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Find general insurance and financial services roles with IDEX Consulting LLP

 

Ten CV bloopers

At IDEX, we know it is not easy to find the perfect career move: or for employers to find talented professionals. Thank your lucky stars, though, that you did not make any of these well-known CV Bloopers:

How to Turn RDR into an Opportunity

 
how to turn rdr into an opportunity

The Retail Distribution Review will bring seismic changes to the financial services industry and there is understandably widespread anxiety about its consequences. However there is a more positive way of looking at it; RDR provides an opportunity for proactive firms to gain an advantage over their competitors. Here we provide our guide to getting ahead in the post-RDR world: both for companies and individuals.

Professional recruitment services from IDEX Consulting LLP

 

Three crazy job seeker tactics: which actually worked.

At IDEX, we know that people will go to some extreme lengths to find a new job...

Why RDR is attracting talented graduates to the financial services sector

 
why rdr is a win win situation for recruitment

For years, accountancy has been the go-to profession for bright young talent – financial advice and financial planning barely got a look in and few wanted to join a financial advice firm on graduation.

Globalise Yourself: How Insurance Professionals can Take Advantage of International Job Opportunities

 
Globalise Yourself How Insurance Professionals can Take Advantage of International Job Opportunities info graphic

Insurance professionals increasingly need a global view of the industry. The British market has consolidated since the financial crisis, but there is no reason to limit yourself to the UK when emerging markets around the world are growing much faster than anywhere in Europe. Speaking English is a major advantage in landing an international role and British insurance professionals have a strong reputation, which means emerging markets are crying out for their expertise. We look at the best ways to access the global insurance jobs market.

Four ways to progress your career as a Financial Advisor - Part 2

 
four ways to progress your career as a financial advisor

At IDEX Consulting LLP, we have found employers are looking for certain qualities in financial services professionals. We have outlined the four main ones for you in an article:

Find general insurance and financial services roles with IDEX Consulting LLP

 

Three of the oddest job interview answers

IDEX brings companies together with talented candidates who have the right skills and aligned values and goals. Sending the wrong candidates to job interviews is a waste of everyone’s time, as these extreme examples show:

What you need to know about RDR Now - Info Graphic

 
Nobody said it was going to be easy. It can be a daunting task to confront the complex new regulations of the Retail Distribution Review (RDR), which comes into effect from January 1st 2013. Most advisers have some idea of what it all means, but the number of new rules makes it hard to grasp the full picture. Here is our simple guide to what you need to know - now.

1. What are the RDR rules in a nutshell?

At the moment, advisers need Level 3 awards, such as the Financial Planning Certificate (FPC). However, from January 1st, they will require a Level 4 Diploma, which is the equivalent of the first year of a degree.

To create a level playing field, the Financial Services Skills Council has carefully defined new Appropriate Exam Standards (AES), which determine what must be known by advisers on packaged products.

The new Level 4 qualifications must cover the following: Regulation and Ethics; Investment Principles and Risk; Personal Taxation; Pensions and Retirement Planning; Financial Protection (Level 3); and Financial Planning Practice.

To be fair to students of existing Level 4 qualifications, the Financial Service Authority says they will not need to sit new exams, but they may require ‘qualification gap-fill’.

2. How does it affect me?

Existing advisers fall into three categories: first, those who already have Level 4 qualifications, or above. They will not need to worry about passing further exams, but may require some ‘qualification gap-fill’.

The second category is current students of Level 4, or above, qualifications. They have to complete their exams in order to be qualified, and may also require some ‘qualification gap-fill’.

Finally, there are advisers in neither of these two categories. They have to pass all their Level 4 exams, or they cannot advise on packaged products.

IFAs need to take responsibility for their own qualifications. So start today: order the revision book, make a revision plan and book the first exam.

3. Does everyone have the same January 1st deadline?

There are actually three deadlines for three different groups of advisers.

First, existing advisers who were qualified by June 30th, 2009, must meet all RDR qualification requirements by the December 31st deadline.

Second, existing advisers who qualified after June 30th, 2009, but before January 1st, 2011, do not have to comply with the December 31st deadline. These advisers have an extra 30 months to complete an appropriate Level 4 qualification. Their deadline is, therefore, June 30th, 2013.

The third group is made up of new, or trainee, advisers, who have become competent after January 1st 2011. These advisers have 30 months to complete a relevant appropriate Level 4 qualification from when they start the relevant activity.

4. What is ‘qualification gap-fill’?

An adviser with an existing Level 4 qualification does not need higher examinations, but may need to fill in gaps in their knowledge to meet the new standards. This can be done through a programme of structured Continuing Professional Development (CPD).

The adviser must keep a record of their gap-fill development programme. This should include the gap-fill outcome and a description of how the learning activities have given them the knowledge they need.

CPD assignments carried out in the past can also be used towards gap-filling, as long as they were structured and met the learning outcomes in the gap-fill template.

5. How will RDR affect payment to advisers?

One of the cornerstones of the new RDR rules is a ban on commission and the introduction of adviser charges.

From December 31st, any firm making a recommendation in the UK to a retail client to invest in a retail investment product will no longer earn commission set by the product provider. The firm will instead be paid an adviser charge agreed with the client in advance.

Firms will have to work out a charging structure for calculating the adviser charge. It could be based on a fixed fee, hourly rate, or percentage of funds invested. However, it should be in the client’s best interests.

If your company is still not ready for these changes, you should seriously consider moving to a company which is. Contact IDEX Consulting LLP for advice.

To read more on this topic, register for our newsletter. You’ll gain vital insight on General Insurance and Financial Services from the experts at IDEX Consulting LLP. To register as a candidate, see www.idexconsulting.com

Read the info graphic from IDEX Consulting LLP explaining everything you need to know about the new RDR regulations. Alternatively, go to the interactive info graphic version of What you need to know about RDR now.

How to recruit future general insurance stars

 
four ideas for recruiting the best in the general insurance sector

Talent is in demand in today’s competitive market and the interview process is the first formal impression a candidate makes of your business. Here are some of the steps businesses should take when they are hiring:

Four Ways to Progress Your Career as a Financial Advisor - Part 1

 
four ways to progress your  careeer as a financial advisor

How to Progress Your Career as a Financial Advisor

At IDEX Consulting LLP, we are finding that employees expect candidates to be both superbly qualified as well as having the people skills necessary to bring in new business. Here are the skills and knowledge that we have found job seekers need:

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