"In 1988 there were 250,000 advisers operating in the UK, in 2016 there are approximately 25,000."
The NMBA will be launching apprenticeship programmes in financial services advice, administration and para planning from July 2017.
SimplyBiz says the Academy is currently finalising the syllabi content for the three programmes and will shortly be contacting the firms and apprentices who will make up the first intake of students.
Tom Hegarty, Managing Director of the NMBA, commented: "Delighted as I am to have seen an increase in the understanding of the value of professional financial advice over the past few years, there has, unfortunately, been a simultaneous decrease in the number of advisers in the market; in 1988 there were 250,000 advisers operating in the UK, in 2016 there are approximately 25,000.
"However, this isn't just a numbers game, although new blood is desperately needed for the adviser pool, it's imperative that new recruits offer quality, rather than solely quantity. The NMBA's apprenticeship programme was accredited following a lengthy and thorough due diligence process conducted by the SFA, which means that advice firms who select us as the route through which to appoint and train their apprentices can rest assured that the NMBA programme is formally and officially recognised as one of the most prestigious available.
"More than 100 advice firms have already registered their interest in the programme, some will use our service to recruit an apprentice from scratch whereas others have identified a candidate already in their business who will benefit from becoming an apprentice.
"I believe that the NMBA apprenticeship programme has the potential to prove hugely beneficial to the adviser community and, as a result, to consumers."
