Ready for a career change? Ask SJP about financial advice – £200 voucher to be won

[geemumsnet]

Hello everyone!

We're delighted to welcome Louise McMahon, Siobhan Sammon and Megan Cheyne, Academy Recruitment Managers at St. James's Place (SJP), who'll be here answering your questions about careers in financial advice.

Whether you're considering a career change, thinking about returning to work after having children or wanting to build your skillset in a new industry, this is your opportunity to ask your questions.

56% of wealth transferred by 2048 is projected to be inherited by women, but they remain underrepresented in the financial industry; only 18% of regulated financial advisers are female*. St. James's Place is passionate about encouraging more women into financial advice and is helping to break down some of the misconceptions about starting a finance career.

Many people assume that working in finance means you need years of experience, a degree in economics or to be brilliant at maths, but that's often not the case.

Whether you’re ready for a new challenge or returning to work, the Academy offers a clear path into advice. It’s designed to help you build a career with purpose, flexibility, and the chance to make a real difference.

Through the St. James's Place Financial Adviser Academy, women can retrain, return to work or build a completely new career with a fully funded training programme leading to a Level 4 Diploma in Regulated Financial Planning.

The Academy is designed to be flexible and provides support throughout the journey, from studying for qualifications through to becoming a practising financial adviser.

The experts are here to answer your questions about:

• What it's really like to be a financial adviser
• The skills needed to succeed
• Flexible working and balancing family life
• The St. James's Place Financial Adviser Academy
• Career progression, earning potential and day-to-day life in the role

Perhaps you've wondered...

• Is financial advice a good career for parents?
• What does a typical day look like?
• What kind of person makes a good financial adviser?
• What support would I receive during training?
• What's the earning potential?
• Am I too old to retrain?

Whatever you're curious about, no question is too big or too small.

Aboout the team

Louise McMahon: Louise is an Academy Recruitment Manager at St James's Place, helping people from a variety of backgrounds transition into rewarding careers in financial advice. A mum of two boys, now 18 and 16, she remembers how challenging the early years of motherhood could be when trying to focus on her own career. Louise is passionate about meeting women considering a career change or return to work and exploring what financial advice could offer.

Megan Cheyne: Megan is an Academy Recruitment Manager at St. James's Place, helping people explore careers in financial advice. After 12 years in the automotive industry, she made a big career pivot herself and understands first-hand how daunting a career change can feel. As a busy mum of three, Megan is passionate about helping women build rewarding, flexible careers that fit around family life.

Siobhan Sammon: Siobhan is an Academy Recruitment Manager at St James's Place. A mum of 2, she understands the challenges of balancing motherhood, work, family life & ambitions. She is passionate about helping more women, particularly mums, discover opportunities within financial services. Her mission is to show women that becoming a mum doesn't mean putting your ambitions on hold; you can still build a successful career and
show your family that it's important to pursue your dreams.

The team will be answering questions from 21st Septemeber until 28th September, so post your questions below and they'll answer as many as they can.

We're looking forward to hearing from you!

• World Wealth Report June 2025, Capgemini World Wealth Report 2025
  ** Understanding the advice market: financial advice firms survey 2025, Financial Conduct Authority, April 2026

There are lots of positives to a career in financial advice. For many people, one of the biggest is doing meaningful work and building long-term relationships with clients, helping them make important decisions and achieve their financial goals.

The career can also offer flexibility and autonomy. While both the Academy and the role require a full-time commitment, there can be considerable flexibility in how you manage your diary and work with your clients.

There’s also the opportunity to build a career where your efforts can be reflected in your rewards. As an adviser, that could mean developing your client base, progressing your career and increasing your earning potential. Over time, there may also be opportunities to take an ownership stake in a Practice.

For those who choose to start their own Practice, there’s the additional opportunity to build a business with long-term capital value, while having greater control over how you develop it.

It’s important to be realistic that getting established takes hard work. Everyone faces different challenges when starting out, and building a new business can be particularly demanding in the early years. That’s why the support provided throughout the Academy and beyond is so important.

If those are the things you’re looking for from your next career, a good first step is to watch our on-demand Discover the Academy event to understand more about the opportunity:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

There can be real flexibility in a career as a financial adviser, which is one of the reasons the profession can work well for parents and people with caring responsibilities.

Once qualified, how you structure your working day will depend on the route you take, the Practice you join and the needs of your clients. If you start your own Practice, you’ll have greater autonomy over your diary and how you organise your working week. Many client conversations can also take place virtually, although there will be times when meeting clients in person is important.

It’s important to be clear, however, that the Academy requires a full-time commitment. Term 1 is three months and fully virtual, which provides some flexibility around how you organise your study. Term 2 is nine weeks, including nine days of in-person workshops at our Bristol office, with the remaining training and support delivered virtually or locally.

We know that everyone’s circumstances are different, particularly when balancing a career change with family life, so we encourage you to talk to our team about your individual circumstances and the support available.

A good first step is to watch our on-demand Discover the Academy event, where you can find out more about the programme, flexibility and what a career as a financial adviser could look like:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

Yes. Professional Indemnity insurance is standard for financial advisers, but there is additional protection within SJP through our Advice Guarantee.

The Advice Guarantee is there to protect both clients and advisers. If an issue relating to advice needs to be reviewed at a later date, SJP stands behind the advice and manages that process. The existence of this guarantee also helps keep Professional Indemnity insurance costs lower for our advisers.

If you choose to start your own Practice through the Academy, the programme also provides financial support towards business costs during your first year, helping you get established.

A good first step is to watch our on-demand Discover the Academy event to understand more about the programme, the support available and what becoming an adviser involves:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

No, you don’t need extensive financial knowledge or previous financial services experience to start. The Academy is specifically designed to give you the technical knowledge, professional qualifications and practical skills you need to become a financial adviser.

People join us from a really broad range of backgrounds. Academy participants have come from more than 25 different professions, and in 2025, 45% of those joining came from outside financial services.

What’s important is the experience and transferable skills you already bring, together with the willingness and commitment to learn something new. We’ll help you build the technical knowledge from there.

A good first step is to watch our on-demand Discover the Academy event, where you can find out more about the training, qualifications and support available:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

The Academy takes you through the qualifications and practical experience needed to become a financial adviser, with different milestones along the way.

If you choose to complete your qualifications with us, there are six exams in total. You’ll sit two before starting the Academy, three during Term 1 and the final exam during Term 2. This means you can achieve your Level 4 Diploma in Financial Planning early in your Academy journey.

But becoming an adviser is about more than passing exams. Term 2 focuses on developing the practical skills and confidence to put your knowledge into practice. After Term 2, you can begin working with clients under supervision, while continuing your development.

You then work towards Competent Adviser Status, which is typically achieved at the end of Term 3, around 12 months into the journey.

The Academy provides 18 months of high-touch support overall, so your development and support continue beyond reaching Competent Adviser Status.

A good first step is to watch our on-demand Discover the Academy event, where we explain the programme, qualifications and journey into financial advice in more detail:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

There is no upper age limit for joining the Academy, and at 46 you certainly wouldn’t be unusual in considering financial advice as a new career. We welcome people at different stages of their careers and from a wide range of professional backgrounds.

You also don’t need previous financial services experience. In 2025, 45% of people joining the Academy came from outside financial services, so we place real value on the transferable skills and experience people have built in their previous careers.

Because becoming a financial adviser involves a significant investment in training, professional qualifications and building a new career, we generally recommend that people joining intend to continue working for at least another 10 years.

And yes, there is financial support while you train. If you take the self-employed route, financial support starts from Term 1, with £2,000 per month during Terms 1 and 2 and further support available as you progress through the Academy. If you join an existing SJP Practice, employed and self-employed opportunities are available, with the individual Practice determining the contract and remuneration.

A good first step is to watch our on-demand Discover the Academy event, where you can find out more about the training, financial support and different routes into the profession:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

There can be real flexibility in a career as a financial adviser, which can work well for people balancing work with family or caring responsibilities. However, it’s important to be clear that the Academy requires a full-time commitment.

Term 1 is three months and fully virtual, which provides some flexibility around how you organise your study. Term 2 is nine weeks, including nine days of in-person workshops at our Bristol office, with the remaining training and support delivered virtually or locally.

Once you’re working as an adviser, how you structure your working day will depend on the route you take, the Practice you join and the needs of your clients. If you start your own Practice, you’ll have greater autonomy over your diary. Many client meetings can also take place virtually, although there will be times when meeting clients in person is important.

We know every family’s circumstances are different, so we encourage people to discuss their individual needs with our team and understand how the programme and career could work for them.

A good first step is to watch our on-demand Discover the Academy event, which explains the programme, support and different career pathways in more detail:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

Thank you for your question.

Your background could bring lots of valuable transferable skills into financial advice. You don’t need a finance degree or previous financial services experience. Skills such as analysis, critical thinking, communicating complex information clearly and building relationships can all be really valuable, and we teach the technical side.

The Academy itself is a full-time commitment, so it isn’t designed to be completed alongside a full-time job. However, there is another option that may be worth exploring in your circumstances. You could self-study towards your Level 4 Diploma while continuing to work, then potentially join the Academy at Term 2. This can reduce both your time in full-time training and the period of reduced income.

In terms of cost, there is some initial financial commitment. You would need to fund two exams before joining the programme, but those exam costs are refunded when you successfully complete the training. There are a further four exams during the programme, and SJP pays for the first sitting and, if needed, a final sitting for each exam. We’re proud that our first-time pass rate is over 85%, compared with around 67% outside the Academy.

For those pursuing the self-employed route, there is financial support while you train and establish yourself. This includes £2,000 per month during Terms 1 and 2. By Term 3, you’re client-facing and able to start generating revenue from the advice you provide, with additional support to help with cash flow while you begin building your client base.

There are also opportunities to pursue an employed route, where starting salaries are typically around £30,000 to £40,000.

Whichever route you choose, it’s important to have realistic expectations. The first couple of years can be challenging while you establish yourself, build experience and develop client relationships. Longer term, however, the earning potential can be significant. It is realistic for an established financial adviser to earn around £100,000, but it takes time, commitment and experience to build to that level.

We also want to be transparent that SJP makes a significant investment in your training. There is a three-year restriction after completing the programme, with a £10,000 payment applicable if you leave to work as a financial adviser elsewhere during that period.

Given that you’re currently working full time and already have a strong academic and analytical background, our Discover event would be a great next step to understand the different routes and decide whether the career and the Academy could be right for you: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

Yes, there can be considerable flexibility in how you structure your working week, although this depends on the route you take. If you’re self-employed or running your own Practice, you’ll generally have greater autonomy over your diary. If you join a Practice as an employed adviser, your working arrangements will depend on that individual Practice.

It’s important to remember that financial advice is an ongoing professional career, so keeping your knowledge and skills up to date is part of the role. Rather than having a set number of “INSET days”, continuing professional development (CPD) and ongoing learning are built into the SJP environment.

You’re also not expected to keep on top of changing markets, products and regulation alone. Advisers have access to specialist support, ongoing development and resources to help them stay informed and continue developing throughout their careers.

So there is flexibility around how you work, but maintaining your professional knowledge and development remains an important part of being an adviser.

A good first step is to watch our on-demand Discover the Academy event, where you can find out more about the role, training and ongoing support available:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

It may be more achievable than you think. You don’t need previous financial services experience to join the Academy, and we welcome people making a career change from a wide range of backgrounds.

We look at the transferable skills and experience you already have, alongside qualities such as your ability to build relationships, willingness to learn, resilience and integrity. In fact, in 2025, 45% of people joining the Academy came from outside financial services.

We also recognise that stopping work to retrain simply isn’t financially realistic for many people. The Academy is funded and there are different routes with financial support or earnings available while you train.

If you’re planning to start your own Practice, you’ll take the self-employed route, with financial support starting from Term 1. This includes £2,000 per month during Terms 1 and 2, with further financial support available as you progress.

Alternatively, you could join an existing SJP Practice. There are employed and self-employed opportunities, depending on the Practice. For employed adviser roles, starting basic salaries are typically around £30,000 to £40,000, often with a bonus structure on top, with the exact package set by the individual Practice.

It is a significant career change and the Academy requires a full-time commitment, so it’s important to look at the different routes and understand which could work best for your circumstances.

A good first step is to watch our on-demand Discover the Academy event, where you can find out more about the training, financial support and different ways to build a career in financial advice:

Watch the Discover the Academy event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

Yes, there’s no upper age limit, and we see people join the Academy at many different stages of their working lives.

What’s more important is that you’re looking to make a meaningful career change and have the intention to work for at least 10 years after qualifying. The life and career experience you’ve built up by your late 50s can also bring really valuable transferable skills, particularly when it comes to building relationships, listening and understanding people’s needs.

You don’t need previous financial services experience either.

The Academy gives you the technical knowledge, qualifications and practical skills you need.
If you’d like to hear from someone who has made a similar change, have a listen to our podcast with Adele, who started her journey in her 50s and shares her experience of changing career.

It might help you picture what making that change could look like for you. Our Discover event provides an overview of the programme: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

Thank you for your question.

Your background could bring lots of valuable transferable skills into financial advice. You don’t need a finance degree or previous financial services experience. Skills such as analysis, critical thinking, communicating complex information clearly and building relationships can all be really valuable, and we teach the technical side.

The Academy itself is a full-time commitment, so it isn’t designed to be completed alongside a full-time job. However, there is another option that may be worth exploring in your circumstances. You could self-study towards your Level 4 Diploma while continuing to work, then potentially join the Academy at Term 2. This can reduce both your time in full-time training and the period of reduced income.

In terms of cost, there is some initial financial commitment. You would need to fund two exams before joining the programme, but those exam costs are refunded when you successfully complete the training. There are a further four exams during the programme, and SJP pays for the first sitting and, if needed, a final sitting for each exam. We’re proud that our first-time pass rate is over 85%, compared with around 67% outside the Academy.

For those pursuing the self-employed route, there is financial support while you train and establish yourself. This includes £2,000 per month during Terms 1 and 2. By Term 3, you’re client-facing and able to start generating revenue from the advice you provide, with additional support to help with cash flow while you begin building your client base.

There are also opportunities to pursue an employed route, where starting salaries are typically around £30,000 to £40,000.

Whichever route you choose, it’s important to have realistic expectations. The first couple of years can be challenging while you establish yourself, build experience and develop client relationships. Longer term, however, the earning potential can be significant. It is realistic for an established financial adviser to earn around £100,000, but it takes time, commitment and experience to build to that level.

We also want to be transparent that SJP makes a significant investment in your training. There is a three-year restriction after completing the programme, with a £10,000 payment applicable if you leave to work as a financial adviser elsewhere during that period.

Given that you’re currently working full time and already have a strong academic and analytical background, our Discover event would be a great next step to understand the different routes and decide whether the career and the Academy could be right for you: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

Thank you for your question. Given that you already hold a Level 4 Diploma in Financial Planning and have continued working within financial planning operations and technology, your starting point may be different from someone entering the profession without previous qualifications or experience.

We’d want to understand a little more about your qualification, how long you’ve been away from practising and your recent experience to determine the most appropriate entry point and any training you would need.

The important thing to be aware of is that the Academy programme is a full-time commitment and isn’t designed to be completed part time.

With your existing Level 4 qualification and industry experience, I’d encourage you to speak to our Academy team about your individual circumstances, as you may not need to follow the full programme from the beginning. You can arrange an informal conversation by filling on our form here: https://www.sjp.co.uk/academy/how-to-apply/apply-now?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=apply-now-form

Thank you for your question. There isn’t a simple minimum or maximum salary, as it depends on whether you choose an employed or self-employed route, and earnings develop as you become established.

On the employed route, starting salaries are typically around £30,000–£40,000. On the self-employed route, your earnings are linked to the advice you provide and the client base you build. It’s realistic for an established financial adviser to earn around £100,000, although it takes time, commitment and experience to build to that level, and there isn’t a fixed maximum.

The first couple of years can be challenging as you establish yourself, develop your experience and build client relationships, so it’s important to consider the financial transition as part of any career change.

It can absolutely be a secondary career and lifestyle change. We welcome people with experience from other careers, and many of the skills you’ve developed along the way, such as relationship-building, communication, empathy and resilience, can transfer really well into financial advice. You don’t need previous financial services experience, as the Academy teaches you the technical knowledge and skills you need.

If you’re considering making the change, our Discover event is a good place to understand the career, the training and the different routes available before deciding whether it’s right for you: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

Thank you for sharing, that’s a really helpful recommendation for anyone interested in exploring the career further.

We also have an Academy overview podcast, and which gives an insight into the programme at St. James's Place.

And if you’re interested in hearing more, our latest Financial Planner Life podcast Academy overview episode is due for release on 2 October.

People skills are really important in financial advice. You don’t need to come into the profession with extensive financial knowledge or previous financial services experience, as the technical knowledge, qualifications and practical skills can be taught through the Academy.

What’s harder to teach are the personal qualities that help someone become a great adviser. We often talk about PRIDE: Personal Impact, Resilience, Integrity, Drive and Empathy. Being able to listen, build relationships, understand what matters to people and explain things clearly are all really valuable skills.

If you’re considering a career change, you may already have many of these transferable skills from your current career and life experience. The Academy is there to help you build the technical knowledge and confidence around them.

Our Discover event is a great place to start if you’d like to learn more about the training and what the career involves: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

It’s an understandable image of the finance world, but financial advice looks quite different. Advisers are based in communities right across the UK, helping individuals and families with their financial plans.

Our Academy is a locationless programme, designed to be accessible wherever you’re based in the UK, and our wider Partnership includes around 5,000 advisers across the country.

So you certainly don’t need to live in London or commute to a shiny skyscraper to build a career in financial advice. In fact, being part of and building relationships within your local community can be a real strength.

If you’re interested, our Discover event is a great way to find out more about how the Academy works and the opportunities available.

https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

Yes, there is flexibility, but there’s also an element of working around your clients and when they are available. Once you’re established, you have a good degree of autonomy over where and when you work and how you manage your diary.
That doesn’t necessarily mean working evenings and weekends.

There’s no one-size-fits-all approach.

We have advisers who structure their working week around their family and childcare while still making sure they’re there when their clients need them.

Here’s a great short video from Zohul, who talks about how she has made the career work around her family without working evenings. It’s a really useful example of what that flexibility can look like in practice.

If you would like to know more, you can watch our Discover event: https://www.sjp.co.uk/academy/events/discover-st-jamess-place-financial-adviser-academy-event-virtual?utm_source=Mumsnet&utm_medium=Social&utm_campaign=Female-campaign&utm_content=OpenEvening

How long can the course be completed and is it easy to find work after qualifying?

@MeganSJPExpert and @SiobhanSJPExpert I have missed your stated deadline but in case you are still around on this thread, can you send a link to the set of products that are available for your clients, and also some documentation that communicates the overall all-in fees that clients would pay, including advice fees, entry/exit fees, custody fees, and product fees?

I am a retired institutional investor with a self-managed portfolio in lieu of a pension. The task also includes working out how much I can afford to spend and working out how to limit the tax burden without doing anything dodgy.
I have often thought that perhaps I could do for others at least some of what I am already doing for myself. I would therefore consider becoming a part-time self-employed Financial Advisor, but only if the fees my clients would have to pay seem reasonable to me. I do have numerous friends who have asked me from time to time to give them some advice, but due to the legal / regulatory burden, I cannot help them, unless I affiliate with a firm.

I have never considered SJP in the past, based on my assumption that the fees I would need to charge in any sort of SJP partnership would be excessive. But in fairness, I also have not researched that, at least not recently. So, in case the SJP fee structure has now gotten to a level that I would regard as fair, I would consider working with SJP.

Well, they have given a good amount of information and highlighted different routes.

It’s not for me personally (I am just here out of interest) but I think the opportunity to take the L4 qualification via the Academy and then progress into an advisory role is quite attractive. But anyone signing up needs to be clear on what the ultimate role entails.

Is there more work from home opportunities in recent years? Juggling mum like and work life is getting harder and harder...

Thank you ! You've brightened my day and made me feel 'I can do this'