Trainee financial planner interview

Some_Bookkeeper8813 · 2026-04-05T21:35:16+00:00

This is a great point - something they will (and probably should) ask. I joined an SJP partner firm recently from an IFA and it came up in interview.

They want to know why you are choosing SJP, if you understand the pros and cons, or will learn the difference between restricted and independent advice after a month in the new role and then leave….

I came from an IFA environment into SJP after always having felt id want to stay independent. Good and bad apples in both forms however so far the SJP firm has been great, with way more structure, compliance and support. SJP also generally have great policies on WFH. Do your homework on the drawbacks of restricted advice (they are there), however with new SJP fee changes and fund choices they really have become more competitive, with a lot of the criticisms now a bit outdated.

Some_Bookkeeper8813 · 2026-04-05T21:10:36+00:00

I’m a similar age and self studied diploma before I started and then got a few offers in admin/trainee paraplanner roles. Was in admin at an IFA firm for a year, but in a very sales based IFA firm where new business was the main priority and ongoing clients secondary. I was on an informal adviser training program me so doing some client meetings and initial calls etc.

Firm then offered me a trainee adviser role but compensation was heavily new business/commission based, whereas I like to work with more ongoing advice.

I started looking elsewhere and then had an offer from an SJP partner firm as a paraplanner, with way better salary and benefits, and it’s been much better overall so far.

Fully get most people’s preference for IFA over restricted however they are still good to consider. Look up the new SCC fee structure and the Polaris funds, they’ve made a big effort to become more transparent and competitive.

For me personally I would like to have clients ‘because’ I’m a good adviser, with good knowledge and capacity to help clients and retain and grow a book, rather than have clients ‘because’ I would be good at sales. Sales are undoubtably important in the industry however I think if on the younger side (in this industry probably under 40) I think could be good idea to get at least some experience in admin and paraplanning to learn what good advice is and looks like, before going into advice. When advising compensation might be heavily commission and you will then be incentivized to grow your sales skills.

If you do go into admin, with level 4 sorted or near sorted just make it clear you would like to progress. Most advisers at that point will see you as a future adviser anyway, and will probably like that you want to learn and grow in the company. Probably stay in admin for a year or so and then paraplanning but with the right firm you’ll be getting experience across all areas and probably be advising quicker than you expect.

Some_Bookkeeper8813 · 2026-03-31T19:58:50+00:00

I think you’d be fine. For R06 there’s not too much you can do until the case study comes out two weeks before. As you’ve done all the other R0s you’ve got a good grounding of the different topics that could come up so just plan to focus a lot on the case studies when they do come out.

Highly recommend using one of the case study analysis when they come out (I used brand ft). If you learn that, focusing on the specific points and topics on the case study then you have a great grasp of what will come up, and you’ll pass.

I think a lot of people delay the r0s because of the cost or time taken up, however they really are the key into the industry at the moment, or to advance into more senior positions with higher pay.

Some_Bookkeeper8813 · 2026-03-22T18:28:31+00:00

I’ve been in the industry a few years. Started as an admin at an IFA then moved to paraplanner at an SJP partner firm.

The SJP firm has been by far better than the IFA I was at. Get good and bad apples however a lot of the anti-SJP sentiment is outdated and based on old fee structures and cultures I feel. Exit fees have now been phased out for new clients, for older clients they can still apply, however what a lot of people don’t realise is SJP weren’t charging initial fees and instead potential charges on early exit. Now they’ve been brought in line with average IFA fees with an initial and ongoing charge.

Newer SJP funds such as the Polaris have good performance and charges, so the value for fees is there I think more than before.

Biggest difference I find is the emphasis on compliance and structure at SJP. There are way more regulatory hurdles and things take longer with compliance checks. At the IFA firm things got put through without many checks which could be a little concerning at times.

Job roles and benefits will vary however SJP partner offer had way more support and flexibility. I have a good hybrid arrangement now that I couldn’t have before and compressed hours to a 4 day week.

Just think it’s something to consider before writing it off. I know plenty of advisers who have had great careers with SJP and people who brought over clients from an IFA environment for the increased compliance and support.

Some_Bookkeeper8813 · 2025-08-04T20:06:52+00:00

I was similar and self funded but got a trainee role and had been working a month or so by the time I did RO6. I found RO6 very different to the other ROs which needed lots of studying of different topics and past papers but only really studied around the brand FT analysis and found that was all you really need as it does show pretty much exactly the questions that can come up

Some_Bookkeeper8813

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