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moneymarketing.co.uk 21 January 2016

CareersbriefINSIDE43 Commentary 45 My Beautiful Career45 People on the Move 46 Development Focus

Now the Institute of Financial Planning has been merged into the Chartered Institute for Securities and Investment, most

fi nancial planners are getting used to the new norm. The CISI is a very diff erent beast to the good old IFP. Not necessarily better or worse, just diff erent. And that takes some getting used to.

One issue that has been causing a bit of unease since the merger is certifi cations. Chartered Financial Planners can now add the title Chartered Wealth Manager to their alphabet soup of designations simply by undertaking the ‘Integrity Matters’ ethics exam and paying an admin fee of £30 plus VAT.

As someone who fl unked the CWM exam a few years ago, I am not complaining. But the issue some commentators have raised is that the CFP is a QCF Level 6 qualifi cation, while the CWM is Level 7.

So are the two really comparable? Much like the organisations that created them, CFP and CWM are diff erent beasts. Again, one is not necessarily better than the other – they are just diff erent.

The CFP is assessed by way of a case study, after passing an

exam that tests knowledge of investment, protection, pensions, tax and general fi nancial planning. Candidates are expected to prepare a fi nancial plan, designed to test the application of their knowledge in these key domains, and demonstrate how they might present the plan to a client in a way that is meaningful.

The CWM, on the other hand, is assessed by three exams, covering fi nancial markets, portfolio construction and applied wealth management. Put simply, the CFP is broader as it covers key areas of personal fi nance, while the CWM focuses on investments alone, albeit requiring a deeper knowledge of fi nancial markets and portfolio construction.

This begs the question: what is wealth management in the true sense of the term? Is it the narrow focus on investment management or does it require a much broader range of skills in order to manage not only a client’s investment portfolio but their retirement, tax and estate planning as well?

Portfolio managers have hijacked the title ‘wealth manager’ for far too long. In reality, people’s wealth extends beyond their investment portfolios and, as such, eff ective wealth management requires expertise in other domains not covered by the current CWM exams.

However, one might argue that investment content in the CFP model could be more in-depth, and CFP holders should have to undertake an exam on portfolio construction before being able to use the CWM designation.

On this point, though, it is important to bear in mind many CFP holders would have already completed hundreds of CPD hours on investment markets and portfolio construction, and many will also hold other designations, such as the Investment Management Certifi cate.

What the CISI merger has done is create two diff erent routes to gaining the CWM designation: one with a narrow but deeper focus on investment and the other with a wider coverage of key areas including pensions and tax planning.

I guess it is up to clients to choose what they prefer.Abraham Okusanya is founder and director of FinalytiQ

ABRAHAM OKUSANYA

Alphabet soupThe IFP/CISI merger has raised questions about the crossover between the CFP and CWM certifi cations. Are the two realistically comparable?

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IFA Practice Manager£60kBoutique Investment Firm, West End and paying to £60k.

Senior Paraplanner£42kDFM fi rm, City of London, to £42k + progress towards portfolio management.

Financial Planning Administratorto £32kInvestment House, City of London, to £32k.

Paraplanner£45kChartered IFA Firm, mid City, £45k, possible Adviser role.

Junior Paraplannerto £33kNational IFA, Mayfair, to £33k, training role suitable for a graduate.

Adviser Supportto £43kAccountancy IFA, near Oxford Street, to £43k, career development role.

Compliance Manager£50kIFA Network, City of London, £50k.

Mortgage Administratorto £28kLarge IFA Practice, City of London, to £28k.

Financial Divisions is recruiting for Adviser Support roles. We have Technical Administration, Paraplanning and Offi ce Management roles across London and the South East of England. We have returned from the New Year and we are as busy as ever. Please review these roles and give us a call:

For further information please give us a call on 0207 3975544 to discuss these roles or for a more general discussion on your career and what is available to you. Alternatively email a CV to recruitment@fi nancialdivisions.co.uk

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Email: info@astoncharles.co.uk Web: www.astoncharles.co.uk

Leeds 0345 193 2419Essex 0345 193 0694A personalised service from industry experts

Financial PlannerFareham, Hampshire £30K - £40K basic salary (OTE £80K)A well-established and reputable Wealth Manager now requires a proven Financial Planner who has a successful track record in providing pensions and investment advice. This is a professional, family friendly organisation, which provides financial advice to private clients across the south of England. The business benefits from state of the art back-office systems, alongside Diploma Qualified Paraplanners, who will support you in the advice process and recommending suitable products. Although transferable clients would be advantageous, the business has many other lucrative introducers and business streams, in order for you to build a strong client base. If you are looking to work within a supportive and encouraging environment, then look no further than this organisation.

Corporate Administrator London to £30K plus benefits This superb opportunity has arisen in the City of London with an award-winning firm of Independent Financial Advisers. The company has built an excellent reputation nationally for offering exceptional client service and specialist advice. Ideally, you will have a current working knowledge of Employee Benefits, Individual and Group Pensions, Protection, Drawdown, ISAs, OEICs and Investment Bonds. The role will require you to be highly organised in order to provide the Corporate Consultants with full administrative support, whilst adhering to strict FCA regulations. Should you have the desire to progress, you will be fully supported with studies towards professional qualifications, as well as benefiting from a bespoke career development plan.

Independent Financial Adviser Yorkshire £35K - £45K plus commission & benefits The long-standing business owner and Adviser of this prestigious wealth management firm is essentially seeking a ‘right hand man’ with which to continue the success of the firm. The company is seeking a competent Adviser who will provide advice to its existing key clients within areas of pensions and investments. Unlike many advisory opportunities in the market, our client is not expecting you to bring business with you, as you will inherit a client bank from the Principal Adviser. To be considered for this role, you will have a high level of technical product knowledge and strong relationship management skills.

Client Support Administrator Leeds to £22K plus benefitsThis is undoubtedly one of the finest financial practices within which to forge a long-term career, as it offers all the support and career development you could possibly need. Your daily duties will include providing support to Consultants, ensuring the branch database is accurately updated, as well as managing various workloads as required by the department Head. This role will be suitable if you have a background as an FS Administrator, having worked for either an IFA or an insurance company. You will be supported with funding for qualifications, as well as being given the opportunity to move into a paraplanning or advice role, should you wish to do so.

Financial Adviser Merseyside £40K+, plus bonus & benefitsA large regional wealth management practice, with links to a national organisation, currently requires an experienced and professional Diploma qualified individual to service existing HNW clients across the North West region. You will inherit clients from the MD and Senior Advisers, conducting reviews and managing ongoing relationships, effectively ‘servicing’ the existing recurring income. Whilst the role is officially office based, you will cover the North West, with occasional client meetings further afield; only being required to attend the office a couple of times per week. You must have some experience of face to face advice; preferably having managed inherited client relationships and be highly professional and credible. This is an outstanding opportunity to work with HNW and UHNW clients and enjoy excellent earnings potential.

IFA Newcastle to £50K, plus car allowance, bonus & benefitsA highly respected and leading regional wealth management practice requires an additional Adviser to continue the impressive growth of its satellite office. Benefiting from the established relationships in the region, you will work closely with colleagues in order to generate new business opportunities with existing clients, as well as working together to source new business. There has also been an additional boost in marketing budget and support, giving huge potential to generate substantial levels of business. As well as an attractive salary and competitive bonus structure, you will receive a comprehensive range of additional benefits including car allowance and pension.

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Learning and development has never been as accessible as it is now. Today we can access learning across multiple devices that are mobile and available at a time and place that suits best. I recently refreshed my Spanish using a Babbel app. I was able to do bite-sized learning from my iPhone in between working and being a mum on the go.

Not only are learners becoming more technology savvy but we are also expecting more from our learning experience. We want an experience that fi ts our personal needs, learning speed, preferred learning style and our pathway.

It is clear that technology is able to pull together learning methods, thus creating a more personalised learning environment. Businesses should prepare themselves to see greater integration around learning and work. As it stands, 70 per cent of learning happens on the job, with 30 per cent from social development and classroom work, or online training. With this in mind, it is important for employers to use technology to meet employees’ needs in their own continuous development.Lisa Winnard is HR director at Sesame Bankhall Group

circumstance. You should be able to take anything you do and measure it against those principles. If there is something that comes up short or makes you feel uncomfortable, look at what needs to change and do something about it. Easier said than done perhaps when it comes to challenging others but there are times when this must be done.

Let 2016 be the year of righting wrongs. Evaluate, challenge and improve. Banish that old offi ce chestnut “because we have always done it this way”. Speak up whenever you need to, being clear about the result you want and why. Accept that there may be occasions when you need to take things further, however uncomfortable this may be. If you need to blow the whistle formally, be prepared to shoulder that responsibility.

Speaking up does not have to be confrontational. Done well, it can enable concerns to be raised in a positive and constructive way. Done early, it can stop issues becoming more serious and causing irreparable harm.Sam Rees-Adams is head of external accreditation at the Chartered Institute for Securities & Investment

The beginning of a new year brings hope, inspiration, setting of personal goals and resolutions to be achieved. For many it may mean a new

job or even changing careers. But whatever your goals are you should always be thinking about your continuous development.

I was interested to read some research about adult learners by Malcolm Shephard Knowles, an American educator famous for the adoption of the Andragogy theory, which is the art and science of helping adults learn. He found that adults learn diff erently to children. According to him, the key adult learning traits are as follows:� We develop a strong need to be

self-directed in our learning;� We value prior experience;� We become ready to learn when

we want a particular outcome;� We focus on solving problems in

contexts that are important to us; and

� We are well motivated to learn for intrinsic or work-related reasons.These fi ndings link very well with

the way that learning is shaped nowadays. Certainly we have seen

Eyes forward everyone; it is the start of a brand new year. You have got your goals for 2016 and may be a good chunk of the way through “dry

January”. Congratulations/never mind, there is always next year (delete as applicable).

But make sure to take a moment to look backwards, right back to when you were small. What did you dream of doing? Among other things, I was going to right wrongs and win an Oscar. Now, I myself may have only had the chance to make an acceptance speech in my head but one of my CISI colleagues was recently able to do it for real.

The City HR Oscars took place in December and we won for our Speak Up initiative, which encourages a culture of speaking up against failings that aff ect the standards of an organisation. It is important to start with the expectation of doing the right thing and take action where you need to if you see things that are not right.

But right for whom? For shareholders, clients, staff or regulators? I like to keep things

our learning habits shift hugely over the past 10 years, with a lot of our development methods driven by today’s technology solutions. Technology will continue to play an instrumental role in developing ways to better educate and grow people. After all, we have so much information at our fi ngertips now.

Gamifi cation is proving to be a powerful tool to engage learners. This approach aims to motivate students by using video game design and game elements in learning environments. The goal is to maximise enjoyment and engagement through capturing the interest of learners and inspiring them to continue furthering themselves.

simple and it seems that “client fi rst” is the place to start. If your clients’ interests are at the heart of everything you do and how you do it, any obligations to regulators and shareholders should follow automatically.

Regulation exists to protect clients and acting in their best interests should always achieve that. What is more, happy clients are likely to stay with you longer and recommend your services to others, thus increasing revenue and satisfying shareholders.

The Speak Up initiative is based on the principles of fairness, openness, transparency and honesty. This is a sound approach in any

Commentary

Let 2016 be the year of righting wrongs. Evaluate, challenge and improve. Banish that old offi ce chestnut “because we have always done it this way”

The goal of gamifi cation is to maximise enjoyment and engagement through capturing the interest of learners

THE CISI’S VIEW

SAM REES-ADAMS

Take a stand and blow the whistle

ADVISER’S VIEW

LISA WINNARD

Personalised learning for the new year

moneymarketing.co.uk 21 January 2016

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44 Careersbriefwww.retailfinancialcareers.com

www.crsrecruitment.eu

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Our Client is well known throughout the Financial Services Industry and Operates within the IFA Market. They are now looking to meet with an Experienced Mortgage Compliance Consultant. Working from home, you will cover your Designated Region. We are looking for suitable Candidates to work around the Greater London Area (along with other parts of the South). You will be CeMAP Quali ed and reside anywhere within or very close to the Region to be worked! For Further Details Visit Our Website.

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This role is fully supported by in-house investment specialists, technical experts and administrators enabling advisers to focus on advice.Competitive basic salary package up to £57,000,+ benefi ts + bonus.

Please email your CV to recruitment@bradburyhamilton.co.uk or write to us at our London offi ce.

When working at Bradbury Hamilton you will:• Provide holistic advice to high net worth and mass affl uent private and SME clients.• Meet with new and existing clients for reviews and explain the service whilst taking them through the fi nancial planning process.• Servicing existing client bank & new introduced – don’t need to bring own clients.• Study leave provided along with support for further exams & professional development.• Work with the support team to produce clear, technically accurate, compliant and concise fi nancial planning reports for clients, including high level fi nancial plans based on their entire fi nancial position, suitability reports and regular investment review reports.

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IFA/ FINANCIAL PLANNER

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Careersbrief

JP Morgan Asset Management head of UK funds field sales Mike Parsons is leaving the firm aft er almost 10 years. Parsons has been with the asset manager since 2007. He was head of UK intermediary sales until the end of 2013 when he was put in charge of a newly created team of stockbrokers, wealth managers and advisers across three sales teams. He will not be directly replaced and a new hire for a new role will be announced in due course.

A former Lloyd’s market boss is to take over as chief executive of the Chartered Insurance Institute from next month. Sian Fisher will replace Sandy Scott, whose departure was announced last March. In a career of almost 20 years, Fisher has helped to lead a Lloyd’s syndicate, a European insurance company and an international broker. She also founded the London market’s Managing General Agents’ Association.

HM Revenue & Customs chief executive Lin Homer is to depart the tax service in April aft er four years as chief executive. Homer, who was made a Dame in the New Years Honour’s List in recognition of her public sector work, joined HMRC in January 2012. Her departure comes aft er a tumultuous 12 months for HMRC. In a statement announcing her departure, Homer says the beginning of a new spending review period “seemed a sensible time to move on”.

Brewin Dolphin head of investment management Stephen Ford has stepped down aft er 15 years with the wealth management firm as part of a restructure. As part of a strategy to grow funds under management, Brewin Dolphin has reorganised its executive committee to ensure there are client-facing directors on it. Among the new appointments to the committee are Charlie Ferry, responsible for private client business in the South-east, and Paul Jones, who becomes chief of staff . Other directors to join are Nick Fitzgerald, head of financial planning, Stephen Jones, who heads private client business outside the South-east, and Robin Beer, who runs the firm’s intermediary and charities business.

Zurich UK Life has appointed Jim Sykes as interim chief executive following Gary Shaughnessy’s promotion to Zurich Global Life chief. Shaughnessy led the UK life operation since June 2012, and took on the additional role of UK country head for Zurich in 2014. He is also a board member of the Association of British Insurers, where he chairs the protection committee. Sykes joined the UK Life executive team in September 2012 and is also managing director of the company’s In Force business and is responsible for the UK life operations. He joined Zurich in 1988.

Alliance Trust Investments head of fixed income Rod Davidson is leaving the manager as it closes its Dynamic Bond fund. Davidson is exiting the firm aft er five years at the head of the fixed income business. Stuart Steven will take over his role. The fund will close on 25 February 2016, following FCA approval.

Newton global equity income fund manager James Harries has quit the firm to join Troy Asset Management in a global strategy role. Harries will help to manage Troy’s balanced funds range. At Newton, lead manager of the BNY Mellon Global Equity Higher Income fund Nick Clay will take over the leadership of Harries’ UK-domiciled £4.4bn Newton Global Income fund. Harries had already handed over the lead management of the off shore £2.8bn BNY Mellon Global Equity Higher Income fund to Clay in 2012. Clay has also been the alternate manager of the Newton Global Income fund as well as lead manager of the Irish-domiciled BNY Mellon Global Equity Income fund.

Hermes Investment Management has appointed former Odey Asset Management chief executive David Stewart as its new chairman. Stewart will replace Paul Spencer, who has spent five years in the role, from 1 April. Stewart joined the board in April last year as a non-executive director and chair of the risk and compliance committee.

People on the move Lee Robertson The chief executive of Investment Quorum on representing the industry and the importance of building your network

MY BEAUTIFUL CAREER

What was your first job in financial services?Direct sales with Allied Dunbar, where I joined from the Royal Navy, sort of by accident. While I really enjoyed the sales training, which defi nitely sets you up to be fearless, looking back it was lacking fi nesse and defi nitely emphasised selling above all else.

Describe your current role.As founder and chief executive I continue to see clients but also spend a lot of time on strategic direction, profi le and the marketing of the business. I love to network but with that comes lots of evenings. It is my opinion, however, that anyone who does not put in the hours like this will only end up relying on someone who does. I would much rather be in control of my own – and my company’s – reputation, knowledge and network than rely on outside help.

What is your biggest challenge currently?Quite simply, sourcing good advisers. Many are still struggling to combine the old accepted “sales” skills with technical knowledge, client care and good corporate behaviour.

What is the highlight of your career to date?There is a lot I am proud of both on

The fi nancial world is becoming ever more complex and advisers need to rise to the challenge RDR left us and adapt

a personal level and for Investment Quorum. I really feel that we, among many other fi rms for sure, try to set a very decent standard for what a client-centric, fi nancial planning led wealth management fi rm should look like.

If I was to have to pick just one highlight, however, it would be being asked to represent our sector at the annual Retirement and Savings Summit at Gleneagles each year. It is attended by Government ministers, civil servants, the regulator, and many of the senior management at the product providers. It is this summit at which Callum McCarthy set the RDR in motion and now to be involved and to be able to put the case forward for what so many good fi rms are doing on behalf of clients is a real privilege.

What is your career ambition?To continue to serve our clients in the most ethical, honest and transparent way. They deserve nothing less. The fi nancial world is becoming ever more complex; old allowances and certainties are being amended, downgraded or withdrawn. Advisers need to rise to the challenge RDR left us and adapt to help, either face to face or in a combination with online services. Only then do we ensure that we stay relevant and engaged with our clients.

How would you advise someone starting out in the industry?Start to build your network early. Be constantly curious; learn and engage with as much and as many as you

can. Get to know sector leaders, join your trade body, and

understand what is happening locally and in the wider arena. Above all, be informed and get connected.

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