Misson, objectives and strategy

MISSION

Recognising existing initiatives across the sector, the NTA’s mission is to share good practice and augment established routes and resources already available to progress a career in personal finance.

By coordinating input from firms across the financial planning distribution chain, the NTA aims to identify opportunities for delivering better outcomes and providing essential guidance to smaller firms who may not have experience or resources to recruit and train new talent.

OBJECTIVES

The NTA’s six objectives are listed below. They’re underpinned by the commitment to engage with key stakeholders, including regulators and government departments, to influence the development of new talent and address the advice gap:

STRATEGY

The NTA Steering Group has identified three key pillars of activity to deliver the objectives above.

Charter and code of ethics

CHARTER

The New Talent Alliance (NTA) is a collective of employers committed to using their resources responsibly and ethically whilst fostering an environment of growth and developing new talent. This Charter outlines the principles and commitments that guide our members and those utilising our services.

The NTA is dedicated to supporting individuals in their professional journey. Members of this Charter pledge to:

1. Nurture New Talent

2. Provide structured pathways for career growth, particularly for young professionals and first-career entrants.

3. Offer mentoring, training, and skills development programs.

4. Ensure Inclusive and Supportive Work Environments

5. Foster a culture of inclusivity, diversity, and equal opportunity.
6. Support employees' personal and professional growth through guidance and career planning.
7. Encourage Ethical and Sustainable Recruitment

• Utilise fair, unbiased recruitment practices that align with ethical and legal standards.
• Support long-term career growth rather than short-term employment gains.

4. Develop the Next Generation of Leaders

• Encourage leadership skills, decision-making abilities, and entrepreneurial thinking among young professionals.
• Provide platforms for employees to contribute, innovate, and shape the future of the industry.

By committing to this Charter, members of The New Talent Alliance pledge to uphold ethical business practices, support new talent, and contribute to the development of future professionals. Together, we aim to create a sustainable and responsible workforce that benefits individuals, businesses, and society as a whole.

CODE OF ETHICS

Members of the New Talent Alliance pledge to uphold the highest standards of professional conduct and integrity. Our Code of Ethics provides a framework for responsible business practices, ensuring fairness, compliance, and dedication to talent development. All members commit to:

1. Integrity and Fairness

• Act with fairness, integrity, and courtesy in all business activities.
• Maintain transparency in all dealings with employees, clients, and stakeholders.

2. Legal and Regulatory Compliance

• Comply with all relevant laws, including statutory regulatory requirements.
• Adhere to applicable codes of practice, codes of conduct, and professional guidance notes.

3. Confidentiality and Data Protection

• Obtain and respect the confidentiality of information relevant to the conduct of services offered.
• Ensure that data protection policies comply with applicable legal standards.

4. Managing Conflicts of Interest

• Recognise and take responsibility for identifying actual or perceived prejudicial influences or conflicts of interest in business activities.
• Disclose such conflicts to the parties concerned and take appropriate action.

5. Transparency in Remuneration

• Be willing to explain the basis of remuneration and reward in relation to the services offered.
• Ensure fair compensation structures that support employee growth and motivation.

6. Knowledge and Competence

• Achieve, maintain, and apply the standard of knowledge and competence appropriate to the services offered and activities performed.
• Foster a culture of continuous learning and professional development.

7. Professional Boundaries

• Act only within the limits of personal competence and any authority as an employee or agent.
• Seek guidance and training when facing tasks beyond one's expertise.

Engage

The New Talent Alliance (NTA) will engage with all stakeholders across the sector to raise awareness of the NTA initiative and help promote careers in advice to new talent. 

If the sector is to attract more talent it means competing for attention with other career opportunities, and we must acknowledge that we’re probably starting from a position of relatively low awareness and low appeal compared to other sectors.

The New Talent Alliance aims to:

• Outline the sector’s challenge around reducing trends in adviser numbers.
• Show a united front and demonstrate why the sector should join forces.
• Encourage competition and diversity of choice for consumers in financial advice.
• Promote professional integrity from all sector stakeholders.
• Promote professional advocacy for careers in the advice sector.
• Promote different career paths and options for new talent, not just the financial adviser role.
• Outline the opportunity and benefits of creating a more sustainable and diverse advice sector for the future.
• Signpost to other sector initiatives that complement and support new talent joining the profession.

Inspire

The New Talent Alliance (NTA) will inspire and encourage advice firms to recruit and develop new talent by overcoming concerns, and outlining the benefits and support available.

Nothing will change unless more firms are inspired to offer more career opportunities and more candidates are inspired to consider them.

The New Talent Alliance aims to:

• Acknowledge the challenges firms face when recruiting new talent.
• Understand the perceived barriers to sourcing and recruiting new talent, and how to overcome them.
• Promote the benefits of hiring new talent including energy, innovation and diversity of thought.
• Promote talent acquisition as a succession planning alternative to consolidation.
• Share success stories at every opportunity through case studies and other media.