Wealth manager and Financial Planner Quilter has made the first module free for its Financial Adviser School to open the door to more people to becoming financial advisers.

The company says the training materials for the first unit of the Diploma for Financial Advisers programme are now free and open to everyone.

The module - Financial Service, Regulations and Ethics - is the first of three required to obtain the Level 4 qualification from the London Institute of Banking and Finance, enabling graduates to become a UK financial adviser.

Quilter says it has made the move to encourage more people to consider becoming a financial adviser.

The first module includes 20 hours of pre-recorded video lectures, question banks and reading lists, along with other training materials.

The firm hopes that removing any cost will lower barriers to people considering whether a career in financial advice is right for them.

Scott Stevens, head of adviser recruitment and development, said:  “By offering the training materials for the first module to anyone interested, we hope to generate interest. Whether it’s students, relevant furloughed adults, or just someone with a passing interest, this is an ideal opportunity to use this unexpected period of lockdown as a chance to try something new.

“With an ageing population of financial advisers in the UK so to ensure advice is accessible it is imperative that we welcome new advisers to the profession.

“The Financial Planning profession is set to be resilient through what looks to be a challenging economic period. Although there will undoubtedly be some short term disruption, many people will need to re-appraise their financial plans and will require expert help from a qualified financial adviser.

“Last year 80% of Financial Planning firms reported a growth in client numbers and one in three said turnover was up by 10%, according to data from FE. It shows that the industry has been enjoying strong growth, creating new opportunities for anyone that wants a career in financial services.”

Julian Hince, head of Quilter Financial Adviser School’s training, said: “At FAS we train over 150 students a year and have noticed they all learn slightly differently.

“This is why we have included a wide range of training materials. We are extremely proud of our success rates and, by making our materials free and available to all, we hope that recipients will get off to a flying start.”