Morgan’s apprenticeship success story

Apprentices are the future British leaders. The financial planning industry embraces on-the-job training. Here’s Morgan’s story about working with Logic Wealth Planning on his apprenticeship…

Like most teenagers Morgan wasn’t sure where his post-school days would take him. Although starting an apprenticeship was always a possibility, further education was the sensible choice while he assessed his options. He passed good ‘A’ levels in Maths, English and PE, so something academic seemed the logical progression. However, those first steps were not down a financial planning path.

Instead, he followed his heart. He took the short trip across the Pennines, enrolling at Leeds Beckett University to study Sport & Exercise Science. As a kid he played anything that challenged him and fuelled his competitive nature. Sport was in his DNA.

However, some things are not meant to be. Within a few months there was a change of plan, as Morgan explained: “Unfortunately, it wasn’t for me. There were a lot of people on my course and I couldn’t see how it would lead to a decent career. I had a part-time job at a supermarket, so when I headed home to Heywood I got some more hours at the ASDA store in Bury to earn extra cash.”

Stacking shelves was a stop-gap. It wasn’t what he wanted, and he wondered how his next chapter would unfold.

How do you start a career in financial services?

Sometimes you need a lucky break in life. “One of mum’s friend’s partners worked at Logic Wealth Planning. They told me about the apprenticeship scheme.

“I still wasn’t sure what I wanted, but I liked the idea of learning about investments and earning a wage. My ‘A’ levels were a good base, so I knew I could do the work.”

Clerical tasks, updating business documents, taking client calls, understanding legislation, and helping to look after the office Health & Safety policies were all early duties and learning opportunities.

“It was interesting work, varied and always challenging. I couldn’t get involved with the products and advice given to clients, but I started to get a flavour of how things worked. There’s a lot more to it than most people think.

“The apprenticeship was linked to Bury College. I was set assignments, and some on-the-job tasks. My tutor would visit the company to review my progress. The year went really quickly.”

It wasn’t all work and no play. A busy social life at Logic Wealth Planning, especially for someone who enjoyed golf, coupled with weekend football, kept Morgan fit and occupied. However, an apprentice’s wage doesn’t go far. A love of travelling, skiing and attending music festivals made him appreciate the need to save and budget.

“Working in a financial services environment has made me much more aware about handling money. I want to balance enjoying myself with saving towards a house deposit and getting my own investments in place.

“It’s definitely opened my eyes as a young adult. Working day in, day out with colleagues who are helping others to plan for retirement seems years away for me. But it’s helped me think about what I’ll need in the future.”

Will it be IFA or Paraplanner?

The good news is that Morgan’s apprenticeship has been completed successfully. A permanent position with Logic Wealth Planning is the well-earned reward. But where next for the Business Administration graduate?

“I want to do my IFA exams if possible, working alongside some of the experienced advisers already at the firm. I’m also interested in Para Planning. That’s the work that goes on in the background, working with IFAs to complete some of the non-client facing tasks. It could involve preparing and administering a Financial Plan, or generating reports for a client.”

And the inevitable “Where do you see yourself in ten years?” question…

“I’d like to think I’ll have a good foot in the door, professional exams done, comfortably passed, and me fully qualified and in a position to pick a career in financial services. If I can build a client bank by then – brilliant.”

And Morgan’s advice to people his age?

“Get a pension sorted as soon as possible. I’ve seen plenty of people worrying that they haven’t put enough aside. Every one of them wishes they taken financial advice earlier and starting considering longer-term investments when they were younger. I’m taking my own advice – NOW!”