Over eight in ten financial advisers would recommend careers in their profession to a friend who has been made redundant due to the Coronavirus pandemic, according to a new poll.

The poll from the Personal Finance Society and Chartered Insurance Institute, conducted in December, showed 178 out of 207 members polled identified financial services as a sector they would recommend entering.

To achieve the Diploma in Regulated Financial Planning cost approximately £1,600 in 2020.

Ofqual calculated it takes roughly 370 hours for a trainee to complete the CII’s Diploma in Regulated Financial Planning qualification.

Keith Richards, chief executive of the Personal Finance Society, said: “Bringing fresh talent into the profession is a key element for securing the financial fortitude of the UK.

“We sit at the precipice of the largest inter-generational wealth transfer since records began and the events of 2020 have shown how important it is to have insurance in place to act as a safety net when things go wrong.

“It is vital we bring a new wave of talented financial advisers into the profession, not just because it benefits them but because it benefits all of society.”