Bid to recruit youth
THERE are thousands of students in South Africa who are still uncertain about what they will be doing in the future once they graduate.
Given that youth unemployment stands at 46,3%, and the rate was 9.3% among university graduates, this is worrisome.
With this in mind, Momentum recently announced the launch of its new Momentum Institute of Financial Planning. The aim is to upskill Momentum’s financial advisers and provide them with knowledge and practical application to further increase the value they offer to their clients.
Aubrey Faba, red channel director at Momentum Financial Planning, says this new institute is aimed at recruiting more young people to the financial services industry.
“South Africa’s financial sector is supposedly losing its grip over graduates. Fewer young people are choosing to pursue careers in financial services, which is why it’s vital to find ways of attracting a new generation of financial planners and financial advisers.”
Faba says the Momentum Institute of Financial Planning provides training for new graduates to become professional financial advisers.
“Young people are increasingly growing a stronger, more holistic social conscience and the ambition to solve wider social problems has never been more prevalent than in Millennials and Gen Z.
“This mindset is actually an incredibly good fit for the field of financial planning, where individuals are encouraged to help people to improve their financial well-being.
“Financial planning is also a field that fully embraces the new approach that the world is seeing towards the average working day, where flexibility is increasingly becoming a priority.”
Faba adds that the institute is particularly looking for individuals with an entrepreneurial spirit.
“This is an opportunity for young people who are inclined towards starting their own businesses. They can join us as a Momentum financial adviser, give advice under our licence, market our products and have access to support and coaching from a network of professionals who can assist with all their business requirements.
“In addition, they get to partner with a brand that is well-established and trusted by professionals and consumers, locally and globally.
“The Momentum Institute of Financial Planning has designed interactive online tools to support their new graduates when providing quality financial advice to clients.
“We will take care of the complicated business processes so our financial advisers can focus their time and energy on building sound client relationships,” says Faba.
As a result of Covid-19, digital transformation and technology has accelerated, and in response to this, Momentum’s curriculum is completely virtual, allowing training and development to happen remotely.
“This means new-to-industry advisers are also upskilled in these digital tools and technologies, and are therefore more empowered to navigate the working world of the future,” he says.