The Verve Foundation ‘Adviser Incubator’, designed to support new advisers who are looking to set up or grow their own business, has had 71 advisers successfully complete the free programme since its launch in 2023.
In line with one of the aims of The Verve Foundation, to attract a more diverse group of people into the financial advice sector., a quarter of those completing the training are female-led businesses, surpassing the industry average of 16%*.
The Adviser Incubator was set up to support recently authorised firms, including those wanting to run their own business. Its mini programme helps those thinking about going it alone to make the decision on which route to take, and the full programme helps those with authorisation to build their foundations in the early days.
In 2025, its set to offer an additional version of the programme for those looking to grow their business from a one-person firm.
Since launch in Spring 2023, the Adviser Incubator has run seven programmes, with a 100% completion rate for all cohorts.
Hayley Rabbets, Head of the Verve Foundation, said: “We have been blown away by the interest and success of the Adviser Incubator programme since launch, especially the level of interest we’ve had from female advisers.
“One of our aims was to create an inclusive, diverse and supportive space for all and it really feels like we have achieved this with the applicants we are getting.
“With almost two-years under our belts, we are seeing demand for the Incubator continue to grow. We look forward to continuing to see the diversity of the cohorts increase, leading to a far more inclusive profession.”
Supporting the initiative since its pilot, Royal London continues to be the lead partner. Siobhan Barrow, UK Distribution Director at Royal London, added: “We have supported The Verve Foundation since the launch of the Adviser Incubator and have always been impressed by their determination to improve the advice landscape.
“Inclusivity and diversity are challenges for financial services so it’s really positive to see the Incubator attracting a broad range of talent.”
Rebecca Penny, Planit Financial, has completed both the mini and full programme and said of it: “The incubator programmes are like nothing I have come across before in financial services. They give you space, resources and support to scope out what your career can look like. They equip you with the tools, contacts and network to progress from ideas to reality and they do this whilst being genuinely judgement free and inclusive.
“I’m not sure I would have started my own firm had I not come across them, they have given me not only knowledge but confidence and a growing phonebook of like-minded peers to call on when I need to. I will be forever grateful to Hayley and everyone involved.”
*Women’s career progression in the UK financial planning sector (thepfs.org)
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