Tenet have announced the start of what it believes is the first paraplanner apprenticeship in the UK, after the launch of the government-backed ‘Trailblazer’ scheme in September 2015.
Ryan Smith began his two-year programme on 25 January, working towards a new level 4 certificate. Successful apprentices will be officially recognised by either the Chartered Insurance Institute or the Institute of Financial Planning.
The initiative creates a benchmark for employees and is the result of a collaboration involving the Department for Business, Innovation & Skills, the employer-led Trailblazer group and a number of professional associations and training bodies.
Independent consultant Marcus Bowsher, who was project leader for the new paraplanner apprenticeships, says the scheme is a great way to develop the professionals of the future.
He said: “Paraplanning is a relatively new discipline, but demand is currently outstripping the supply by some margin. This is a brand new, fit-for-purpose programme designed by employers for employers, to bridge that skills shortage.”
Caroline Bradley, Tenet group finance director, added: “Apprenticeships are a proven way to attract, retain and develop a skilled workforce,” she affirmed. “We are delighted to initiate the new paraplanning qualification and are fully supportive of the re-invigorated apprentice brand concept.”
Tenet has also confirmed the appointment of a level 3 financial services administration apprentice and currently have five others on apprenticeship schemes in IT, customer services, credit control and data analysis.
“As an industry, we struggle to attract new talent,” Bradley added. “New apprenticeships such as this are an unrivalled way for people to develop specialist new skills and learn whilst they earn.”
State apprenticeship reforms were announced in October 2013, initially across eight sectors, including financial services. The government are aiming to double the number of apprentices in place by the end of their term in office, backed by £1.5bn of funding.
