a well-rounded and impartial view of the individual. We then support them in coming up with a niche business plan, so they have a clear idea of where they want to take their career journey.

 

SJP invest £60,000 into anyone who comes through the academy, so we need to be vigilant in our selection process. It also helps the applicants make the best decision for them by exploring all avenues, so they can take the next steps of their career with the utmost confidence and support from us, their loved ones and of course themselves!

 

Find out everything you need to know about the selection process by watching this clip:

What does St. James’s Place do to focus on inclusion and diversity?

 

Gee: We work with a lot of affinity partnerships which give us access to a whole variety of people, particularly those who want to join the profession from mixed professional backgrounds, for example, sports or caregivers.

This is an academy that’s open to everyone. The training is predominantly virtual but if you do need to go in for face-to-face training, we have 22 locations across the country which break down traveling barriers for people, making it easy for anyone to become a financial planner.

 

An overview of the terms

 

  • Term 1: Getting qualified – 3 months
  • Term 2: Skills- What else do I need to know to be able to sit down in front of my client? – 3 months
  • Term3: Client-facing and getting to competent adviser status (CAS)  3-6 months
  • Term 4: Becoming sustainable – Finding your niche and building your business – 2-6 months

See the clip below to dig a little deeper into the terms at SJP:

What potential earnings will I make from years 1,2 and 3?

 

Gee: A lot of this is based on the individual but on average we would within the first year, you can expect to make an average of around £40,000.

By year 2 you’re still dealing with existing clients but growing on your client base, so we would expect you to make anything from around £65-£70,000, and hopefully, by year 3, you’ll be earning north of £70,000.

What is great about this profession is that there aren’t any caps on what you can achieve, it is what you make of it.

 

What does my exit strategy look like?

 

Check out the clip below for all you need to know:

What help and support can I get when trying to grow my business?

 

Gee: There are options to gain support with administration or paraplanning when going through the process of becoming a financial adviser.

Within St James’s Place, we have groups of people who are credited by SJP and become employed within practices whom we call practice support staff, or PSS. So you could potentially “buddy up” with someone else going through the academy and share someone who will do your administration, for example.

This could be a great support until you can afford to employ someone yourself in your partner business. It enables you to spend as much time as possible in front of your clients.

We also supply help and mentoring to support things like HR consultancy, legal consultancy, marketing, technical expertise, systems, and IT. Whatever you need to efficiently run your business, that’s what our 2,000 employees are there to take care of for you.

 

Are you looking for your next step and think St James’s Place is the tool to elevate you to the next level? Click here to apply and begin your journey.

 

Check out the full interview with Sam and Gee here:

With particular thanks to Gee Foottit and everyone at St. James’s Place Financial Adviser Academy.

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PRIVACY POLICY

Background: Recruit UK Limited understands that your privacy is important to you and that you care about how your personal data is used. We respect and value the privacy of all our customers and will only collect and use personal data in ways that are described here, and in a way, that is consistent with our obligations and your rights under the law.

1. What Does This Notice Cover?

This Privacy Information explains how we use your personal data: How it is collected, how it is held, and how it is processed. It also explains your rights under the law relating to your personal data.

2. What is Personal Data?

Personal data is defined by the General Data Protection Regulation (EU Regulation 2016/679) (the “GDPR”) as ‘any information relating to an identifiable person who can be directly or indirectly identified in particular by reference to an identifier’. Personal data is, in simpler terms, any information about you that enables you to be identified. Personal data covers obvious information such as your name and contact details, but it also covers less obvious information such as identification numbers, electronic location data, and other online identifiers.

3. What Are My Rights?

Under the GDPR, you have the following rights, which we will always work to uphold:

a) The right to be informed about our collection and use of your personal data. This Privacy Notice should tell you everything you need to know, but you can always contact us to find out more or to ask any questions.

b) The right to access the personal data we hold about you.
c) The right to have your personal data rectified if any of your personal data held by us is inaccurate or incomplete.
d) The right to be forgotten, i.e. the right to ask us to delete or otherwise dispose of any of your personal data that we have.
e) The right to restrict (i.e. prevent) the processing of your personal data.
f) The right to object to us using your personal data for a particular purpose or purposes.

g) The right to data portability: This means that if you have provided personal data to us directly, we are using it with your consent or for the performance of a contract, and that data is processed using automated means. You can ask us for a copy of that personal data to re-use with another service or business in many cases.

h) Rights relating to automated decision-making and profiling: We do not use your personal data in this way

i) For more information about our use of your personal data or exercising your rights as outlined above. Further information about your rights can also be obtained from the Information Commissioner’s Office or your local Citizens Advice Bureau. If you have any cause for complaint about our use of your personal data, you have the right to lodge a complaint with the Information Commissioner’s Office.

4. What Personal Data Do We Collect?

We may collect some or all the following personal data (this may vary according to your relationship with us):

  • Name;
  • Address;
  • Email address;
  • Telephone number;
  • Business name;
  • Job title;
  • Profession;
  • Information about your preferences and interests

5. How Do You Use My Personal Data?

Under the GDPR, we must always have a lawful basis for using personal data. This may be because the data is necessary for our performance of a contract with you, because you have consented to our use of your personal data, or because it is in our legitimate business interests to use it. Your personal data will be used for or may be used for one of the following purposes:

  • Providing and managing your account.
  • Supplying our services to you. Your personal details are required in order for us to enter into a contract with you.
  • Personalising and tailoring our services for you.
  • Communicating with you. This may include responding to emails or calls from you.
  • Supplying you with information by email and/or post that you have opted-in to (you may unsubscribe or opt-out at any time by emailing [email protected].

With your permission and/or where permitted by law, we may also use your personal data for marketing purposes, which may include contacting you by email and/or telephone and /or text message and/or post with information, news, and offers on our services. We will always work to fully protect your rights and comply with our obligations under the GDPR and the Privacy and Electronic Communications (EC Directive) Regulations 2003, and you will always have the opportunity to opt out.

6. How Long Will You Keep My Personal Data?

Due to the nature of recruitment, a significant number of candidates reconnect with our organisation periodically. It is not uncommon for this to occur years after we have placed them in a role. For this reason, your consent includes explicit consent to retain your personal details until you wish us to delete your records from our database or refrain from further engagement.

7. How and Where Do You Store or Transfer My Personal Data?

We will only store or transfer your personal data in the UK or elsewhere in the EU. This means that it will be fully protected under the GDPR.

  • We store all data in specific company applications unique to us
  • All application access is via secure password or biometric control
  • In line with our Data Retention Policy, your data is deleted once

a) we no longer have a relevant use for it
b) it has passed the relevant expiry date

8. Do You Share My Personal Data?

We will not share any of your personal data with any third parties for any purposes, subject to one important exception. In some limited circumstances, we may be legally required to share certain personal data, which
might include yours, if we are involved in legal proceedings or complying with legal obligations, a court order, or the instructions of a government authority.

If any of your personal data is required by a third party, as described above, we will take steps to ensure that your personal data is handled safely, securely, and in accordance with your rights, our obligations, and the third party’s obligations under the law.

9. How Can I Access My Personal Data?

If you want to know what personal data we have about you, you can ask us for details of that personal data and for a copy of it (where any such personal data is held). This is known as a “subject access request”.All subject access requests should be made in writing and sent to the email or postal addresses shown below.

There is not normally any charge for a subject access request. If your request is ‘manifestly unfounded or excessive’ (for example, if you make repetitive requests) a fee may be charged to cover our administrative costs in responding.

We will respond to your subject access request within 14 days and, in any case, not more than one month of receiving it. Normally, we aim to provide a complete response, including a copy of your personal data within that time. In some cases, however, particularly if your request is more complex, more time may be required up to a maximum of three months from the date we receive your request.

You will be kept fully informed of our progress.

10. Contact details

Contact us at [email protected]
Alternatively, you can contact us by writing to us at:
GDPR Compliance Officer
Recruit UK Limited
Newminster House
27-29 Baldwin Street
Bristol
BS1 1LT

11. Complaints procedure

If you have a complaint about the way your data is stored or handled by Recruit UK Limited, please
contact us at [email protected]
Alternatively, you can contact us by writing to us at:
GDPR Compliance Officer
Recruit UK Limited
Newminster House
27-29 Baldwin Street
Bristol
BS1 1LT

Escalated Complaints
If you remain unhappy with the handling of your data, you can complain to the ICO.
Information Commissioner’s Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF

12. Changes to this Privacy Notice
We may change this Privacy Notice from time to time. This may be necessary, for example, if the law
changes, or if we change our business in a way that affects personal data protection.
Any changes will be made available on our website recruitukltd.co.uk

DIVERSITY POLICY

Inclusivity and fairness are of paramount importance to us. Recruit UK embraces equality, diversity and inclusion and will seek to promote their benefits in all of its business activities. We will further develop our business culture to encourage, value and manage that belief. 

We intend to eliminate discrimination and encourage diversity amongst our workforce. Our aim is that our employees will be truly representative of all sections of society and each person feels respected and able to give their best.

Our policy purpose:

Not unlawfully discriminate because of the Equality Act 2010 protected characteristics of:

  • age
  • disability
  • gender reassignment
  • marriage or civil partnership
  • pregnancy and maternity
  • race (including colour, nationality, and ethnic or national origin)
  • religion or belief
  • sex
  • sexual orientation

 

Oppose and avoid all forms of unlawful discrimination. This includes:

  • pay and benefits
  • terms and conditions of employment
  • dealing with grievances and discipline
  • dismissal
  • redundancy
  • leave for parents
  • requests for flexible working
  • selection for employment, promotion, training or other developmental opportunities

 

Who is responsible for equal opportunities?

Achieving an equal opportunities workplace is a collective task shared between the employer and all its staff. This policy and the rules contained in it, therefore, apply to all staff of the employer irrespective of seniority, tenure and working house, including all employees, directors,

consultants, trainees, homeworkers and fixed-term staff and any volunteers or interns (referred to as staff).

All staff have a personal responsibility to ensure compliance with this policy, to always treat colleagues with dignity, and not to discriminate against or harass other members of staff, visitors, clients, customers, suppliers and former Recruit UK, employees.

Managers and Directors must take all necessary steps to:

  • Promote the objective of equal opportunities and the values set out in this policy.
  • Ensure that their own behaviour and those of the staff then manage complies in full with this policy;
  • Ensure that any complaints of discrimination, victimisation, or harassment (including against themselves) are dealt with appropriately and are not suppressed or disregarded.

Our Commitments

  1. Encourage equality, diversity and inclusion in the workplace.

  2. Create a working environment free of bullying, harassment, victimisation, and unlawful discrimination, promoting dignity and respect for all, and where individual differences and the contributions of all staff are recognised and valued.

    This commitment includes training managers and all other employees about their rights and responsibilities under the equality, diversity, and inclusion policy. Responsibilities include staff conducting themselves to help the organisation provide equal opportunities in employment, and prevent bullying, harassment, victimisation, and unlawful discrimination.

    All staff should understand they, as well as their employer, can be held liable for acts of bullying, harassment, victimisation, and unlawful discrimination, in the course of their employment, against fellow employees, customers, suppliers and the public.

  3. Take seriously complaints of bullying, harassment, victimisation and unlawful discrimination by fellow employees, customers, suppliers, visitors, the public and any others during the organisation’s work activities.

    Such acts will be dealt with as misconduct under the organisation’s grievance and/or disciplinary procedures, and appropriate action will be taken. Particularly serious complaints could amount to gross misconduct and lead to dismissal without notice.

    Further, sexual harassment may amount to both an employment rights matter and a criminal matter, such as in sexual assault allegations. In addition, harassment under the Protection from Harassment Act 1997 – which is not limited to circumstances where harassment relates to a protected characteristic – is a criminal offence.

  4. Make opportunities for training, development, and progress available to all staff, who will be helped and encouraged to develop their full potential, so their talents and resources can be fully utilised to maximise the efficiency of the organisation.

  5. Review employment practices and procedures when necessary to ensure fairness, and also update them and the policy to take account of changes in the law.

  6. Monitor the make-up of the workforce regarding information such as age, sex, ethnic background, sexual orientation, religion or belief, and disability in encouraging equality, diversity and inclusion, and in meeting the aims and commitments set out in the equality, diversity and inclusion policy.

    Monitoring will also include assessing how the equality, diversity and inclusion policy, and any supporting action plan, are working in practice, reviewing them annually, and considering and taking action to address any issues.

Agreement to follow this policy

The equality, diversity and inclusion policy is fully supported by senior management at Recruit UK.

Details of Recruit UK’s grievance and disciplinary policies and procedures can be found in the employee’s handbook. This includes with whom an employee should raise a grievance – usually their line manager.

Use of the organisation’s grievance or disciplinary procedures does not affect an employee’s right to make a claim to an employment tribunal within three months of the alleged discrimination.

Achieve your career goals

Once you have the knowledge, soft skills, practical skills, and qualifications needed for pursuing a career in Financial Planning, we will provide you with guidance toward a suitable path to follow to achieve your career goals.
 
You can confidently apply for job opportunities with a high-quality CV knowing exactly where you sit within the market with inside intel about salary expectations, buzzwords for specific leading firms and referrals from experts you will meet along the way. You will also have the opportunity to utilize the Financial Planner Life recruitment services, giving you further specialized advice and putting you forward for roles which align with your intrinsic values and career goals.
 
Don’t put it on hold, join the community today and discover your potential.
[Join]

Discover your path.

We understand that there isn’t a one size fits all approach to a career in financial planning, which is why we are here to make sure that you’re taking the right route into the profession.
 
We’ve calmed the process down so you can stay within your current company, start studying towards your qualifications and begin to get a real understanding of what the landscape of financial planning looks like in respect of your career.
 
Whether you have aspirations of being an employed adviser, running your own business or doing a more back-office focused role such as compliance, we can help guide and support you down the right path, matching your experience, your network and your intrinsic values.

Uncover your potential.

It starts with taking your qualifications and what we do within the community is support you to pass your qualifications first time. The Financial Planner Life community is all about supporting people’s different learning styles and taking into consideration life’s commitments such as finances, family and existing employment.
 
We believe in offering a personalised learning experience, which is why our program includes study support for industry-recognised exams. Our aim is to ensure that you are well-prepared to pass exams such as the CII-regulated diploma in financial advice, the CII Certificate in Mortgage Advice and the CII Certificate in Paraplanning.
 
Train to become a financial planner with the use of online resources, networking within the community with well-established professionals as well as frequent webinars and Q&As with Sam Oakes and industry-leading professional guests.
 
[Download the full academy prospectus here]

Connect with the Community

Welcome to the Financial Planner Life Academy where well-being, honesty and transparency are at the heart of what we do.
 
We’re here to support you on your journey into a career within the financial planning profession. Whether that’s administration, paraplanning, financial advice or even mortgage advice. Our expert trainers and community will support and educate you and train you to A, pass your qualifications and B, make the right decision about your first employment in the financial planning profession.
 
It could be going down the route of being restricted, or becoming an IFA, you may even have aspirations of running your own business! But what does that look like?
 
We understand that from the outside looking in, it can be daunting to find the correct route into the profession to become a financial planner. The Financial Planner Life Academy is completely independent, allowing you to connect with hundreds of financial planning professionals with different backgrounds, at all levels of experience.
 
You will learn all about the different options you can take, mentored by a diverse mix of professionals so you are equipped with the essential toolkit to be able to make an informed decision about your career path within financial planning.

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