Becoming a financial adviser was not a lifelong career wish for me.

Indeed — unlike those who dreamed of growing up to be a doctor or a sports star — few of us, I expect, aspired to be a financial planner!

Perhaps this is to be expected, given the relative profile of advisers. But this observation got me thinking about the visibility of our profession to young people, from the perspective of both the next generation of recruits as well as prospective clients.

On the recruitment side, we could do more to raise our profile within the wider sector. My first exposure to financial advice was through making some adviser contacts while on a ski season, which led me to pursue a career via some work experience. However, I get the sense there is a lack of visibility of what our industry is and does among people of my generation.

Younger clients respond well to having a peer at a similar life stage involved in their advice. We will need a new generation of young advisers to serve them

Maybe this low profile among younger adults is not surprising, given the lack of routes into wealth management. But, with the average adviser age pushing close to 60, it poses an existential challenge for our profession.

The requirement of further professional qualifications may be one deterrent, but the lack of opportunities for entry, via mentorship or training programmes, is significant. Here at Finura we are fortunate to offer apprentice and non-graduate roles, which are proving successful.

The traditional pathway can be overly complex and may limit opportunities for keen graduates to gain early client-facing experience. When I was seeking a graduate role, most recruiters advised that prior industry experience was required; the age-old conundrum.

To attract and retain top talent, we must create more effective avenues for early client exposure and career progression. Otherwise we risk losing talent to more visible industries, compounding the problems of an ageing cohort.

I get the sense there is a lack of visibility of what our industry is and does among people of my generation

Employers may fear that young advisers may not be taken seriously by clients, but this has not been my experience. Instead, firms should look at the future of financial advice and the types of client we are likely to serve. With the largest ever intergenerational wealth transfer on the horizon, and the alarming statistic that 92% of heirs change adviser once they receive an inheritance, advice firms should look to youth recruitment to capitalise on an advice proposition for the Millennial generation.

Younger clients tend to be more tech savvy and have often had exposure to DIY investing; they may feel they don’t need financial advice. But they respond well to having a peer at a similar life stage involved in their advice.

We will need a new generation of young advisers to serve them.

Samuel Allen is a chartered paraplanner at Finura

This article featured in the September 2024 edition of Money Marketing. 

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THOUSANDS of people have just days left to apply for up to £400 free cash ahead of the winter.

The latest round of the Household Support Fund (HSF) is due to close on September 30, so if you’re eligible for help you need to make your application now.

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The HSF provides financial help to struggling households, and has been extended several times since it was first introduced by the Government in 2021.

The latest round saw £421million given to local councils to distribute to those most in need in their area.

The current round of funding is due to end on September 30 – but applications are still being accepted by some local authorities, so if you’re quick you can still get in.

Earlier this month, it was announced that funding would be extended for the sixth time.

The news means that thousands more will be able to access support when schemes reopen in October, with the new round of funding in place until April 2025. 

The support available through the HSF varies across the country and what you can access depends on where you live.

But funds could be paid out as a direct cash transfer or shopping vouchers.

The amount you receive is usually based on your financial circumstances and what benefits you receive.

For example, East Devon District Council is offering a one-off payment of £100 to households receiving full Housing Benefit or a full Council Tax reduction, with less than £3,000 in capital and someone living in the household who is disabled or a carer.

The cash is also available to care leavers in receipt of Council Tax relief or other benefits including discretionary Housing Benefit.

Meanwhile, Shropshire Council provided a one-off payment of £400 to households in receipt of Council Tax support with a dependant child.

Those eligible who have missed August’s payment run can still apply to have the funds added to their Council Tax account.

And Blackpool Council has already announced its support scheme will be extended until April 2025.

Households struggling with living costs could be able to access a £200 payment if there are one or two people living in their property, or £300 if three or more are resident.

To be eligible, applicants will need to be over the age of 16, experiencing financial hardship and responsible for paying energy bills.

Many councils have warned that funds many close early if all of the cash is allocated, and some have already stopped accepting new applicants.

But it’s always worth checking your local council and, if schemes are still open, it’s best to apply sooner rather than later before all the funding is gone.

Every council will receive funding from the HSF in the next round of support, so if you’re worried about making ends meet, keep checking your local council’s website for further details.

To find your local council, use the Government’s council locator tool.

What is the Household Support Fund?

The HSF was first set up in October 2021 and has now been extended six times.

Councils in England are now able to benefit from the latest round of funding which amounts to £421million.

Nationwide councils have received a portion of the cash to distribute to households in need.

But there is a postcode lottery to determine who qualifies and each local authority can set its own eligibility criteria.

Yet, if you have a limited amount of money or savings in the bank, or are deemed to be vulnerable or on benefits, you will probably qualify for help.

The HSF’s fifth round of funding will close on September 30, but the government has extended the scheme until April 2025 with the injection of a further £421million.

Applications may still be being accepted for the fifth round of funding, so it’s still worth checking with your local authority.

Councils will determine how the cash is distributed. For example, households in Leicestershire have been able to apply for a financial award of £300 per household, which was paid in the form of vouchers to support with gas, electricity and food.

The payment could be delivered as a Post Office voucher, which can be redeemed for cash to help with gas, electricity or water, or an e-voucher to help with food costs that can be converted to a gift card for major supermarkets.

Meanwhile, residents of Leeds could receive council tax support with those with dependent children able to claim up to £100, while those without children could receive £25.

You should get in touch with your local council to see if you might be eligible for help.

You can find what council area you fall under by using the Government’s council locator tool on its website.

The help you can get varies, depending on who your local council is, as well as your personal situation.

You may be able to receive free cash or vouchers to cover the cost of heating your home, or the weekly food grocery shop.

If an applicant is already receiving benefits, these will not be affected by the HSF.

Additionally, you do not need to be getting benefits to receive vouchers or funds from the HSF.

Check with your local council to find out what support is available and the eligibility criteria.

How do you apply?

To get the help, you’ll need to look it up with your council because local authorities are the ones responsible for distributing the funding.

To find your local council, use the gov.uk council finder tool.

Once you’ve identified your local council, there should be information on how to apply for the funding online.

Every council has a separate application process, meaning specific details regarding how to apply depend on where you live.

The eligibility requirements to access the fund might vary in addition so it’s best to check with your local council for further details.

Some councils won’t need you to apply for help and will get in touch instead if you qualify.

If you can’t find any information on your council’s website, it’ s a good idea to call them and ask for further information.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

Around 1.1million people in the UK living with a disability are missing out on £5,644 extra a year in benefit payments.

Attendance Allowance is a payment handed out by the Government to help those above State Pension age living with physical and mental illnesses.

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How much you receive depends on the severity of your disability, with the maximum payment working out as £434.20 a month.

However, a recent report by Policy in Practice found that 1.1million people may be missing out on the cash boost.

If there is a chance you or someone you know could claim the benefit then it is important to check your eligibility.

To qualify for the benefit, you must be aged 66 or over and live with either a mental or physical disability, or you require help looking after yourself.

You also must have been experiencing these issues for at least six months.

If you live in a care home, you can only claim Attendance Allowance if you pay for all your care home costs yourself.

If you do need an assessment, you’ll get a letter saying why and where you must go.

During the assessment, a medical professional will need to examine you.

If you are confused about your eligibility, it is worth getting in touch with the Department for Work and Pensions (DWP) to ask for their guidance.

You are still entitled to your state pension even if you claim this benefit.

How much can you get?

Those living with less severe disabilities can get up to £72.65 a week, which works out at £290 a month.

You may be eligible for this if you require help or constant supervision during the day or at night.

The higher rate of £108.55 a week is given to those who require supervision throughout both day and night, or if a medical professional has said you’re nearing the end of life.

This works out as £434.20 a month or £5,644 a year.

If your circumstances change, you could get a different rate, so it is important to report any changes to the DWP.

You could get extra Pension Credit, Housing Benefit or Council Tax Reduction if you get Attendance Allowance – check with the helpline or office dealing with your benefit to see if you quality.

How do I claim attendance allowance?

To apply, you’ll need to download the attendance allowance form on the gov.uk website and then send it by post.

It should be sent to the following address: Attendance Allowance Unit, Mail Handling Site A, Wolverhampton WV98 2AD.

If you’re unable to print the form yourself, you can call the attendance allowance helpline on 0800 731 0122 and ask for a copy to be sent to you.

It’s worth applying, as you may get extra pension credit, housing benefit or a council tax reduction if you receive attendance allowance.

The application form is very long and asks for a lot of personal information.

If you think you’ll need help filling in the form, you should get a friend, relative or adviser to help you complete it if possible.

Entitled to has a full list of organisations that can help with claiming disability benefits on its website.

If you want to know if you are receiving the right amount of benefits, you can use a number of online calculators including on the EntitledTo and Turn2us websites.

In this In Conversation With… episode, Kimberley Dondo chats with Rory Albon, founder of Albon Financial Planning. Rory shares his journey to launch his firm and his approach to investment optimisation, retirement planning, and financial well-being. He offers insights into balancing saving and investing, managing tax efficiency, and safeguarding assets through tailored insurance solutions. Rory also discusses his vision for his firm’s future and offers invaluable advice for fellow financial advisers looking to start their businesses. Tune in now:

THOUSANDS of households have been urged to check if a cost of living payment worth £50 has landed in their bank accounts today.

The money comes via the Household Support Fund (HSF) which is worth £421million in total.

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The fund has been split up between councils in England who are in charge of distributing their allocation before the end of September.

What you can get depends on where you live, as each local authority has been given its own unique amount.

Spelthorne Council, on the outskirts of West London, has been dishing out payments worth £50 to eligible households from July this year.

Anyone who qualifies for help will have received an email telling them.

You will only receive the payment if you were found to have been eligible after applying.

A maximum of one payment will be made per household and any payments are being made direct into bank accounts.

You will qualify for the £50 cash if you live in the Spelthorne area and receive one of the following benefits:

Spelthorne Council said further £50 payments are being made up until today, September 23.

The fund is often aimed at those who are already on low incomes and claiming help.

But you don’t always need to be on benefits or Universal Credit to be eligible for the cash.

If you’re eligible, you should be able to get free cash and vouchers to help pay for things like heating your home or your weekly grocery shop.

Check with your local council to find out what support is available by visiting https://www.gov.uk/find-local-council.

Can I get help if I don’t live in Spelthorne?

You might be able to. The £421million HSF pot has been shared between councils in England, but not equally.

Each local authority gets to decide its own eligibility criteria.

That means what you can get, and whether you qualify, depend on where you live.

Some councils started distributing help in April and have already depleted their share, so you might have missed out for now.

The Household Support Fund has been extended multiple times since its inception in October 2021, so it may be extended again though.

There are currently a number of councils offering help via the HSF.

Leicestershire Council is handing out payments worth £300 to thousands of households.

Households in Stockport can claim up to £315 worth of free supermarket vouchers to help with the cost of living.

Meanwhile, Wokingham Council is handing out grants worth up to £140.

If you want to check if you are eligible for help, contact your local council.

You can find what council area you fall under by using the Government’s council locator tool.

How else to get help with the cost of living

If you’re not eligible for the Household Support Fund in your local area, it’s worth checking if you qualify for benefits.

Recent figures from Policy in Practice reveal millions of people aren’t claiming the extra help when they could be.

In total, £23billion went unclaimed over the last financial year, with £8.3billion worth of Universal Credit not claimed for.

You can apply for benefits on the Government’s website.

It’s not just extra money you get from benefits either, with a number opening up additional perks.

How has the Household Support Fund evolved?

The Household Support Fund was first launched in October 2021 to help Brits pay their way through winter amid the cost of living crisis.

Councils up and down the country got a slice of the £421million funding available to dish out to Brits in need.

It was then extended for a second time in the 2022 Spring Budget and for a third time in October 2022 to help those on the lowest incomes with the rising cost of living.

The DWP then confirmed a fourth extension of the scheme through to March 31, 2024.

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Former chancellor Jeremy Hunt extended the HSF for the fifth time while delivering his Spring Budget on March 6, 2024.

Those on Universal Credit can get help covering the cost of childcare, for example, while those on Pension Credit can get a free TV licence.

Those on the Guarantee Credit element of Pension Credit also qualify for the Warm Home Discount – a £150 discount off energy bills once a year.

You may also be able to get grants to cover your energy bills if you’ve fallen into arrears.

A number of energy firms offer grants to struggling customers, including Scottish Power, Octopus Energy and British Gas.

If you’re struggling to pay your bills, speak to your supplier to see if they can give you any help.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories

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A FAST food chain is giving away free quesadillas this week – here’s how you can get your teeth into one.

Chipotle Mexican Grill will be handing out the freebies to anyone who purchases a main meal through the restaurant chain’s app from today (September 23) through to September 25.

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The promotion is in celebration of National Quesadilla Day on September 25.

How the offer works

Starting on September 23, guests who download the Chipotle UK app will receive an offer redeemable for one Buy-One-Get-One-Quesadilla-Free offer for orders placed via the app.

The offer is valid through National Quesadilla Day on September 25.

Existing Chipotle UK app account holders will automatically receive the deal in their accounts.

Anyone who doesn’t already have the app can download it either via the Apple Store or by visiting Google Play for Android users.

Chipotle introduced their customisable quesadillas to their menu in May 2023.

They feature melted Monterey Jack cheese, a choice of protein, optional fajita veggies, and three sides for dipping.

Chipotle’s Vice President of Culinary Nevielle Panthaky recommends a Chicken al Pastor Quesadilla with Fajita Veggies and sides of white rice, black beans and sour cream.

Chipotle’s quesadillas are a digitally-exclusive menu item.

Anyone tempted by the offer should note the deal is valid for one free quesadilla with the purchase of a main of equal or greater value.

Add-ons are not permitted on a free quesadilla.

Kids Meals do not count as a main purchase.

You must provide the promo code required which will be deposited into the user’s account.

The code is valid for one-time use only.

The offer is only available through the Chipotle mobile app and not on any third party ordering platforms.

It may not be combined with other coupons, promotions, or special offers.

Where are the Chipotle restaurants in the UK?

Chipotle, which is immensely popular in the US, opened its first restaurant in the UK in 2019.

There are 19 in central London.

Baker Street
White City, Westfield
Charing Cross
West End Lane
Chiswick
Islington
Northcote Road
Canary Wharf
Uxbridge
London Wall
Lordship Lane
Tottenham Court Road
King William Street
Putney
St Martin’s Lane
Gloucester Road
Chipotle at The O2/Unit 12.00.06
Unit 1109 Ariel Way
White Lion Walk

There is also one branch in Twickenham and one in Watford.

The chain offers a wide choice on its menu.

Build your own burritos start at £8.95.

Burrito bowls also start at £.8.95.

There is also a wide selection of lifestyle bowls with the cheapest ones starting at £8.95 but going up to £12.45 for a high protein bowl or the protein pump bowl.

Quesadillas are also build your own so do vary in price depending on what you order but the cheapest ones start at £8.95.

Similarly, their salads start at £8.95 but vary depending on what you order.

There’s also a whole range of tacos on offer as well with prices once again starting at £8.95.

Chipotle also has a range of sides and dips to choose from, along with different size options.

Tortilla chips and guacamole costs £4.40 while an order of chips and fresh tomato salsa costs £2.20.

If Mexican food isn’t to your taste, there are plenty of other ways to get free food.

Greggs

Greggs regularly dishes out free sausage rolls, doughnuts and more to people downloading its app for the first time.

The app can be downloaded for free via Google Play and the Apple App Store.

Plus, once you’ve downloaded the app, you can build up “stamps” every time you buy a qualifying item and for every 10th stamp, you get a free item.

Loyalty card customers also qualify for a free birthday treat once a year which has to be redeemed via the app within one month.

Krispy Kreme

Anyone signing up to the Krispy Kreme Rewards app, the chain’s loyalty scheme, can pick up a free doughnut just for signing up.

Again, you can sign up via Google Play or the Apple App Store, depending on what smartphone you have.

Not only do you get a free doughnut for signing up, you can also get a free one on your birthday.

Both freebies can be redeemed via the app.

Taco Bell

The Taco Bell app is free to download via Google Play and the Apple App Store.

Like with Krispy Kreme and Greggs, you can build up points and use them to get freebies or money off certain items.

With 200 points you can redeem a free dessert, and with 500 points a £6 voucher, for example.

You also get a free taco just for signing up, and a free treat on your birthday.

McDonald’s

The McDonald’s My Rewards app lets you build up points when purchasing items which you can redeem for free food (once you get to a minimum of 1,500).

One point is equal to 1p, so you need to spend £15 to get to 1,500 points.

You can redeem any points via the app and by selecting the “add to code” button. You then show this code when ordering via drive-thru, at the counter or via a kiosk.

You can also get a bonus 1,000 points and free medium fries on your first order.

Burger King

Burger King fans can earn free Whoppers through the chain’s YourBurgerKing app.

It can be downloaded for free via Google Play or the Apple App Store.

It works like McDonald’s loyalty scheme in that you buy qualifying products and then build up points which can be redeemed for freebies later on.

You earn 10 points for every £1 spent.

You can redeem any loyalty points for freebies via the app, by selecting the Rewards menu, or in-restaurant via by redeeming a six-digit code through the app and then scanning it at the till.

Nando’s

Nando’s offers customers free food when they accrue “Chillies”, or loyalty points.

These chillies can then be redeemed for different types of free food, including free chicken and sides.

You have to spend a minimum of £7 to get one chilli.

You can download the Nando’s app via the App Store or Google Play, or pick up a physical card in-store.

KFC

The KFC Rewards Arcade app can be downloaded on to any smart phone and offers freebies such as chicken and sides.

You have to spend a minimum of £3 and then check the app to see if you’ve won anything, so it can be pot luck what you get.

But if you are planning on eating KFC anyway, it’s worth downloading the app to be in with the chance of winning something.

Anything won can be redeemed by scanning your app at the front counter, at a kiosk or via a drive thru.

Or, you can add the reward to your basket directly if you are ordering online or via the KFC delivery app.

Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.

Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories