Absa handpicks trainee financial advisers

Aspirant financial advisers will join the Absa Adviser Academy in Joburg, where they will embark on a rigourous programme that includes hands-on coaching and mentoring by experienced Absa development managers.

This allows the trainee financial adviser to develop the skills needed to assume the responsibilities expected of a competent financial adviser, while ensuring that he complies with the fit and proper requirements of the Financial Advisory and Intermediary Services Act.

Boost the culture of saving and investment

Izak Smit, managing executive of Absa Distribution, said: "The training will prepare the handpicked individuals to provide informed financial services advice to existing and potential customers and, with it, boost the culture of saving and investment in our country. The academy presents us with an opportunity to grow our pool of talent from grass-roots level to meet the deficiency of critical skills in the financial services sector."

South Africa has a shortage of financial advisers with extensive financial planning skills, knowledge and industry experience. In the wake of the financial crisis, scrutiny has intensified on financial advisers to serve the needs of customers in a responsible manner.

Smit said: "We want our employees to achieve their ambitions in the correct way and make a meaningful contribution to the organisation and our customers. It is through interventions like these, that we can be the go-to bank in Africa."