Growing numbers of wealth advisers are looking to move into mortgage and protection to escape the continuing fallout from the Retail Distribution Review.
Wealth advisors are looking to escape difficulties caused by restrictions on certain advice areas, the capping of management fees and clampdown on commission.
Stonebridge Group, the mortgage and insurance network, says it has seen a growing number of wealth advisers looking to exit wealth management but lacking the necessary experience in order to become successful.
It has launched a series of tailored induction courses specifically aimed at wealth advisers looking to move into new product sectors.
The three-day residential courses will be held twice a month at Stonebridge’s Head Office in Hockley, Essex and aim to give wealth advisers a strong grounding in what it takes to advise successfully in product areas such as mortgages, insurance and protection.
The aim is to get advisers active and up to speed on new product areas in a short space of time.
Stonebridge managing director Richard Adams said:“The wealth advice sector has taken a number of knocks in recent weeks which make the ability of advisers to survive and prosper in their sector increasingly difficult.
"Those advisers who do not have a roster of clients with over £100,000 worth of investable money may need to look elsewhere to secure their futures.
"We are seeing a growing number of wealth advisers who are looking for other options in areas such as mortgage, insurance and protection however having only limited experience in these areas can prove to be an issue.
"Stonebridge has therefore launched a series of induction courses which aim to quickly acclimatise wealth advisers to a new environment and to help them develop their skills in order to become active and successful.
"We will be holding these residential courses at regular intervals over the coming months.”
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