The first four trainee advisers have started a 24-month programme and, if successful, will receive a Diploma in Financial Planning.

Two of the participants are ex-services personnel while the others are an entrepreneur and an ex-motoring sector professional.

During their training they will acquire new technical and people skills and develop their Financial Planning knowledge.

The two-year programme began last week and is designed to “nurture” existing talent and engage with aspiring Financial Planners looking to start or switch careers into the wealth sector, Kingswood said.

The candidates have a 13-week rotation in wealth planning and will shadow a wealth planner during this period.  

They will also participate in external and internal training sessions and be given study time to study and pass their examinations during the programme.

The selection process involved an initial interview with Linda Tottem, vice president, HR - talent acquisition, then a numerical test, followed by an interview with Leigh Philpot, head of wealth management in London, and Charlie Gillespie, management director in Sheffield.

Mr Philpot said: “The Kingswood Academy is not only an important initiative for our people and clients, but it will be pivotal in organically growing our business over the long-term. This new generation of advisers will most importantly speak the same language as a new generation of clients.

“With a new generation of bright and motivated advisers coming through, there is less risk of clients becoming orphaned because their adviser has retired or left the industry.”

Kingswood is an AIM-listed wealth management group with 16,000 clients and £4.8 billion of Assets under Advice and Management. It has offices around the UK and also in South Africa and the US.