New training pathway for potential advisers launched
The number of mortgage advisers in the UK is falling, with industry leaders warning that an ageing workforce and a lack of new entrants are contributing to the decline.
According to data obtained from the Financial Conduct Authority, the number of mortgage advisers in the UK has declined from about 28,616 in 2019 to 24,422 in 2023. Adviser numbers have remained below 29,000 since a sharp post-financial crisis reduction in 2008, with the 2023 figure around 47% lower than the 2007 peak.
In response to the ongoing shortage, Just Mortgages has launched Just Learning, a new programme aimed at attracting and preparing individuals without previous experience or qualifications to enter the mortgage advice sector.
The initiative offers a structured route to achieving the CeMAP 1 qualification, with a comprehensive revision plan and a week-long in-person course. Those who complete the programme are guaranteed an interview with a sales manager at Just Mortgages.
“It’s no secret that adviser numbers are only getting smaller, whether it’s career changers or retirements among an ageing broker population,” said John Phillips (pictured), chief executive of Just Mortgages and Spicerhaart. “Despite this, very little is being done within the industry to bring in new people and backfill the talent pool. If we want to ensure that the vast majority of mortgages are still arranged through advisers, firms absolutely need to be creating those pathways.”
Just Learning is designed to run alongside Just Mortgages’ existing academy, which is open to those already holding the CeMAP 1 qualification. The academy operates several times a year and has produced up to 50 new advisers annually.
“While our successful academy proposition will continue to focus on those already with the necessary qualifications, Just Learning will answer the clear need to support those without any qualifications,” Phillips said. “We will provide all the necessary training to help pass the exams and provide a guaranteed interview with the business. We hope more firms will take on similar initiatives to help attract more people into the industry, as well as more young people into a career in advice.”
“When you consider the average age of mortgage brokers is in the mid-50s, the challenge we face as an industry becomes abundantly clear,” added Rodney Sloan, head of learning and development at Just Mortgages. “The launch of Just Learning is really exciting and means that no matter where you are in your journey – or even if you’ve never considered a career in advice before – our proposition is broad enough to provide a route into the industry.
“We are incredibly proud of our academy programme, which has helped find some fantastic talent who have gone on to become some of our most successful advisers. Adding Just Learning is the logical next step.”
Just Mortgages employs more than 650 brokers across its employed and self-employed divisions. Those who secure a place through the new programme may work in estate agency branches or join the self-employed division, depending on suitability.
Graduates of the academy receive ongoing support, mentoring, and access to a digital learning platform with modules covering sales, compliance, marketing, and other adviser-relevant topics. The company offers both in-person and remote training for continued professional development.
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