“I think the flip then, of hiring graduates, is the exact opposite, which is maybe they haven’t had experience of being in a [work] environment, Monday to Friday. If you hire somebody who’s been doing the job, they’ve kind of learnt some of the ropes.”
While Evelyn Partners is looking to graduates for the next generation of advisers, Sterland’s own route to financial planning was the opposite. Rather than attending university, Sterland started working in the industry when she was 18 as an assistant to a senior private banker.
“I think the industry is trying to become more diverse, and to look at different routes for people to enter into the industry,” says Sterland. “We’re dealing with a very wide range of clients, and therefore it’s really important we have a wide range of colleagues that can interact with clients and their families.”
Sterland likewise aims to have a diverse panel of colleagues interview potential graduate trainees, and not the group’s most experienced planners.
“We’re making sure that the graduates are getting access to some of our ‘mid-tier’ financial planners, so they can see a career path and think, ‘I could see myself being that person in 10 years’, versus maybe someone who’s a bit more experienced, who’s been in the job a bit longer.”
As for what Evelyn Partners will be looking for in candidates, Sterland says that soft skills are a significant factor. “What we need through the programme is for them to develop their ability around soft skills.
“The fact that these individuals are graduates tells us they’ve demonstrated that they can apply themselves and take relevant exams to pass their qualification. So it’s a given that they’ll get through the regulatory exams.
“We’d be looking at the outset to see if somebody is personable, could they have conversations with clients?
“In financial planning, we’re talking to clients about their life goals, objectives, what’s worrying them, what’s stopping them moving forward. And often that is either previous history of dealing with money, or family, and a lot of that is very sensitive.
“So we do need those graduates to be able to flex their style, so they can accommodate different clients. So I think for me, it’s the big piece around soft skills, being able to interact with clients, but also interact through the generations.”
Besides developing their soft skills, graduate trainees at Evelyn Partners will study for the Personal Finance Society’s diploma and work towards becoming a chartered financial planner.
