PFS saw rise in e-mentoring at the outset of lockdown

Jessica Bird

June 16, 2020

digital trust process e-mentoring

The Personal Finance Society’s (PFS) e-mentoring scheme saw a surge in interest as coronavirus lockdown restrictions were introduced.

The scheme, called Connect, attracted more than 1,300 active users in just 12 months.

It allows PFS members to form mentorship connections with other professionals at any point of their career, from anywhere in the world.

The number of financial advisers signing up to be a mentor or mentee increased by 34% in the first quarter of 2020, which ended with the start of the government’s lockdown procedures to slow the spread of COVID-19.

One in 10 of those who signed up to the e-mentoring scheme during that period were from outside of the UK.

Of the mentors available through the scheme, 37% are fellows of the PFS, 22% are certified diploma-qualified members, and 41% are associate-level members.

Keith Richards, chief executive of the Personal Finance Society, said: “Coronavirus hasn’t stopped financial advice professionals from wanting to continue to develop their skills and progress their careers.

“There can be little substitute for experience and soft skills to compliment technical competence and both mentor and mentee can gain invaluable insight into the workings of the wider profession from taking part in the Connect e-mentoring scheme.

“The benefit of using a digital platform means that the sharing of professional knowledge is not restricted by geography or can be hampered by measures to slow the spread of the coronavirus.”

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