Financial Services Training Partners LLP

Financial Services Training Partners LLP Monitoring visit report

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Name of lead inspector: Emma Leavey, Her Majesty's Inspector

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Type of provider: Independent learning provider

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Address:

393 Acorn House Midsummer Boulevard, Milton Keynes, MK9 3HP Monitoring visit: Financial Services Training Partners LLP, 17-18 June 2021

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Context and focus of visit

From October 2018, Ofsted undertook to carry out monitoring visits to all newly directly funded providers of apprenticeship training provision which began to be funded from April 2017 or after by the Education and Skills Funding Agency and/or the apprenticeship levy. This monitoring visit was undertaken as part of those arrangements and as outlined in the Further education and skills inspection handbook, especially the sections entitled ‘Monitoring visits’ and ‘Monitoring visits to providers that are newly directly publicly funded’. The focus of these visits is on the themes set out below.

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Context and focus of visit

Financial Services Training Partners LLP (FSTP) became an apprenticeship provider in 2019. At the time of the monitoring visit, all apprentices were studying standards- based programmes in financial services. Of the 24 apprentices, 13 were on level 3 investment operations technician and the remainder were on level 3 mortgage adviser, level 3 compliance risk officer, level 3 financial services administrator and level 4 financial adviser and paraplanner standards.

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Context and focus of visit

FSTP delivers training in a range of geographical locations, including central London. Apprentices work for 13 different financial services employers.

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Context and focus of visit

FSTP usually delivers all training face to face at their employers’ offices. At the time of the monitoring visit and during the period of national restrictions, training has been delivered remotely via zoom.

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Context and focus of visit

The impact of COVID-19 (coronavirus) has been taken into account in the findings and progress judgements below.

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Reasonable Progress

Leaders and managers have designed programmes and training with employers to meet the needs of their businesses. Apprentices benefit from individually designed programmes according to what their job is and what employer they work for. Leaders work closely with employers to plan a suitable and challenging curriculum so that apprentices swiftly become valued and useful employees. Monitoring visit: Financial Services Training Partners LLP, 17-18 June 2021 Employers value the training that their apprentices receive and make sure they know what progress they are making. This enables employers to support apprentices effectively to apply their off-the-job training to their work.

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Reasonable Progress

Leaders and managers introduce the end point assessment to apprentices and employers but do not make sure that they are aware of the requirements throughout the programme. Apprentices are not always clear about what the final assessment will involve or what they need to do to achieve high grades. Because of this they may not always gain the highest grades they are capable of.

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Reasonable Progress

Leaders have recently recruited a new staff member who is an experienced quality assurance manager. This staff member has been recruited to improve the quality of the apprenticeships and develop the teaching skills of training staff. It is too soon to see the impact of this on the quality of the provision.

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Reasonable Progress

Leaders and managers understand the strengths and weaknesses of their provision. They have developed a sensible plan to improve weaknesses. As leaders have not developed effective governance practices to hold them to account, they have been slow to put this plan into action.

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Reasonable Progress

Apprentices participate in a range of off-the-job training activities that help them to develop and apply new knowledge, skills and behaviours in their jobs. For example, apprentices are able to adapt their work to support three different categories of clients, talk about dividends and corporate actions and use technical language appropriately.

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Reasonable Progress

All training staff are well qualified with extensive experience in financial services, they are able to contextualise learning for apprentices to understand and build on previous learning.

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Reasonable Progress

Trainers make good use of frequent formative assessments to check apprentices’ understanding. For example, apprentices complete knowledge checks after each workshop and complete tests and mock exams.

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Reasonable Progress

Apprentices benefit from thorough and well-considered feedback to help them improve their practical skills and written assignments. Apprentices are suitably supported when they need additional time to prepare for exams or complete tasks and workbooks, as a result they make good progress.

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Reasonable Progress

All apprentices continue to develop their English and mathematics skills beyond the requirements of the apprenticeship. Apprentices appreciate the importance of writing professionally and completing mathematics accurately in their jobs. Monitoring visit: Financial Services Training Partners LLP, 17-18 June 2021 Trainers review apprentices’ progress thoroughly each month and share the outcomes of reviews with apprentices’ managers via the online portfolio system. However, not all line managers attend meetings to review apprentices’ progress and only keep up to date with apprentices' progress via the online platform. This lack of attendance reduces the ability of trainers and line managers to utilise fully opportunities to coordinate and plan on- and off- the-job training more effectively.

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Reasonable Progress

Apprentices are ambitious for their futures in financial services despite a lack of careers information, advice and guidance. Apprentices do not receive consistently good advice about what opportunities of promotion or further training are available to them at the end of their apprenticeship.

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Reasonable Progress

Apprentices feel safe and know who to go to if they have any concerns. They complete mandatory safeguarding tasks about the company policy and processes, which means they know how to keep safe at work.

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Reasonable Progress

All staff give high priority to the safeguarding and well-being of the apprentices. They have received training to level 3 this year which helped them to be able to support the safety of apprentices in training and work.

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Reasonable Progress

Trainers and mentors discuss safeguarding regularly with apprentices. Where instances of concern have arisen for apprentices in their work, staff have been quick to resolve the matter and ensure that the apprentice is safe.

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Reasonable Progress

Leaders understand the requirements of the ‘Prevent’ duty. However, they are not aware of local risks where apprentices work. Although apprentices recall some training about ‘Prevent’, they have little knowledge of what threats might have an impact on their lives or jobs.

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Reasonable Progress

regulates and inspects to achieve excellence in the care of children and young people, and in education and skills for learners of all ages. It regulates and inspects childcare and children's social care, and inspects the Children and Family Court Advisory and Support Service (Cafcass), schools, colleges, initial teacher Monitoring visit: Financial Services Training Partners LLP, 17-18 June 2021 training, further education and skills, adult and community learning, and education and training in prisons and other secure establishments. It assesses council children's services, and inspects services for children looked after, safeguarding and child protection.

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Reasonable Progress

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Reasonable Progress

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Reasonable Progress

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Reasonable Progress

T: 0300 123 1231 Textphone: 0161 618 8524 E: enquiries@ofsted.gov.uk W: www.gov.uk/ofsted

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