Pareto Financial Planning is expanding its in-house training programme to help up-and-coming advisers accelerate their careers.

The Manchester-based advisory firm launched a trial of the scheme last year under the stewardship of director Paul Stones, with the aim of nurturing talent from within to support growth.

Anthony Bruchez was the first to come through the ranks and the latest to be inducted are Dafydd Parry and James Hogg.

Mr Parry has been a Paraplanner for six years, including for the last three at Pareto, while Mr Hogg, an economics graduate, gained two years’ phone-based financial advisory experience before joining the programme.

Pareto advises individual and corporate clients on all aspects of Financial Planning, including pensions, investments, protection and employee benefits.

The firm, which is celebrating a decade in business this year, grew turnover by 18% to £4.85m in its latest financial year.

Funds under influence increased by more than £130m to over £600m.

Pareto’s adviser programme runs for up to 18 months and the scheme aims to give participants client-facing advisory experience and a grounding in the firm’s “client-first approach.”

At first, they conduct client meetings under supervision and, after a few months, are able to advise unaccompanied while working in Pareto’s servicing department, with support from senior members of staff.

After 18 months’ experience and exposure to a variety of cases, they move into one of Pareto’s accountancy firm partners to provide their clients with a Financial Planning service.

Mr Stones said: “We need to expand our team of advisers to support a growing client base, and this initiative means we are able to nurture our own talent and mould them into how we want them to operate as fully-fledged financial advisers, while simultaneously enabling them to develop relationships and build their own client portfolios.”

“He said the traditional training route for independent financial advisers – usually working at a bank or large firm – means they often fail to gain exposure to clients or a guaranteed role afterwards.”

He added: “Our programme offers advisers the opportunity to work with a well-established client base from the outset.

“It’s not a case of ‘who do you know?’ or ‘cold-calling’.

“They gain much-needed, face-to-face advisory experience, gearing them up for long and successful careers at Pareto.”