A new Paraplanning trainee scheme is set to start this summer.

The apprenticeship programme is being run by Standard Life’s Financial Planning arm 1825.

It follows on from a Financial Planning traineeship, for which two intakes have already been started.

External recruitment for the scheme will start at the end of March, with a view to starting in July.

The trainee scheme will last for 12 months, with an induction into financial services, generic Paraplanning and a placement at a regional office. They will take the PFS certificate in Paraplanning at the end.

1825 will recruit 7 to 10 trainees on a regional basis.

Marie Calvin, 1825 national academy manager, told Financial Planning Today: “What sometimes underestimated is how valuable a Paraplanner is to a Financial Planner, they play such a crucial role.

“We talked about creating a Paraplanner traineeship on a shorter track, we recognised that it’s a great career for people. We are committed to developing people.”

The firm is also preparing for a third intake of Financial Planning trainees in Autumn. Adverts for this will be out at the end of March.

The first batch began in December 2015 and at the end of two years they will have taken their PFS Financial Planning Diploma.

About 330 people applied to become a Financial Planning trainee on the scheme over two rounds of applications, FP Today reported last year.

Ms Calvin said: “Our goal is to try to show Financial Planning is a brilliant career route for the next generation.

“The key reason we are setting up Financial Planning and Paraplanning traineeships is we know the UK customer demand for professional advice is going to increase. So we are developing next generation of Financial Planning professionals to secure the future of high quality of advice firms.”

Ms Calvin said the firm was also keen to support existing staff by offering them a chance to move into a Paraplanning or Financial Planning role, rather than just recruiting new people for the apprentice scheme.

The business has been promoting internally into these roles.