Students Advising: Check University Business Links

University students interested in becoming financial advisers should examine their school’s partnerships with local firms, as these relationships can provide a significant career advantage. Some advisory firms maintain formal links with specific universities designed to identify and develop young talent before they enter the job market. Even if a work placement is not a mandatory part of the coursework, aspiring advisers may still benefit from these programs.

Walker Crips Financial Planning (WCFP) has partnered with the University of York for five years to recruit interns. Each year, the firm selects one candidate from a shortlist provided by the university. The firm expects to offer more positions as it continues to grow.

Don Formhals, the firm’s finance and operations director in York, explained the selection process and the firm’s long-term goals. Formhals discovered the university’s internship program in 2020 while discussing potential graduate hires. He learned that the year in industry is a “massive boost for student careers and confidence, post-graduation.” Because of this, the firm treats the internship as the first step in its development plan for young advisers.

“The whole process gives me a good indication of their likely job prospects within our organisation after graduation,” Formhals said.

The internship functions as the first year of a three-to-four-year route to becoming a financial planner. During this time, the intern works in the administration department, directly reporting to the client servicing manager. They also work under the supervision of a financial planner whose client base they eventually manage.

Formhals reviews the interview process annually. He noted that the university often sends four or five standout candidates, and he would hire them all if possible. He prefers candidates who research both the company and the industry before the interview.

The firm prepares interns with questions ahead of time to help them assess if the career fits them. Formhals believes this preparation helps candidates think proactively about their future.

WCFP leadership understands that not every intern will return after graduation. The firm values the experience regardless of the outcome. “If it turns out their future is not with Walker Crips, I am still happy they have actively worked within the organisation and we have helped in their career journey,” Formhals said.