| Register
Image 2024 04 21 T11 24 36

Financial Services

With experience across more than twelve financial service sectors and an established network of over 70,000 professionals we can connect specialist talent to the right business. Looking for a new financial services job or for exceptional talent? Take a look at our offering below.

Image 2024 05 22 T15 50 30
  • Image 2024 04 21 T11 24 36

    OUR FINANCIAL SERVICES EXPERTISE

    Financial Services is core to our consultancy. With 238 combined years of market experience, our consultants are experts in their field, many having worked in the sectors they recruit for. We cover more than 12 specialist areas including; Financial Planning, Wealth Management, Commercial Banking, and Pensions & Actuarial, helping UK and international businesses secure skilled professionals. 97% of our Financial Services placements are still in place after five years.

    ​​​​​See latest jobs

  • ​“Rehana was both friendly and professional the whole way through the process. She put me at ease and ensured I was well prepared for the interview. Rehana took into consideration all my requirements and matched me to a role that was exactly right for me and my circumstances. I would definitely recommend her to others.”

    Rehana Sadiq, Senior Consulting, Financial Services
    Rehana Sadiq, Senior Consulting, Financial Services

  • ​“Rehana was one of 5 recruiters to try and offer me a job, but was the only one to actually ask me about where I’d like to work and genuinely listened. She used her contacts and experience within the industry to land me the exact job I wanted, with the company I’ve wanted to work for, for a long time - so her results speak for themself. Rehana was a dream to work with from start to finish and if I ever decide to move jobs in the future I will look no further than her.”

    Rehana Sadiq, Senior Consultant Financial Services
    Rehana Sadiq, Senior Consultant Financial Services

  • ​“Thank you for all your help, Louise! Must say I’m very impressed with you and the way you have been so on the ball and efficient. I have registered with a few recruitment services and not one of them got back to me after my initial contact, but you have been amazing!”

    Louise Bibb, Regional Manager Financial Services
    Louise Bibb, Regional Manager Financial Services

  • ​“Lynn was amazing and had me set up with interviews within a day or two. I wouldn’t have managed this myself and I am so very grateful for all of her help and support during this process.”

    Lynn Wilson, Senior Consultant Financial Services
    Lynn Wilson, Senior Consultant Financial Services

  • "​Ashlea spent three years trying to contact me - that is tenacity!! It paid off because when I was ready to leave my job her name was very familiar to me, so I was happy to have a chat. She does her homework and does not try to fit a round circle into a square hole. She actually takes time and care in selecting the right candidates for the roles she has and therefore both parties are happy with the outcome. She was incredibly professional and responsive making sure that the interview and enrolment process was moving forwards quickly. She builds rapport easily and consequently, I find her very easy to talk to. Would highly recommend. Thank you Ashlea - I am happy to be working again!"

    Ashlea Walton, Client Director Financial Services
    Ashlea Walton, Client Director Financial Services

  • ​"I can't thank Alison MacMillan enough for her dedication and professionalism in helping me to secure a fantastic new role with one of the top companies in the UK. Friendly and approachable, she has been extremely supportive throughout the whole journey.She is extremely proactive, knowledgeable, polite, and supportive. She has a genuinely positive, can-do attitude and worked with me to better understand the roles that I was genuinely interested in - rather than blindly sending lists of unsuitable vacancies. Highly recommend."

    Alison MacMillan, Executive Director Financial Services
    Alison MacMillan, Executive Director Financial Services
Risk & Compliance

Risk & Compliance

Our Risk & Compliance consultants know how difficult it is to attract highly skilled professionals who understand the complexities of the risk, compliance and regulatory market. They have ove...

View details
Image 2024 05 20 T13 02 15

LATEST JOBS Financial Services
View jobs

Financial Coach

Cardiff
£30000 - £40000 per annum

Are you passionate about empowering individuals to take control of their financial future? We are looking for a dedicated Wealth Guidance Specialist to support both existing and prospective clients who prefer to make their own financial decisions. In this role, you will provide guidance on essential financial concepts, including goal setting, account structure, taxation, risk, and investment choices. Your expertise will empower clients to make informed decisions and achieve their financial goals. This is an exceptional opportunity for diploma-qualified professionals to work with a diverse client base, hone their skills, and gain valuable experience from one of the country's most prestige firms. Key Responsibilities Deliver clear, accessible guidance on financial planning concepts, helping clients understand topics such as goal setting, taxation, and investment strategies. Take charge of your own schedule as clients book appointments directly via the website. Prepare for each call using internal resources and conduct any necessary research on specific client queries. Identify when clients require more specialsed support and connect them with appropriate financial planning and investment management experts. Essential Skills & Attributes Strong understanding of holistic financial planning topics Skilled at gathering client information using open and closed questions, with a personable and empathetic approach. Ability to tailor communication style to suit clients with varying levels of financial knowledge Build strong working relationships with internal teams to ensure a seamless client experience. Qualifications: Diploma qualified (Dip PFS) or equivalent. This firm offers a variety of benefits including a flexible/hybrid working, a generous bonus, private medical insurance, an excellent pension structure, and much more. If this role sounds like it could be for you, and you would like some more information please send your CV to Samantha.durbridge@idexconsulting.com Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Financial Coach

Bristol
£30000 - £40000 per annum

Are you passionate about empowering individuals to take control of their financial future? We are looking for a dedicated Wealth Guidance Specialist to support both existing and prospective clients who prefer to make their own financial decisions. In this role, you will provide guidance on essential financial concepts, including goal setting, account structure, taxation, risk, and investment choices. Your expertise will empower clients to make informed decisions and achieve their financial goals. This is an exceptional opportunity for diploma-qualified professionals to work with a diverse client base, hone their skills, and gain valuable experience from one of the country's most prestige firms. Key Responsibilities Deliver clear, accessible guidance on financial planning concepts, helping clients understand topics such as goal setting, taxation, and investment strategies. Take charge of your own schedule as clients book appointments directly via the website. Prepare for each call using internal resources and conduct any necessary research on specific client queries. Identify when clients require more specialsed support and connect them with appropriate financial planning and investment management experts. Essential Skills & Attributes Strong understanding of holistic financial planning topics Skilled at gathering client information using open and closed questions, with a personable and empathetic approach. Ability to tailor communication style to suit clients with varying levels of financial knowledge Build strong working relationships with internal teams to ensure a seamless client experience. Qualifications: Diploma qualified (Dip PFS) or equivalent. This firm offers a variety of benefits including a flexible/hybrid working, a generous bonus, private medical insurance, an excellent pension structure, and much more. If this role sounds like it could be for you, and you would like some more information please send your CV to Samantha.durbridge@idexconsulting.com Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Independent Financial Adviser

West Midlands
£50000 - £75000 per annum + benefits package

My client is seeking an IFA to join their progressive and client-focused, financial planning-led wealth management firm as an employed adviser. Following a recent acquisition they have an opportunity for an experienced Financial Adviser to inherit a good quality book of clients to service and develop further. This role offers home based / remote working with access to a local office. In return: £50,000 - £75,000 basic salary + car allowance Excellent Bonus Scheme Paraplanning and Administrative support Key Responsibilities as our Independent Financial Adviser will include: Reviewing and responding to clients changing needs and financial circumstances, keeping Introducers and Clients up to date with new financial products, or changes to legislation that may affect their Clients' pensions, savings, investments and financial plans. Develop new business from new/existing clients and professional introducers and company leads. Developing and maintaining good client & introducer relationships through meetings and seminars. Conducting in-depth reviews of clients financial circumstances, current provision and future aims and objectives whilst analysing information, conducting research and preparing financial planning reports best suited to the individual client requirements covering all areas of advice. What we are looking for in our ideal Independent Financial Adviser: Diploma in Regulated Financial Planning (or FCA approved equivalent) and to maintain CF30 status in accordance with the FCA regulations. Clear demonstration of a client focused approach with a well presented and articulate manner and dedication to doing the right thing for clients. Excellent interpersonal skills, approachability, and professionalism. Harnessing IT skills to embrace the new virtual/digital ways to communicate with clients. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Senior Paraplanner

Cheltenham
£45000 - £55000 per annum + Bonus

I'm currently partnered with a national independent financial planning firm, who are looking for a Senior Paraplanner to join their team in Cheltenham. This company holds an outstanding reputation and has over eight offices located all across the country. This role requires a highly experienced individual with strong technical expertise, as you will be supporting one of the firm's primary Advisors. Key Responsibilities Assess clients' financial needs and recommend solutions. Prepare suitability reports for Financial Planners. Use financial tools to support advice and evidence client objectives. Ensure accurate client data and maintain CRM records. Research and gather information on financial plans. Submit and track business applications, ensuring compliance. Support client communications and resolve issues. Ensure regulatory compliance and support complaint resolution. Essential Skills & Experience Need to live commutable distance from Cheltenham. Diploma in Regulated Financial Planning. 3+ years as a Paraplanner. Strong knowledge of pensions, investments, and compliance. Skilled in report writing, communication, and case management. IFA support experience, with attention to detail and deadlines. Benefits Pension, private medical, income protection, and life cover. Generous holiday, flexible working, and subsidised parking. Employee-focused, supportive work culture. If this role sounds like it could be for you, and you would like some more information, please send your CV to Samantha.durbridge@idexconsulting.com Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Paraplanner

Birmingham
£35000 - £40000 per annum

A national financial advice firm is looking for a Paraplanner to join their growing team. This role will provide paraplanning support to Planners, ensuring high levels of client service and compliance are delivered. Key Accountabilities Include Preparing client files and client reviews. Building cash flow models. Preparing recommendations and suitability reports. Identifying areas for planning. Undertaking research both independently and with the Financial Planner to identify suitable solutions to meet the clients need. Preparing information/comparisons for analysis by Planner Overseeing implementation of recommendations, completion of application forms and ensuring all compliance is in order. Establishing and building strong relationships with clients. Person Specification Knowledge Excellent understanding of the financial planning process. Good technical knowledge in a wide range of product areas - pensions, investments, IHT planning, tax planning, protection. Excellent suitability report writing skills. Keep up to date with new product, technical and legislative changes within the marketplace. Experience Experience in a Paraplanning role. Experience using client cash-flow modelling software preferable. Qualifications Diploma in Financial Planning or equivalent. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Chartered Financial Planner

Nottingham
£85000 - £110000 per annum + Bonus

A leading DFM business are looking for an additional Financial Planner to join their busy offices in Nottingham. The successful candidate will have responsibility for the development and subsequent management of a financial planning client base. You will lead business development activities, aligned to the group strategy and work to exceed targets. You will have a comprehensive understanding of core Financial Planning solutions and will have built knowledge through exposure to client planning scenarios. The business has capacity for you to inherit HNW clients when you join, giving you a very supportive environment and opportunity to quickly learn processes and allow you to hit the ground running by getting out to meet with long-standing clients. The businesses offers a collaborative culture that enjoys each others successes and demonstrates longevity across the team. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Financial Planner

London
£70000 - £90000 per annum

I have an exceptional opportunity for a high-calibre, experienced Chartered Financial Planner to join this prestigious, award-winning, boutique Chartered Financial Planning practice. Offering technology led, full-service advice this company truly encapsulates next generation financial planning using cutting edge behavioural finance research and lifestyle modelling software. Self-sufficient employed advisers have the opportunity to grow an already well established client book. As well as gain additional clients via their internal client handover process and ever growing successful, quality acquisitions. Would this be of any interest to you? Independently owned & managed with no asset or investment targets. Ultra-modern, fully digitised, market leading technology. Quality lead pool and potential client book. Hybrid role - agile and flexible working policies. Being part of a company, whose ecosystem has teamwork, collaboration and support at its heart. Offering: Highly sought after financial package(s) and benefits. Option of 'enhance bonus reward/validation package' - significant guaranteed bonus for first 3 years or fantastic bespoke 'service package'. Real career development including sales management & opportunities to grow your own team. Full chartered paraplanning/administrative/PA support. Diverse, relaxed, ultra-modern working culture. Would you be interested in being part of a brand that has become synonymous with outstanding Client service, quality advice and world class asset investment? Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

Risk and Health Consultant

London
£50000.00 - £60000.00 per annum

Supporting an established global player in the market to recruit a Senior Group Risk Consultant who has experience managing large corporate clients Whether you're currently at another consultancy looking to progress your career or an insurer background looking to move across, I'd be keen to chat Day to day, you'll be responsible for a portfolio of complex Group Risk clients with leading global brands delivering consulting advice and people risk management strategies Looking for someone who is a strategic big picture thinker, growth minded and entrepreneurial who is client and solution focused Please note, you must be able to get to London 2-3 days per week. Visit the IDEX Consulting Ltd website for further opportunities. Please note that the information supplied may be retained for up to 10 years for use in connection with future vacancies. For full information on how we use your data, please visit the IDEX Consulting website and view our Privacy Policy. Our Diversity, Equity and Inclusion Mission At IDEX, we strive for an inclusion-first company culture where everyone is treated fairly and can bring their authentic selves to work. We recognise and acknowledge that diverse representation at every level of our business requires continuous and measurable effort. We are committed to driving conscious inclusion across our business and creating equitable pathways.

Apply now

LATEST CONTENT

Blog Thumbnails New Size (38)
Blog Thumbnails New Size (38) financial services
The wealth management talent shortage and how to tackle it

​What would typically be a natural cycle of one generation handing knowledge and expertise to the next, is now a cross-roads with a lack of young professionals entering the wealth management profession. This shortage of younger talent leaves a fundamental gap that could reshape the industry. A departing workforce paired with a declining pipeline of new advisers has firms questioning what they can do to address the issue and how they can attract a new wave of young professionals.“The wealth management industry is facing a significant talent shortage, fuelled by shifting priorities among younger generations, who increasingly prioritise a more flexible work-life balance and purpose over traditional career paths. However, this challenge presents an opportunity for businesses to rethink their approach so they can attract and retain the next wave of talent. With the right strategy, firms can overcome the talent gap and also position themselves for long-term success in an evolving market,” says Graeme Hyland, Business Manager at IDEX Consulting. To put the scale of this situation into context, research has found that nearly 50% of wealth management professionals plan to retire by 2029 (International Adviser: One in two UK financial advisers plan to retire during the next five years). Along with the significant drop of professionals in the industry, only 4% of workers in the UK have considered a career in financial advice due to limited awareness of the profession and it’s benefits (FT Adviser: Only 4% of UK have considered career in financial advice). The lack of interest to enter the field brings the average industry growth rate far below other professions. To look at the current wealth management workforce, only 6% of advisers are under the age of 30 years old which points towards a severely ageing industry (FT Adviser: Only 6% of advisers are under 30 years old). There is a need for firms to reassess their approach to recruitment, training, and retaining the next generation of advisers to ensure the future success of the profession. If younger professionals don't step in to bridge the gap, firms risk losing new expertise, diversity of thought and driving innovative business practices. What’s causing the talent shortage?The reasons behind the lack of younger people joining the wealth management profession are multi-faceted. Here are a few key factors impacting talent attraction: Perceived barriers to entryMany young people are deterred by the high barrier to entry in wealth management. While the industry offers lucrative career opportunities, the path to becoming a financial adviser often requires a combination of advanced education, certification, and a significant amount of mentorship or on-the-job training. Additionally, the need to build a client base from scratch can feel daunting to younger people, who may not have the personal networks, knowledge or resources to get started. Some firms have battled the negative perceptions surrounding the industry with inclusive campaigns to attract younger people from diverse backgrounds and create a more accessible industry (Advisors: Wealth Managers Fear UK Talent Shortages To Stay Or Worsen). Changing career prioritiesThe younger generation, particularly Gen Z and millennials, have different career priorities compared to older generations. Flexibility, work-life balance, and a clear sense of purpose are high on their list. Wealth management, traditionally known for long hours and demanding workloads, may not always align with these values (Consultancy UK: Firms struggle to adapt to expectations of Gen Z). Many young professionals may instead be drawn to careers in technology, marketing, or other industries that offer more flexibility and innovation.Lack of awareness and outreachWhile wealth management offers a fulfilling and well-compensated career path, it often lacks the same visibility as other fields, like technology or other areas in finance. Financial advising may not be top of mind for students or early-career professionals because it is often viewed as a niche role, overshadowed by more prominent careers in banking, consulting, or investment management (Detailed Guide: Wealth Management vs. Investment Banking). Without active recruitment and awareness-building, firms are missing out on young talent who might not even realise wealth management is an option for them.Technology disruptionThe rise of technology and digital tools has also had an impact on the profession. While technology can enhance the client experience and streamline processes, it has also created a perception that wealth management is becoming more automated (MIT Sloan: Can generative AI provide trusted financial advice?). Many younger professionals are concerned that automation and artificial intelligence will replace the human element of the job, diminishing the need for traditional financial advisers. How firms can attract the next generation of talentHere are a few actionable strategies to attract a new workforce into the wealth management industry:Reframe the narrativeWealth management firms need to reframe how they talk about the profession. Rather than focusing solely on the numbers or the technical side of financial planning, firms should emphasise the impact of the work. For instance, by showcasing what they do to help individuals, families, and businesses achieve their financial goals and create lasting legacies. By positioning wealth management as a career that makes a tangible difference to people’s lives, firms can appeal to younger professionals who are driven by purpose (Forbes: Why A Purpose-Driven Approach Is Crucial To Your Wealth Management Business).Offer flexible working environmentsTo align with the preferences of younger professionals, firms should consider offering more flexibility in terms of work hours and remote work options. Hybrid or fully remote models are especially attractive to millennials and Gen Z, who value work-life balance and autonomy. Demonstrating care for people’s work-life priorities through action is more effective than trying to communicate this through words when acquiring new talent (Dow Jones: How Financial Advisors Can Reach Younger Generation). Firms that offer flexibility will be more likely to attract younger candidates who might otherwise be deterred by rigid, traditional work environments. Invest in professional developmentDespite a tight labour market, hybrid working, and progressing worker expectations, many young people are still looking for careers that offer growth and learning opportunities. Firms can appeal to this by investing in robust professional development programmes, mentorship opportunities, and clear career progression paths (Broadridge: Wealth Management Firms Need a New Approach to Attract Young Talent). A structured training programme that allows young advisers to learn the ropes while working alongside experienced professionals can also make the job more accessible and approachable. Offer competitive compensation and incentivesWhilst work-life balance and purpose-driven careers are important, compensation is still a critical factor. Firms need to offer competitive salaries, benefits, and performance-based incentives to attract top talent. Additionally, offering opportunities for advancement can provide long-term incentives that keep younger advisers motivated and committed to the firm. Check if you are offering prospective employees the right salaries that are in line with market expectations using our free 2025 Salary Guide and Market Sentiment report. Our expert consultants are available to assist with your talent strategy, business transformation needs, or discuss our services and solutions. If you’d like further details or simply wish to have an informal conversation, don’t hesitate to reach out. Sources:Broadridge: Wealth Management firms need a new approach to attract young talentConsultancy UK: Firms struggle to adapt to expectations of Gen Z Dow Jones: How Financial Advisors can reach younger generationsForbes: AI Is taking over accounting jobs as people leave the professionForbes: Why a purpose-driven approach is crucial to your wealth management businessFT Adviser: Only 6% of advisers are under 30 years old FT Adviser: Only 4% of UK have considered career in financial adviceInternational Adviser: One in two UK financial advisers plan to retire during the next five years | International AdviserJLL Research: Financial services firms rethink their wealth management strategiesMergers & Inquisitions: Wealth Management vs. Investment BankingMIT Sloan: Can generative AI provide trusted financial advice?Wealth Briefing: Advisors, Wealth Managers fear UK talent shortages to stay or worsen
Blog Thumbnails New Size (35)
Blog Thumbnails New Size (35) financial services
The biggest challenges facing Financial Advisers

Financial advisers today face many challenges in their day to day roles due to increased work pressures, a challenging economic climate and growing client demands. Recent advancements mean professionals in the industry are required to juggle various responsibilities, growth targets and duties. “2024 has been quite a turbulent year for professionals in the financial advice sector. An uncertain economy, fluctuating inflation rates, changing regulations especially around the Consumer Duty and a talent shortage has added pressures and work strains to jobs and responsibilities. However, 2025 brings new opportunities, especially around the adoption of technology. Those firms who deploy tech solutions quickly will see huge advantages, especially around risk management, efficiency and revenue”, says Alex Merrick, Client Director, Financial Services, IDEX Consulting.  If you’re considering your career options across the Wealth Management sector or need support with your hiring strategy get in touch with Alex Merrick, who will be happy to help. ChallengesEconomic pressures The financial industry continues to face unique pressures and continued uncertainty. Financial advisers in particular are navigating a challenging economic environment seeing slow growth and high interest rates. When looking at the current state of investment plans against the cost of living crisis, 53% of advisers reported that some clients have needed to change their investment plans (Schroders: What are the key challenges facing financial advisers in 2023?).Regulators are moving forward with stricter standards as Brexit prompts changes to EU-based regulations. The FCA has recently investigated the internal practices and processes within financial firms and remains focused on enforcing Consumer Duty (FCA: Consumer duty implementation good practice and areas for improvement). Maintaining compliance with updated regulations can be expensive as well as time consuming. In addition, the link between Consumer Duty and ‘price vs value’ will add pressure on advisers to effectively communicate the value of navigating clients through turbulent market conditions.The recession is yet another threat financial advisers are facing. Being a natural part of the economic cycle, 2025 will not be the first nor the last time the risk of recession occurs. The outcomes of a recession can be catastrophic for firms that are not sufficiently prepared (RocketFin: Facing the future: the top challenges for financial services companies in 2024).To mitigate risk, firms should establish a robust risk management framework. Frameworks should incorporate stress testing and scenario analysis along with contingency plans that are tailored to managing risks associated with any potential recession (McKinsey: Derisking AI: risk management in AI development). With the tax changes announced by the government financial advisers must ensure they have the necessary intelligence and data to advise clients on their investments in an informed and timely manner (Financial News: What concerns UK financial advisers in 2024).Inflation and client expectations The relationship between money and emotion is a psychological area that financial advisors will be acutely aware of and able to manage. Requiring ongoing effort, advisors must continuously show the value they bring to a client’s wealth portfolio, investment returns and interest rates. With interest rates remaining near historic lows, it has been tough for those who rely on income from their investments. Advisers have frequently added higher-risk assets to portfolios but there is a potential for these to lose value with inflation and rising interest rates (Lloyds Bank: What is inflation and what does it mean for your money). Over the past couple of years inflation has surged to an unprecedented 20-year-high which has landed financial planners and advisers in an unfamiliar environment, facing a new level of the ‘unknown’ (Professional Adviser: Inflation and financial planning – focusing on the bigger picture). The amount of uncertainty has created scenarios where advisers are unable to use old data modelling and financial analytics to justify market predictions and assumption, leading to increased client scrutiny and potential risk of diminished trust. Artificial intelligenceArtificial intelligence should be integrated strategically to enhance an already well-functioning system that is based on human connection, skill, and empathy. Increased reliance on technology has the potential to create an environment which neglects social skills essential for the profession. In a similar way to how financial advisers warn clients against impulse investment decisions led by herd mentality, the same caution must be applied to artificial intelligence (GOVUK: The benefits and harms of algorithms: a shared perspective from the four digital regulators). Failure to do so could create devastating financial outcomes for clients and a risk of credibility damage for financial advisers. Another crucial challenge which impacts financial advisers is the implication AI has on fraud, making it more seamless and frequent across the industry. Financial advisers are targeted with convincing communications every day, making the likelihood of a hacking incident more of a ‘when’ rather than an ‘if’ (FTAdviser: How to assess AI’s threats and opportunities). Financial advisers invest a huge amount of time and effort building client relationships which can be easily sabotaged with a cyber-attack. Open communication, trust, strong client relationships and empathy is the foundation of effective financial advice practice, which AI cannot replace. (IFA Magazine: Before AI met wealth management & the tech challenges we forget about). AI tools can be misleading, resulting in inaccuracies, technical errors and misguided algorithms. Tools and software systems must therefore be seen as a powerful addition rather than a reliable holistic solution.Although there are risks associated with AI, it also offers a number of opportunities especially regarding automation and speed. Financial Advisers who use voice-controlled automated financial planning software are able to better inform their clients.If you’re looking for support with your hiring strategy or looking for a new career opportunity contact one of our Financial Services consultants.​Sources:Before AI met wealth management & the tech challenges we forget about - IFA MagazineFCA: Consumer duty implementation good practice and areas for improvementFTAdviser: How to assess AI’s threats and opportunitiesFTAdviser: Ignoring AI is the biggest threat to adviser survivalFinancial News: What concerns UK financial advisers in 2024GOVUK: The benefits and harms of algorithms: a shared perspective from the four digital regulatorsIFA Magazine: Before AI met wealth management & the tech challenges we forget aboutLloyds Bank: What is inflation and what does it mean for your moneyMcKinsey: Derisking AI: risk management in AI developmentProfessional adviser: Inflation and financial planning – focusing on the bigger pictureRocketFin: Facing the future: the top challenges for financial services companies in 2024Schroders: What are the key challenges facing financial advisers in 2023?
Fs Nl Web Thumbnail
Fs Nl Web Thumbnail Newsletter
Financial Services newsletter Friday 29th November 2024

​Financial Services NewsArtificial Intelligence: opportunity or threat? - Artificial Intelligence presents both significant opportunities and challenges. While it offers immense potential for efficiency and innovation, it also raises concerns about job displacement, ethical implications, and security risks. In the insurance and financial sectors, AI can streamline processes and improve decision-making, but it must be managed carefully to avoid unintended consequences. Balancing these factors will determine how AI impacts industries moving forward. (IDEX Consulting news, 'Artificial Intelligence: opportunity or threat?')Flexible working bill: what you need to know - The Flexible Working Bill, effective from 2024, enhances employees’ rights to request flexible working from the start of employment. It allows two requests annually, requires quicker employer responses, and removes the need for justification. Employers must still handle requests reasonably but they now face new obligations to discuss alternatives if a request is denied. These changes are significant for businesses aiming to support a healthy work-life balance while maintaining operational efficiency. (IDEX Consulting news, 'Flexible working bill: what you need to know')2024 FS M&A trends - 2024 has seen strong financial services M&A activity, driven by private equity investments, digital transformation, and regulatory challenges. Trends include heightened interest in fintech and regtech, increased insurance sector deals, and strategic consolidations to boost efficiency and innovation. (IDEX Consulting news, '2024 FS M&A trends')What does Consumer Duty mean for the Financial Services sector? - Consumer Duty emphasises the need for financial services firms to act in the best interest of their customers, ensuring products and services are suitable, fairly priced, and easily accessible. It introduces regulatory obligations to prevent harm, enhance transparency, and improve customer outcomes. This shift will reshape how firms manage their relationships with clients, making consumer protection a top priority. (IDEX Consulting news, 'What does Consumer Duty mean for the Financial Services sector?')A survey by NextWealth, commissioned by Schroders Capital, Franklin Templeton, and Aviva Investors, reveals compliance concerns and platform availability hinder UK advisers from investing in private markets, with only 2% of UK-advised assets allocated compared to 15% globally, and 80% of advisers not planning changes. (Selin Bucak, 7/11/2024, Citywire Wealth Manager, 'Advisers reticent about investing in private markets, survey finds')Industry veteran Ken Davy has warned the CII risks damaging the Financial Planning profession over its dispute with the Personal Finance Society (PFS), suggesting a breakaway PFS could emerge if unresolved. Davy, an honorary CII fellow and founder of SimplyBiz, expressed "increasing sadness" over the conflict, centered on the PFS’s direction and use of funds. (Financial Planning Today, 21/11/2024, 'Industry leader Davy says independent PFS 'possible')Seven firms, including several Financial Planning companies, achieved Corporate Chartered status with the CII in September and October 2024, recognizing their technical competence and commitment to professional standards. The firms include Augustine Limited, Avoca Wealth Management, Better Financial Planning, Park Insurance, Sedulo Wealth Management, SGM Financial Management, and Suttons Independent Financial Advisors. (Financial Planning Today, 7/11/2024, '7 firms achieve Corporate Chartered status')Wealth Club has launched a semi-liquid funds platform, offering UK high-net-worth investors access to private equity, credit, and infrastructure strategies from top managers like Apollo and Schroders, with a £10,000 minimum investment. (John Schaffer, 12/11/2024, Citywire Wealth Manager, 'Wealth Club launches first semi-liquid platform for HNW UK investors')Defined benefit pension transfer values dropped 2% in October to £153,000, their lowest in a year, driven by rising gilt yields amid investor uncertainty over the Chancellor's Budget, according to XPS. (Financial Planning Today, 27/11/2024, 'DB pension transfer values fall following Budget')The FCA's upcoming advice guidance proposals aim to clarify the distinction between advice and guidance, providing consumers with better understanding of their pension and investment choices. Speaking at TheCityUK National Conference, COO Emily Shepperd highlighted efforts to offer targeted support, enhance value for savers, and explore investment options with potentially higher returns and adjusted risk profiles. (Financial Planning Today, 27/11/2024, 'FCA advice shake up to focus on pensions')Complaints to the Financial Ombudsman Service rose over 50% year-on-year to 73,692 between July and September, with personal pensions leading at 1,272 complaints—nearly triple those for stocks and shares ISAs at 489. (Financial Planning Today, 27/11/2024, '50% rise in complaints to Financial Ombudsman'Financial services are set to lead salary growth in 2025, with pay budgets projected to rise by 5%, outpacing the UK median of 3.5%, driven by competition for talent and demand for expertise in risk, compliance, and technology, according to 3R Strategy's Global Salary Planning Report. (Financial Planning Today, 26/11/2024, 'Financial services to top salary growth table')A Phoenix Insights report reveals 64% of self-employed workers aged 60-65 have no private pension savings, amid a surge in self-employment among over-50s and the over-60s now being the fastest-growing group of self-employed workers. (Financial Planning Today, 21/11/2024, 'Most self-employed 'Boomers' hold zero pension savings')The FCA plans to hold round tables with smaller advice firms in early 2025 to discuss introducing cheaper, simplified advice services, aiming to make support more accessible. The regulator seeks to collaborate with firms on testing options for a streamlined, lower-cost advice process. (Financial Planning Today, 18/11/2024, 'FCA to consult small IFA firms over advice shake-up')A survey by Icit Business Intelligence found 85% of finance professionals use AI-powered Financial Planning tools, with two-thirds saving 50–200 hours annually and companies reporting £50,000–£100,000 in yearly savings. 59% said AI improves decision-making through accurate forecasts and real-time analysis. (Financial Planning Today, 7/11/2024, '4 in 5 finance professionals using AI-enabled software')Scottish Widows Platform has integrated ATEB Suitability software to streamline suitability report writing for advisers, automating data transfer and reducing manual input. This follows earlier updates, including CURO for bulk valuations and tools like Voyant and EVPro for financial modelling. (Dan Cooper, 27/11/2024, Money Marketing, 'Scottish Widows Platform adds new software to simplify adviser reporting')Research by NextWealth shows 72% of advisers are ending more client relationships in 2024, with 58% planning increased offboarding in the next year. While 46% feel obligated to clients, many are parting ways with those with simpler needs, like small pension pots or ISAs, to demonstrate fair value. (Lois Vallely, 27/11/2024, Money Marketing, 'Regulation and profitability forcing advisers to offboard clients')Aviva has launched a new Shariah-compliant lifestyle investment strategy, offering a suite of funds and a de-risking option for workplace pensions, designed to mirror its existing strategies and ensure consistency, while adhering to Islamic principles and automating risk management throughout the pension journey. (Financial Planning Today, 19/11/2024, 'Aviva launches new Shariah investment strategy')Mergers and AcquisitionsMKC Wealth, backed by Cabot Square Capital, has acquired Warr & Co Independent Financial Advisers and Halstead Independent Financial Management. Warr & Co brings £70m AUA from 140 households, while Halstead adds £90m AUA from 150 households. Co-founder Jeff Crewdson will retire post-handover, with Steve Prosser and team joining MKC's Stockport office. (Financial Planning Today, 25/11/2024, 'MKC Wealth acquires 2 firms in Greater Manchester')Tavistock has acquired asset manager ABP, adding £3bn in AUM, as it refocuses on providing investment solutions to advice firms and retail clients. ABP, founded in 2017, specialises in outsourced investment for regulated advice businesses. Tavistock will pay £6m upfront, with performance-based payments capped at £18m. (Financial Planning Today, 22/11/2024, 'Tavistock acquires £3bn AUM asset manager ABP')The Penny Group, the largest firm within the Openwork Partnership, has acquired Surrey-based Whiting Financial, adding £90m in assets under advice. This acquisition brings the group’s total assets to £1.2bn, serving 3,500 clients. Whiting Financial, founded in 1987, will continue to operate from its Farnham office while integrating into The Penny Group over the next year. (Financial Planning Today, 22/11/2024, 'Chartered Planner adds £90m AUM with Surrey acquisition')Birmingham-based Margetts Wealth Management has completed a management buy-in, with Directors Ian Butler and James Vickers acquiring equal shares in the firm. The duo, both with over two decades at the firm, join existing owner Kevin Smith. The buy-in ensures the firm’s continued independence and manages over £230m of assets for 350 clients, including business owners and professionals. (Financial Planning Today, 21/11/2024, 'Birmingham adviser completes management buy-in')Succession Wealth, owned by Aviva, has acquired Leeds-based True Wealth Group, adding £1.1bn in assets under advice and marking its third acquisition of 2024. This follows the purchases of DFP Health & Wealth Management and London Wall Partners, collectively bringing £2.2bn in assets.(Financial Planning Today, 18/11/2024, 'Succession Wealth snaps up £1.1bn AUA True Wealth')Beaufort Wealth Management, a Warwickshire-based IFA firm, has completed a management buyout, with Founders Phil Hart and Ravinder Ghuman buying out Co-Founder Ian Adey, who will remain as a Consultant. Established in 2007, the firm provides financial advice to both retail and corporate clients, covering areas such as investments, pensions, employee benefits, and succession planning. (Financial Planning Today, 18/11/2024, 'Beaufort Wealth Management completes MBO')Leicester-based WBR Group, specialising in SSASs and tax advice, has acquired SSAS administrator NM Perris & Co Ltd for an undisclosed sum. The deal adds 200 SSAS schemes and £300m of assets under administration, along with a new office in Bristol. The acquisition includes Brunel Trustees and Omniphi Systems, which will continue to operate under their current names. (Financial Planning Today, 13/11/2024, 'WBR acquires Bristol-based SSAS administrator')Fast-growing wealth manager Advanta Solutions, owner of Chartered Financial Planner Advanta Wealth, has acquired City Financial Planning, adding £800m of assets under management (AUM). With offices in Bath and Exeter, this acquisition marks Advanta's second in 2024 and its ninth overall. CEO Craig Webster highlighted the significance of expanding into Bath and Exeter and praised City Financial Planning's strong client reputation. (Financial Planning Today, 11/11/2024, 'Advanta snaps up £800m AUM south west Planner')Adviser Services Holdings Ltd (ASHL) has agreed to sell its LYNC Wealth Management arm to an affiliate of 7IM, marking its second sell-off in a week after offloading Rockhold Asset Management to 7IM. ASHL, established in 2020, has built independent and restricted advice networks with over 450 advisers and £9bn of assets under advice. The deal, which involves LYNC’s 60 staff including 28 advisers, is subject to regulatory approval, but the cost has not been disclosed. (Financial Planning Today, 6/11/2024, 'ASHL sells off LYNC Wealth Management')One Four Nine Group has acquired Nottingham-based Castlegate Capital, boosting assets to over £1.6bn. This marks the first acquisition for its new One Four Nine Wealth brand and the group’s tenth overall. Castlegate, serving private and corporate clients since 2016, will rebrand to One Four Nine Wealth, expanding the group’s presence in the Midlands. (Financial Planning Today, 6/11/2024, 'One Four Nine acquires Chartered Financial Planner')Brooks Macdonald has acquired Welsh Chartered Financial Planning firm CST Wealth Management for an undisclosed sum, adding £170m in assets under advice and 500 clients, expanding its presence in Wales and supporting growth in Financial Planning. (Financial Planning Today, 5/11/2024, 'Brooks Macdonald snaps up £170m AUM Cardiff Planner')Perspective Financial Group completed nine acquisitions in October’s second half, adding £1bn in assets under advice, 2,500 households, six new office locations, and 48 staff. The deals expanded the group's national footprint with new offices in Preston, Reading, Rotherham, Teesside, Towcester, and Warwick. The acquired firms include Springfield Financial Services (Preston), Millfield Osceola Financial Consultancy (Reading), Hawley & Wood Ltd (Rotherham), Fortitude Financial Planning (Towcester), Warwick Financial Solutions (Warwick), Edgmoor Financial Planners (Manchester), Keith Mason Wealth Management (Canterbury), a client bank in Teesside, and a self-employed adviser buy-out. (Financial Planning Today, 5/11/2024, 'Perspective adds £1bn AUA with 9 acquisitions')7IM has acquired £2bn AUM MPS provider Rockhold Asset Management from national adviser firm ASHL. The deal, for an undisclosed sum, enhances 7IM’s investment management capabilities and is described as a "strategic acquisition." ASHL, with 451 advisers, owns several brands including Sense Network, LYNC Wealth Management, Lyncombe, and the Academy. The acquisition is subject to Financial Conduct Authority approval. (Financial Planning Today, 1/11/2024, '7IM acquires MPS provider Rockhold from ASHL')​MoversLuna Investment Management has appointed Paul Finnan as a Senior Investment Manager. Previously with Charles Stanley and Brown Shipley, Finnan brings extensive experience managing portfolios for private clients, charities, and family trusts. (Zachariah Sharif, 27/11/2024, Citywire Wealth Manager, 'Ex-Charles Stanley investment manager joins Manchester boutique Luna')Atomos has appointed Joshua Gennet as Investment Head, succeeding Haig Bathgate, who is joining Callanish Capital. Gennet brings 25 years of experience, including roles at Morgan Stanley, BNP Paribas, MSCI, and co-founding Ethical Capital Opportunity Advisors. Rowan Stone, a key figure in Atomos’s sustainable team, has been promoted to Investment Director to support Gennet. Bathgate, who joined in 2022 from 7IM and led the implementation of the WTW investment process, will depart at year-end after completing a five-year growth plan. (Dylan Lobo, 27/11/2024, Citywire Wealth Manager, 'Exclusive: Atomos names new investment boss as Bathgate joins boutique')Christopher Morris, Head of Financial Planning Policy at CISI, will join the FPSB Chief Executive's Committee as an at-large representative for a three-year term starting January 1. Andrea Middel, a founding Partner of DURF Financieel Planners and FPSB Board member since 2019, will become FPSB Board Chair on April 1, succeeding Ana Cláudia Akie Utumi. Middel, a past Financial Planner of the Year in the Netherlands, has chaired the FPSB Professional Standards Committee and served on the FFP Board. Caroline Dabu will serve as 2025 Board chairperson-elect, and Emer Kirk will continue as Chairperson of the FPSB European Forum for another two years. (Financial Planning Today, 20/11/2024, 'CISI’s Morris joins global FPSB leadership team')@sipp has appointed Josh Legg as Business Development Manager to support advisers in the South West with SIPP, SSAS, and commercial property. Legg, with 12 years’ experience, joins from Curtis Banks. Steve Lancaster has been promoted to Chief Operating Officer, overseeing sales, operations, and finance, while Tercia Grindlay steps up as Finance Manager. (Financial Planning Today, 14/11/2024, 'SIPP provider adds SW adviser support specialist')Perspective has appointed Harriet Griffin as Chief Operating Officer, a new role for the firm. With 16 years’ experience at firms like Kingswood and Charles Stanley, Griffin brings expertise in operations, change management, and technology strategy. A Chartered CISI member with an MBA from Cranfield University, she joins the board alongside CEO Ian Wilkinson, CFO David Hesketh, CRO Julie Hepworth, and Head of M&A Sam Ward. (Financial Planning Today, 11/11/2024, 'Perspective appoints new chief operating officer')The Association of Member-Directed Pension Schemes (AMPS) has appointed Debbie Seaton of Seabridge SSAS as its new Chair, succeeding Andrew Phipps. Jon Cuin of Barnett Waddingham will serve as Honorary Secretary, while Tasneem Ul-Haq of Aviva remains Treasurer and Joy West of Hartsfield Trustee Services stays as Membership Secretary. (Financial Planning Today, 11/11/2024, 'AMPS appoints Debbie Seaton as chair')Personal Finance Society interim Chief Executive Don MacIntyre has stepped down after more than two years, having joined in August 2022 to help evolve the PFS's working practices and governance. MacIntyre, who previously served as interim CEO of the UK Cyber Security Council, was unable to secure a permanent CEO, resulting in a 27-month tenure. (Financial Planning Today, 5/11/2024, 'Don MacIntyre steps down as interim PFS CEO')Quilter Cheviot has appointed Colin Rowe, former Managing Director at 7IM, as Head of Advice, pending regulatory approval. With over 20 years of leadership experience in wealth management, Rowe previously served as Managing Director of private clients at Close Brothers Asset Management. (Financial Planning Today, 4/11/2024, 'Quilter Cheviot poaches new head of advice from 7IM')Belmayne, the North Derbyshire firm of Chartered Financial Planners, has appointed experienced Financial Planner Nick Pike to its team in Dronfield. With 25 years in the industry, Pike has a background in teaching, accounting, and investment, specialising in clients with complex financial needs, including older individuals who have come into money. He is the third hire at Belmayne in recent months. (Financial Planning Today, 1/11/2024, 'Belmayne adds to adviser team')Evelyn Partners has appointed Kate Morrissey as Head of Asset Allocation, a newly created role within its central investment team. Morrissey joins from HSBC, where she managed £16bn as head of world selection and global strategy funds over a 23-year career. (Tom Browne, 26/11/2024, Money Marketing, 'Evelyn Partners appoints Kate Morrissey as head of asset allocation')​All information provided in this market digest has been gathered from Citywire Wealth Manager, Financial Planning Today, Money Marketing, and IDEX Consulting.
Blog Thumbnails New Size (34)
Blog Thumbnails New Size (34) financial services blogs
Reports of non-financial misconduct rise dramatically

Reports of non-financial misconduct have risen significantly since 2021, with bullying and harassment, and discrimination listed as key concerns. “Bullying and harassment were identified as significant issues, making up 26% of reported cases, while discrimination accounted for 23% of the reports” (Financial News: FCA’s survey reveals rise in misconduct reports). The FCA is said to have “found a shocking prevalence of sexual harassment and bullying” as well as “a culture which is holding back women” (Financial Times: Bullying and harassment claims rise across City, regulator finds).On the flip side, these increased reports could also suggest firmer internal guidelines on ethical workplace practices raising acceptability standards, and the willingness of employees to report negative behaviours.The published review precedes the FCA’s upcoming policy on non-financial misconduct, which is likely to introduce stricter standards for banks and other firms across the financial services sector  (The Banker: Reports of non-financial misconduct on the rise says FCA).“Earlier this year the FCA asked more than 1000 regulated financial firms including banks, insurers, brokers and market intermediaries, to report all non-financial misconduct. Worryingly incidents across all sectors grew by more than two thirds. The current market is very competitive, and culture is a deciding factor for many professionals when accepting or rejecting a job, in some cases more important than the responsibilities of the role! By being transparent about your culture and taking a strong stand on conduct and company values, you’re more likely to attract top tier talent that your competition won’t have access to. The most successful companies partner with recruiters who have the expertise to promote your company values and brand, ensuring the right message lands well in the market. Not only does this help you hire the best talent, but also helps your brand stay top of mind for professionals,” says Jack Johnson, Business Director for Risk and Compliance at IDEX Consulting.If you’re looking to hire top talent or looking for a new role across the financial services industry, especially in the Risk & Compliance market, contact Jack Johnson who will be happy to provide specialist advice.The concerning results paired with the upcoming FCA policy on non-financial misconduct gives firms a crucial reason to proactively raise internal standards and strengthen practices. Findings from the review are offering firms the chance to improve their workplace culture in ways that strengthens accountability and integrity whilst reducing risks associated with inadequate practices.Results from the survey highlight that“92% of firms state that they would highlight examples of non-financial misconduct in a regulatory reference”. A following 87% stated they would go as far as to update a reference following an incident (Latham & Watkins: FCA Publishes Results of Non-Financial Misconduct Survey).Yet, findings from the same investigation confirm that incidents of bullying and other forms of non-financial misconduct in the UK’s finance sector have increased by over 67% in the last three years (Financial Times: Bullying and harassment claims rise across City, regulator finds).The difficulty of definitionIt is important to remember that the nature of this topic presents some challenges and grey areas. The scope of non-financial misconduct ranges from violent assault to bringing pets into the workspace (Financial Times: Bullying and harassment claims rise across City, regulator finds). Given the element of subjectiveness that can exist across the category, particularly in regard to less extreme incidents, some records may be unverified with others containing possible factual errors.The FCA are also facing the challenge of defining what the rise in reports suggests when tailoring an actionable plan for the industry. The regulatory body has expressed concern that the data could be suggesting that firms might be failing to meet expectations in suitable governance and management of non-financial misconduct, including out of date whistleblowing policies (Latham &Watkins: FCA Publishes Results of Non-Financial Misconduct Survey). Uncertainty also arises when factoring in the possibility that an increase in reports could equally imply a positive workplace culture where people feel empowered to speak up. Data therefore always needs to be interpreted with caution.Evolving attitudes towards the workplace environment are another factor to consider during the debate of a ‘good’ vs ‘bad’ culture in light of increased misconduct reports. Improved internal systems have allowed, and even regularly prompted, employees to share their experiences anonymously. Recent years have also seen a significant shift in awareness and education on appropriate workplace behaviour (Travers Smith: FCA findings on non-financial misconduct). Even with a hypothetical absence of formal regulatory pressure, society’s developments and standards on what should be tolerated in corporate culture is enough to equip employees with appropriate information to recognise and challenge misconduct. OutcomesReports show that “disciplinary action or similar was taken in 43% of cases overall” (Latham  & Watkins: FCA Publishes Results of Non-Financial Misconduct Survey). When comparing sectors, insurance companies took disciplinary action in 63% of cases, with 21% of incidents not being upheld, whilst wholesale banks didn’t uphold 45% of instances.The most common forms of misconduct which resulted in disciplinary action were behaviours that included violence, intimidation and sexual harassment. Repercussions involved a written warning, training or coaching, with disciplinary action hardly ever taking into consideration changes to remuneration. Although some cases involving sexual harassment, illegal drugs and violence were likely to result in dismissal.What firms should be aware of Irrespective of the challenges around the topic, the FCA expects firms to assess their internal processes against the latest findings, develop strategies for continued improvement in the workplace, and guarantee that standards for non-financial misconduct mitigation and management are upheld.In addition, to avoiding harmful or unlawful practices, regulatory compliance helps firms build healthy and inclusive cultures, retain talent, protect their reputation and safeguard revenue. Reputational damage, especially in relation to bullying and harassment severely impacts investor interest, results in revenue loss and serious legal consequences. What to do nextThis year marks the first time the regulator has conducted this type of investigation, aiming to enhance transparency across the sector. The FCA has emphasised its expectation for firms to proactively implement processes to improve workplace culture, drive the right behaviours from senior leadership and do everything they can to embed supportive environments. Despite onus on firms to drive changes from board level, 38% of firms reported that boards and board-level committees did not receive information of non-financial misconduct (A-Team: FCA Survey Reveals Gaps in Governance and Policy on Non-Financial Misconduct).In addition, many larger firms expressed concern that they lacked a formal governance structure to oversee disciplinary actions.FCA’sExecutive Director of Markets and International Sarah Pritchard, emphasised the need for firms to use the information at hand to assess their own cultures and processes, stressing the importance of healthy workplace culture and warning the risks associated with neglecting non-financial misconduct (FCA: FCA Publishes Results of Non-Financial Misconduct Survey).The outcome of this investigation has revealed notable gaps in policies and procedures for firms across the financial services insurance sectors, especially around out of date practices which are failing to meet FCA guidelines. The FCA believes this review will drive ongoing improvements in culture, although they will not be issuing new best practice recommendations at this time. Instead, the regulator expects firms to use the data provided to effectively detect and address issues. Full compliance with existing regulatory responsibilities and reporting requirements is mandatory with any short-fallsset to result in negative consequences for firms (FCA: Culture and Non-Financial Misconduct Survey – Findings). For more information on the data shared in this article or if you’re looking for support with your hiring strategy speak to a consultant who can assist in providing market intelligence, and a range of hiring solutions.​Sources:A-Team: FCA Survey Reveals Gaps in Governance and Policy on Non-Financial MisconductFCA: Culture and Non-Financial Misconduct Survey – FindingsFCA: FCA Publishes Results of Non-Financial Misconduct SurveyFinancial Times: Bullying and harassment claims rise across City, regulator findsLatham & Watkins: FCA Publishes Results of Non-Financial Misconduct SurveyThe Banker: Reports of non-financial misconduct on the rise says FCATravers Smith: FCA findings on non-financial misconduct​
Fs Nl Web Thumbnail
Fs Nl Web Thumbnail Newsletter
Financial Services newsletter Friday 1st November 2024

​Financial Services News​Will AI change the role of a Paraplanner? - AI is steadily impacting paraplanning tasks by automating repetitive activities like compliance checks, allowing paraplanners to focus on strategic client support and financial planning. This shift lets paraplanners delve into specialised areas, helping them become strategic partners rather than data processors. But how do the majority view AI and what are the risks? (IDEX Consulting news, '​Will AI change the role of a Paraplanner?')Flexible Working Bill: what you need to know - The UK's Flexible Working Bill allows employees to request flexible working from day one, with employers required to respond within two months and consult if declining. The law aims to improve work-life balance, offering employees more control over their schedules, which is expected to enhance productivity and job satisfaction across various sectors. (IDEX Consulting news, 'Flexible Working Bill: what you need to know')What to consider before accepting a counter-offer - Before accepting a counteroffer, consider the long-term implications. While it may offer higher pay or better benefits it might not solve the original reason for your dissatisfaction. Accepting could also impact your relationship with your employer, as they may question your loyalty. Compare your current position against new opportunities to ensure alignment with your career goals. (IDEX Consulting news, 'What to consider before accepting a counter-offer')Wealth Management market outlook - The 2024 Wealth Management market outlook highlights challenges and opportunities in the industry, including adapting to regulatory changes, client demand for personalisation, and the growing role of technology and sustainable investing. Firms are focusing on enhancing client experiences through digital tools and expanding ESG-focused portfolios. This environment may drive a shift towards more specialised advice and strategies tailored to individual investor goals, balancing innovation with client trust. (IDEX Consulting news, 'Wealth Management market outlook')In April, Employers' National Insurance will rise from 13.8% to 15%, while Employee contributions remain unchanged, as part of Chancellor Rachel Reeves' Budget plan to increase taxes by £40bn to address government deficits and fund compensation for Post Office and tainted blood victims. (Financial Planning Today, 30/10/2024, 'Budget: Employers' NI rises as tax take grows')Quilter reported core net inflows of £1,507m for Q3, marking a 5% increase in opening AUMA, with total client assets reaching £116.2bn; the high-net-worth segment saw a turnaround with £284m net inflows, compared to £116m in outflows in Q3 2023, and gross flows rose to £817m from previous quarters. (Financial Planning Today, 16/10/2024, 'Quilter sees 63% rise in net inflows for Q3')Evelyn Partners’ AUM/A rose 13% year-on-year to a record £62.7bn as of 30 September, despite Q3 net inflows dropping to £0.2bn due to £353m in outflows from closing its legacy execution-only service, impacting only this quarter; total gross outflows were £1.7bn. (Financial Planning Today, 23/10/2024, 'Evelyn Partners closes legacy execution-only arm')Chancellor Rachel Reeves confirmed the CPI inflation target will remain at 2% amid a £40bn tax rise Budget aimed at economic stability. She pledged not to borrow for daily spending and noted that recent lower fuel and transport costs reduced CPI inflation to 1.7% in September, down from 2.2% in August. (Financial Planning Today, 30/10/2024, 'Budget: Inflation target to remain at 2%')A survey by AJ Bell found nearly all of 131 financial advisers reported a surge in client inquiries on pensions and wealth management, driven by concerns over potential tax hikes in Chancellor Rachel Reeves' upcoming Budget on 30 October. (Financial Planning Today, 21/10/2024, 'Advisers see surge in enquiries due to Budget jitters')Schroders and Phoenix Group launched Future Growth Capital, a private markets manager led by Paul Forshaw as CEO, with James Harvey as CFO, Mike Chappell heading origination, and Ped Phrompechrut as CIO; the firm aims to support the Mansion House compact's goal of directing 5% of UK pension funds into private assets by 2030. (Selin Bucak, 2/10/2024, Citywire Wealth Manager, 'Schroders reveals leadership lineup for new private markets business')Veteran fund managers Henry Francklin and Charles Empson departed Brown Advisory and Polar Capital in August to launch Hermod Capital, a third-party distribution firm, opening their London office in September. They partnered with Circulus, a Swedish small- and micro-cap team operating under the Coeli funds umbrella. Circulus' fund managers—Christofer Halldin, Simon Park, and Joakim By—joined from Handelsbanken in 2022, bringing a robust track record, including a 113% return on the Handelsbanken US Small Cap fund over five years, outperforming the index’s 75% gain. (Dylan Lobo, 3/10/2024, Citywire Wealth Manager, 'Brown Advisory and Polar Capital sales veterans form new business')Tatton Asset Management, the UK’s largest managed portfolio service (MPS) provider, is nearing £20bn in total assets after reporting £1.8bn in net inflows for the six months ending September, significantly up from £910m in the same period last year. Total group assets surpassed £19.9bn, bolstered by over £0.5bn in market gains and £1bn from assets managed by 8AM, in which Tatton has a stake. (Jeremy Gordon, 15/10/2024, Citywire Wealth Manager, 'Tatton reports record inflows as AUM nears £20bn')A new poll reveals that 53% of IFAs doubt the Labour Government's economic competency, with only 10% believing it is better for business than the Conservatives. Almost half (47%) feel the government doesn't prioritize the nation's best interests, highlighting concerns about Labour's economic management ahead of Chancellor Rachel Reeves' Budget announcement. (Financial Planning Today, 30/10/2024, 'More than 1 in 2 IFAs question Labour competency')A majority of Hargreaves Lansdown (HL) shareholders voted in favour of the £5.4bn acquisition, clearing a key hurdle for the expected takeover by a private equity consortium, including Abu Dhabi’s sovereign wealth fund. The vote revealed significant investor dissent, with 71.3% of shareholders supporting the deal and 86.7% of shares by value in favour. (Jeremy Gordon, 15/10/2024, Citywire Wealth Manager, 'Shareholders approve Hargreaves Lansdown takeover')St James’s Place (SJP) partners have previewed a new tiered charging structure set to launch in the second half of 2025. Clients will pay a fee based on their investment size, with an initial advice charge to SJP that will allocate a portion to the partner. The changes, announced last October in response to the consumer duty, will also eliminate exit fees, reduce product charges, and unbundle fees for various services. (Jack Gilbert, 17/10/2024, Citywire Wealth Manager, 'SJP reveals first details of new advice fee model')Moneybox, backed by Fidelity fund manager Anthony Bolton, has secured £70m in new investment, marking the second-largest minority wealth tech investment in the UK for 2024. The round was led by Apis Global Growth Fund III, with support from Amundi, joining existing investors like Fidelity International Strategic Ventures and Oxford Capital to help accelerate the company’s growth. (Dylan Lobo, 23/10/2024, Citywire Wealth Manager, 'Duo pour £70m into digital wealth firm backed by Fidelity legend Bolton')Former Ruffer Business Development Director Toby Barklem has launched Minos Wealth Planning (MWP), a London-based financial planning firm incorporated on 24 July and recently approved by the FCA. MWP is an appointed representative of the New Leaf Distribution network, which comprises over 250 advisers. (Dylan Lobo, 25/10/2024, Citywire Wealth Manager, 'Ex-Ruffer business development director launches new firm')Wealth manager St James’s Place reported a record £184.4bn in assets under management as of 30 September, up from £158.6bn in Q3 2023, despite net inflows dropping to £0.89bn, a 35% decrease quarter-on-quarter and 2% year-on-year. Gross inflows rose 20% year-on-year to £4.4bn, attributed to increased client engagement ahead of the Autumn Budget, although this figure was slightly lower than £4.56bn in the previous quarter. Year-to-date client retention remained stable at 94.6%. (Financial Planning Today, 17/10/2024, 'SJP hits assets record despite drop in net flows')Mergers and AcquisitionsCBPE Capital LLP has made a strategic investment in Bristol-based wealth and pensions manager Clifton Asset Management to accelerate its acquisition program. The investment, which involves collaboration with Clifton’s management team, including CEO Neil Greenaway, will support both organic growth and strategic acquisitions. The deal is pending regulatory approval. (Financial Planning Today, 31/10/2024, 'Private equity firm invests in £1.8bn AUM Bristol Planner')​Financial Planning-focused national adviser Foster Denovo has acquired East Midlands firm 80Twenty, marking its fifth acquisition in the past year and adding £500m in AUM/A, a 13th UK office, and its first base in the East Midlands. The acquisition price was not disclosed. Four advisers—Neil Welbury, Jackie Worby, David Catterall, and Stuart Annable—along with six support staff, will join Foster Denovo, which will now serve about 120 private clients, including several high-profile corporate clients. (Financial Planning Today, 29/10/2024, 'Foster Denovo acquires £500m AUM/A Midland adviser firm')WTW has acquired an undisclosed minority stake in private equity-backed Atomos, enhancing its growth strategy following a strategic alliance formed in 2022. Mark Calnan, head of Investments for Europe at WTW, noted that this investment extends their capabilities to a wider audience. With this stake, WTW aims to provide additional capital to support Atomos, which manages £7bn in assets. Atomos was previously Sanlam UK Wealth until rebranding after its acquisition by Oaktree in 2021. (Dylan Lobo, 3/10/2024, Citywire Wealth Manager, 'WTW acquires stake in PE-backed Atomos')Cazenove Capital has acquired London-based family office Whitley Asset Management (WAM), with founder Edward Whitley and his 10-member team joining Cazenove, while Co-Founder Louise Rettie retires; the deal's value was not disclosed. (Dylan Lobo, 7/10/2024, Citywire Wealth Manager, 'Exclusive: Cazenove Capital buys £1.5bn London family office')Brooks Macdonald is expanding its financial planning services with a £45m acquisition of Lift, paying £30m at completion and an additional £15m contingent on client retention and Ebitda targets; the deal, including Lift Financial Group and Lift-Invest, is expected to finalize by the end of March, after which the Lift team will join Brooks. (Dylan Lobo, 8/10/2024, Citywire Wealth Manager, 'Brooks Macdonald strikes £45m deal for £1.6bn advice business')Söderberg & Partners has expanded its investment portfolio by acquiring minority stakes in four more UK advice businesses, bringing its total to over 20 firms. The investments include Nottingham-based George Square, with £400m in assets under management (AUM); Cheltenham IFA, with £290m AUM; London-based Bluezone Capital, with £190m AUM; and nationwide firm Alexander Bates Campbell, which also operates a European private client subsidiary. (Julian Bovill, 21/10/2024, Citywire Wealth Manager, 'Nordic wealth manager buys stakes in four more UK firms')Investment consultancy Redington has been acquired by Arthur J Gallagher & Co for an undisclosed sum, with CEO Sylvia Pozezanac and her team remaining in place, while Gallagher, a global insurance brokerage with a market cap of $63bn (£48.56bn), oversees Redington's operations amidst SJP's reduced use of external consultants. (John Schaffer, 25/10/2024, Citywire Wealth Manager, 'Redington sold to insurance giant Gallagher')Titan Wealth has agreed to acquire Ravenscroft Investments Limited, a Channel Islands wealth manager with £7.9bn in AUM, for an undisclosed sum, subject to shareholder and regulatory approval; Ravenscroft will rebrand as Titan Wealth International next year, while its corporate finance and property management divisions will remain separate, with Founder Jon Ravenscroft continuing as a significant shareholder. (Financial Planning Today, 24/10/2024, 'Titan Wealth buys £7.9bn AUM Channel Islands firm')Fast-growing Financial Planning group Perspective has completed four new acquisitions—Clayden Financial Planning in Ipswich, PW White & Partners in Amersham, Constellation Financial Solutions in Darlington, and a longstanding self-employed adviser in Newcastle upon Tyne—bringing its total to 15 this year, adding £350m in assets under advice, 940 households as clients, and two new offices, raising its total to 41 offices; the group has now made 93 acquisitions overall. (Financial Planning Today, 16/10/2024, 'Perspective makes 4 acquisitions')Financial Planning firm Ascot Lloyd has acquired Scottish adviser Create and Prosper Financial Services for an undisclosed amount, adding £254m in assets under administration; Ascot Lloyd's Acquisitions Director, Gordon Kerr, highlighted that the deal enhances their national footprint and aligns with their ongoing M&A strategy to identify high-quality businesses that fit their culture and values. (Financial Planning Today, 14/10/2024, 'Ascot Lloyd acquires £254m AUA adviser')​MoversBrooks Macdonald COO and CTO Caroline Abbondanza, who joined from FNZ in 2019, left the firm in August. She became COO in early 2023 after Lynsey Cross's departure, one of three senior exits at the time. Brooks declined to comment. (Dylan Lobo, 31/10/2024, Citywire Wealth Manager, 'Revealed: Brooks Macdonald operating chief exits')​Anna Macdonald has joined Aubrey Capital Management as an Investment Manager, following roles at Amati Global Investors, where she co-managed the UK Listed Smaller Companies fund, and a brief position at Sustineri Global Investment. She previously served as an Executive Director at Adam & Co and is a frequent BBC radio contributor. (John Schaffer, 4/10/2024, Citywire Wealth Manager, 'Anna Macdonald resurfaces at Aubrey Capital')Carolyn Bell, with 16 years of experience, has joined Stonehage Fleming as Deputy Manager of the £2bn Global Best Ideas (GBI) Equity strategy, supporting Gerrit Smit. Previously at Aegon, she managed US, global equities, and tech strategies, following five years as an Investment Analyst at Baillie Gifford. (Sophie Downes, 8/10/2024, Citywire Wealth Manager, 'Stonehage Fleming adds new signing to £3.8bn strategy')Wealth manager Brown Shipley has hired Robbie Hewitt as a Wealth Planner for its Edinburgh office; Hewitt, with over 10 years of financial services experience, joins from JKFS and previously worked as a Mortgage Adviser at the Royal Bank of Scotland. (Financial Planning Today, 29/10/2024, 'Brown Shipley hires new planner for Edinburgh')True Potential has appointed Gerry Mallon, currently Head of Tesco Bank, as CEO starting in early 2025, following Daniel Harrison's announcement of his departure; in the interim, True Potential’s Chief Investment Officer Jeff Casson will serve as CEO until Mallon assumes the role, bringing experience from his six years at Tesco and previous leadership at Ulster Bank Ireland. (Julian Bovill, 7/10/2024, Citywire Wealth Manager, 'True Potential announces Tesco Bank chief as new CEO')Amanda Tovey has been appointed Head of Avellemy Private Wealth (APW) as it integrates with Whitechurch Securities, following FCA approval for Ascot Lloyd's acquisition of Whitechurch; Tovey will maintain her role as Head of SRI at Whitechurch and acting Head of APW until she transitions to the full-time position next year, having joined Whitechurch in 2012 after working as a Portfolio Manager at Barclays Wealth. (Natalia Vasnier, 7/10/2024, Citywire Wealth Manager, 'Revealed: Avellemy picks wealth head after Whitechurch deal')Martin Blank, Head of Manager Research at Schroders, will step down this month after over 20 years with the firm, having joined as a graduate analyst in 2001 and progressing to oversee a 10-member team responsible for billions in assets invested with external managers. (Joseph Eden, 9/10/2024, Citywire Wealth Manager, 'Schroders veteran head of manager research to exit')Titan Wealth has appointed Matt Hodey from PwC as Senior Risk Adviser amid an ongoing legal dispute with Tavistock; Hodey previously served as a Compliance and Risk Director at PwC and was a Director of Risk and Controls at Prudential. (Zachariah Sharif, 11/10/2024, Citywire Wealth Manager, 'Titan hires PwC risk director as Tavistock row rumbles on')Private equity-backed Attivo has appointed Jo French, former Schroders Director, as its first CEO, aiming to re-enter the discretionary fund manager (DFM) space; she will oversee the investment operations team and the firm's investment platform strategy. French previously served as COO at Benchmark Capital and held adviser sales roles at Sipp provider Hornbuckle before joining Schroders in 2022. (Victoria Bell, 14/10/2024, Citywire Wealth Manager, 'Attivo hires ex-Schroders director as CEO with eye on DFM launch')Royal London has appointed Iain McLeod as Director of Investment Proposition. He previously served as Head of Investment Proposition at M&G Wealth until June 2023. Before that, McLeod spent over 35 years at Abrdn and Standard Life in various investment roles, including Global Head of Multi-Manager Investment Specialists at Abrdn and Head of Investment Proposition at Standard Life from 2005 to 2011. (Nicola Blackburn, 16/10/2024, Citywire Wealth Manager, 'Royal London hires M&G Wealth’s investment boss')Fidelity International has hired Ravin Seeneevassen, reuniting him with former Allianz Global Investors colleague Mike Riddell, who joined Fidelity in July. Seeneevassen will start in London next month, bringing 17 years of experience, including his previous role as Lead Manager on the Allianz Fixed Income Macro strategy and supporting Riddell on several funds. (Jeremy Gordon, 17/10/2024, Citywire Wealth Manager, 'Exclusive: Fidelity adds Mike Riddell’s old Allianz colleague to bond team')Titanbay has appointed Michael Gruener, formerly Managing Director of strategic clients EMEA at BlackRock, as Co-CEO, joining existing CEO Ossama Soliman. With over 20 years of wealth management experience, Gruener previously worked at Goldman Sachs for nine years, reaching the Executive Director level before joining BlackRock in 2012. (Sophie Downes, 23/10/2024, Citywire Wealth Manager, 'Exclusive: Titanbay hires BlackRock veteran for CEO post')LGT Wealth Management has appointed Phoebe Stone as Chief Sustainability Officer in the UK to enhance its green credentials with potential clients. Stone has been managing the firm's sustainable investment proposition since its launch in 2018. (Natalia Vasnier, 24/10/2024, Citywire Wealth Manager, 'LGT Wealth Management makes new green push with Stone’s promotion')Sandra Dailidyte has joined Cazenove Capital as a Portfolio Manager in a newly created Scottish role, moving from her position as an Investment Director at Brown Shipley, where she spent over five years. Cazenove Capital aims to strengthen its commitment to the Scottish entrepreneur community with this appointment. Previously, Dailidyte held roles at Seven Investment Management and Standard Life as a Private Client Manager and Proposition Development Analyst. (Sophie Downes, 24/10/2024, Citywire Wealth Manager, 'Brown Shipley director exits for new Cazenove Capital Scotland role')Anders Lindegaard, who won the Premier League trophy with Manchester United in 2013, has transitioned from football to finance as a Business Development Specialist at UBS. The former goalkeeper, signed for £3.5m by Sir Alex Ferguson in 2010, will focus on providing wealth management services to top athletes and enhancing UBS's understanding of their needs. (Zachariaf Sharif, 25/10/2024, Citywire Wealth Manager, 'From Man Utd to UBS: Fergie’s £3.5m title winner starts new job')Wren InvestmentOffice has expanded its team with four new hires, including Jo Robinson as Client Relationship Director. Robinson brings 20 years of experience with ultra-high-net-worth clients, having previously worked at Kleinwort Benson and Barclays Private Bank. Alongside her, Vladislava Cusnir joins as Client Reporting Associate, Tiwalola Obadeyi as Client Relationship Assistant, and Savan Shah as Operational Associate, all contributing to Wren's focus on sustainable growth. (Natalia Vasnier, 28/10/2024, Citywire Wealth Manager, 'Wren Investment Office hires former Barclays banker for endowment push')BHP has expanded its financial advice business by adding Jonathan Lecomber as a Senior Financial Planner from Succession Wealth, bringing over 10 years of experience. Additionally, Tim Clasper has been promoted to the senior management team after completing the PDW Management Academy, having worked at BHP Financial Planning since 2019. (Financial Planning Today, 17/10/2024, 'Accountancy firm adds senior Planner in growth push')Hoxton Wealth has welcomed Dewi Evans, an experienced Financial Planner, to its Dubai team. An associate member of the CISI, Evans has over seven years of financial planning experience, with the last six dedicated to providing wealth advice in Dubai. (Financial Planning Today, 14/10/2024, 'Hoxton Wealth adds Financial Planner to UAE team')AJ Bell has strengthened its executive committee with the appointments of Ryan Hughes and Stephen Westgate. Hughes, who has been with AJ Bell since 2016, has been named Managing Director of AJ Bell Investments after serving as Interim Managing Director since late 2023. Westgate joins as Group Corporate Development Director, previously holding the position of Managing Director and Head of Financial Institutions at Deutsche Numis. (Financial Planning Today, 10/10/2024, 'AJ Bell hires 2 for leadership team')All information provided in this market digest has been gathered from Citywire Wealth Manager, Financial Planning Today, and IDEX Consulting.
Thumbnail Fs 380px X 380px 01
Thumbnail Fs 380px X 380px 01 Newsletter
Financial Services newsletter Friday 4th October 2024

​Financial Services NewsThe gender pay gap in Financial Services - To tackle the gender pay gap in financial services, focus on advancing into senior roles by honing your leadership and negotiation skills. Keep up with industry trends, such as pay equity and flexible working policies. Networking with leaders who champion diversity, gaining accreditations, and seeking mentorship can also elevate your career trajectory. Employers value proactive individuals who push for equality while advancing their expertise. (IDEX Consulting news, 'The gender pay gap in Financial Services')The impact of robo-advisers on the Financial Services market - Robo-advisers are transforming financial services by offering low-cost, automated investment solutions. To stay relevant, professionals should enhance their digital skills and focus on personalised services for high-net-worth clients. Embracing this technology will help financial advisers compete in a tech-driven market. (IDEX Consulting news, 'The impact of robo-advisers on the Financial Services market')In-demand skills: how to set yourself apart from the competition - To stand out in today’s competitive market, focus on building a mix of soft and technical skills. Employers prioritise problem-solving, critical thinking, and effective communication. Stay updated on new technologies like AI, and continuously develop your professional skills through learning and mentorship. The key is aligning your skills with employer expectations to remain relevant and competitive. (IDEX Consulting news, 'In-demand skills: how to set yourself apart from the competition')7 tips to negotiate your pay rise - To negotiate a pay rise effectively, research industry salaries, believe in your value, and present your achievements. Prepare by scheduling a meeting in advance, practicing with someone, and staying calm during negotiations. If pay isn’t negotiable, explore other benefits like flexible working or extra annual leave. Always follow up with an email to document the discussion. (IDEX Consulting news, '7 tips to negotiate your pay rise')The FCA has fined Starling Bank nearly £29m for financial crime failings related to its financial sanctions screening and for repeatedly breaching a requirement not to open accounts for high-risk customers; the bank was initially facing a fine of almost £41m but received a 30% discount by agreeing to resolve the breaches and enhance its controls. A 2021 review by the FCA highlighted serious concerns with Starling's anti-money laundering and sanctions framework, leading to restrictions on opening new accounts for high-risk customers until improvements are made.(Financial Planning Today, 2/10/2024, 'FCA fines Starling Bank £29m over screening failures')Data from Royal London reveals that by age 55, women have on average 43% less in their pension pot than men, with significant differences in pension contributions based on age, job type, and income; despite nearly equal participation rates in pension saving, women consistently save less throughout their careers, with the gender pension gap widening from 16% in their 30s to 43% by age 55, impacting their financial security in retirement. (Financial Planning Today, 2/10/2024, 'Gender pensions gap soars to 43% at 55')Tavistock's full-year results highlighted escalating legal tensions with Titan Wealth, as both firms have a shared interest in the fate of collapsed advice firm LEBC, in which Tavistock took a 21% stake before it was sold to Titan-owned Aspira. (Nicola Blackburn, 1/10/2024, Citywire Wealth Manager, 'Titan’s £45m deal adds fresh angle to Tavistock dispute')Albion Strategic Consulting is partnering with P1 Investment Services to offer its smartersuccess investment service on a discretionary basis, with P1 handling execution and portfolio management, while Albion continues to support advisers with portfolio construction, governance, and client communications. (Sophie Downes, 30/9/2024, Citywire Wealth Manager, 'Albion partners with P1 for discretionary service')HSBC plans to leverage its academy training program to recruit hundreds of new staff for a renewed focus on the UK wealth and advice sector, aiming to double its assets under management from £50bn over the next five years, driven by a consumer shift away from independent financial advisers, according to Managing Director for customer channels Christopher Dean. (Sophi Downes, 26/9/2024, Citywire Wealth Manager, 'HSBC leans on academy to capitalise on ‘shift away from IFAs’)Rathbones reported a £200m net inflow in the second quarter, reversing the £600m outflow from the first quarter, with underlying pretax profit surging 120.7% to £112.1m, attributed to a slowdown in senior investment manager departures; this comes amid plans for Investec W&I to merge its bespoke arm with Rathbones’ £45bn bespoke division, marking a significant step in the Rathbones-Investec merger. (Zachariah Sharif, 24/9/2024, Citywire Wealth Manager, 'Investec W&I’s investment assurance lead leaves after 15 years')​Paymentshield has launched a referral proposition aimed at helping advisers protect more clients by allowing them to either refer clients to in-house insurance specialists for scheduled advice or provide instant automated quotes via email or text for Home and Landlord’s Insurance, ensuring that clients can still access support from Paymentshield’s referral team during their online journey. (Momodou Musa Touray, 18/9/2024, Money Marketing, 'Paymentshield launches adviser referral proposition')The Platform Association has been launched as a trade body for platforms amid increased regulatory scrutiny, providing members a confidential space to engage with regulators and policymakers; founding members include Abrdn, Aegon, Fidelity, Quilter, Seccl, and SS&C, with an additional 20 platforms and 15 affiliate members verbally committed to join, while discussions are ongoing with around 60 others. (Victoria Bell, 23/9/2024, Citywire Wealth Manager, 'Quilter, Abrdn and Fidelity join rivals to launch platform trade body')​West Sussex-based high net worth specialist Servo Private Wealth has been awarded CISI Chartered Firm status, joining a select group of only 20 such firms in the UK; the CISI, which also awards the Certified Financial Planner designation, recognizes firms that meet specific criteria, including regulatory recognition, having at least 50% of staff chartered with CISI, implementing a CISI qualifications and CPD program, and aligning with the CISI Code of Conduct. Servo Private Wealth focuses on serving high net worth business owners and their families across the UK. (Financial Planning Today, 26/9/2024, 'West Sussex Planning firm gains Chartered status')Acquisitive wealth manager Kingswood reported that group assets under advice and management (AUA&M) reached £12.9bn by the end of June, marking an 8.2% year-on-year increase; operating profits rose 21% to £6.1m, while revenue increased by 14% to £40.6m. In its half-year results, Kingswood noted that UK & Ireland assets under advice (AUA) totaled £6bn, aided by the acquisition of Dublin retirement planning firm BasePlan in February, while UK & Ireland assets under management (AUM) stood at £3.7bn. (Financial Planning Today, 30/9/2024, 'Kingswood AUM climbs 8.2% to £12.9bn')Mergers and AcquisitionsTavistock Investments has sold its network advice arm to private equity-backed Saltus for up to £37.8m, with an initial £22m payment and up to £15.8m in deferred payments, marking the end of a challenging period for Tavistock and expanding private equity's presence in the UK advice market. (Victoria Bell & Nicola Blackburn, 1/10/2024, Citywire Wealth Manager, 'Tavistock sells advice network to Saltus in £38m deal')Close Brothers Group has confirmed the sale of its wealth management arm, Close Brothers Asset Management (CBAM), to private equity firm Oaktree for up to £200m, following exclusive talks that resumed in July; this deal highlights the growing trend of UK wealth management businesses being acquired by private equity, shortly after the significant sale of Hargreaves Lansdown. (Jeremy Gordon, 19/9/2024, Citywire Wealth Manager, 'Close Brothers Asset Management sold to private equity for £200m')Skerritts Group has acquired Harrogate-based Ellis Bates Financial Advisers for an undisclosed sum, completing the transaction at the end of September after receiving regulatory approval; this acquisition adds over £1bn in assets under management and strengthens Skerritts' presence in the North of England as the group aims for national expansion with support from Sovereign Capital Partners. (Momodou Musa Touray, 17/9/2024, Money Marketing, 'Skerritts buys Harrogate-based advice firm')WTW has acquired an undisclosed minority stake in private equity-backed Atomos, providing the wealth firm with additional capital to support its growth strategy; this investment builds on the strategic alliance formed between the two in 2022. Mark Calnan, Head of Investments for Europe at WTW, stated that the investment extends their capabilities to a broader audience. As part owner of Atomos, which manages £7bn in assets, WTW aims to enhance the firm's growth potential. Atomos rebranded from Sanlam UK Wealth after being acquired by private equity firm Oaktree in 2021. (Dylan Lobo, 3/10/2024, Citywire Wealth Manager, 'WTW acquires stake in PE-backed Atomos')​MoversCharlotte Aspinall has rejoined Charles Stanley as a Senior Investment Manager at its Tunbridge Wells branch, seven years after leaving the firm where she began her career in 2000, having since gained experience at Hurley Partners and Mattioli Woods. (Dylan Lobo, 2/10/2024, Citywire Wealth Manager, 'Charles Stanley alumna returns home after Mattioli Woods stint')Paul Killik is stepping back from day-to-day leadership at Killik & Co, the wealth business he founded in 1989, with Clem MacTaggart, formerly Chief Strategy Officer, and Sarah Threadgould, who joined as Chief Marketing Officer in 2019 from Which?, appointed as joint Managing Partners, while Killik remains as Chairman and his daughter, Georgie Killik, becomes Chief Strategy Officer. (Dylan Lobo, 1/10/2024, Citywire Wealth Manager, 'Paul Killik steps back from his wealth business')Deutsche Private Bank has restructured its central European business to offer ultra-high-net-worth clients a dedicated service, forming a markets investment team led by Liya Rozman, who previously headed the investment managers unit for Emerging Europe and Switzerland, and Adam Bergenfield for traders, while Sean Magee continues to lead the US investment management business, all with a focus on expanding client numbers and providing direct capital markets access. (Sophie Downes, 30/9/2024, Citywire Wealth Manager, 'Deutsche Private Bank shakes up investment arm')Nick Swales has retired as Regional Director of Rathbones' Newcastle office, which he helped launch 11 years ago, and has been succeeded by Co-Founder James Kyle, who has served as an Investment Director since 2013, with the office now managing around £825m in funds and employing about 20 staff. (Jeremy Gordon, 30/9/2024, Citywire Wealth Manager, 'Founding head of Rathbones Newcastle office retires')Helen O’Neill, the former Chief Operating Officer of Tatton Investment Management, has joined Whitman Asset Management as a Senior Adviser, following her departure from Tatton in March after seven years, during which she helped grow assets under management from £4bn to £17bn. (Dylan Lobo, 27/9/2024, Citywire Wealth Manager, 'Ex-Tatton COO Helen O’Neill joins boutique')7IM has expanded its investment team with the hiring of Asim Qadri and Brian Leitao as Investment Managers; Qadri, who has over a decade of experience, joins after three years at Abrdn, while Leitao comes from Mercer, where he was a Senior Investment Research Analyst, and previously worked at Fundhouse, EQ Investors, and Morningstar. These hires follow the recent appointment of Elizabeth Chambers as an Independent Non-Executive Director at 7IM. (Sophie Downes, 26/9/2024, Citywire Wealth Manager, '7IM boosts investment team with Abrdn and Mercer hires')Jessica Lewry has left her role as Head of Investment Manager assurance at Investec W&I after 15 years, making her the most high-profile departure since Portfolio Management Head Jon Walker left last month; Lewry, who joined in 2009 from Merrill Lynch, spent nearly six years in her latest role after advancing from Project Manager and Investment Risk Manager. (Zachariah Sharif, 24/9/2024, Citywire Wealth Manager, 'Investec W&I’s investment assurance lead leaves after 15 years')Premier Miton has appointed Nicola Stronach as Chief Operations Officer, following the recent launch of its model portfolio service; Stronach previously served as Director of Operations at Quilter Investors for three years and has also held roles at Credit Suisse, BNY Mellon, and Merian Global Investors. (Natalia Vasnier, 23/9/2024, Citywire Wealth Manager, 'Premier Miton hires Quilter operations director')​Former Charles Stanley Investment Chief Jon Cunliffe has joined JM Finn as Head of the Investment Office, returning to wealth management after nearly three years at non-profit firm B&CE; prior to his tenure at Charles Stanley, Cunliffe held various fixed income roles at Lombard Odier, ABN Amro, and Aberdeen Asset Management, where he led global fixed income macro strategy. (People Moves, 20/9/2024, Citywire Wealth Management, 'Ex-Charles Stanley CIO takes new JM Finn investment role')Schroders has appointed Meagen Burnett as its new Chief Financial Officer (CFO), succeeding Richard Oldfield, who became group Chief Executive earlier this month; Burnett, who joined Schroders in January 2023, has over 25 years of experience in financial services, including roles at M&G, J.P. Morgan, Goldman Sachs, and KPMG. She will serve as interim CFO starting 8 November 2024, until her formal appointment on 1 January 2025, while Schroders’ group Chief Investment Officer, Johanna Kyrklund, will also join the executive board. (Dan Cooper, 26/9/2024, Money Marketing, 'Schroders appoints Burnett as new CFO')Sesame Bankhall Group (SBG) has appointed Toni Smith as Distribution Director to lead its adviser network Sesame; with over 35 years of experience in the intermediary sector, Smith will focus on growing the Sesame business and enhancing the network's mortgage and protection propositions. She joins from PRIMIS Mortgage Network, where she served as Chief Operating Officer and later Chief Distribution Officer, and previously held the role of Business Operations Director at First Complete Limited for 10 years. (Momodou Musa Touray, 18/9/2024, Money Marketing, 'Sesame Bankhall hires new director to lead adviser network')National advice firm One Four Nine has appointed Martyn Southam, a former Manager at Succession Wealth, as Regional Director; Southam brings 35 years of experience in the financial services sector, having worked with mutuals, banks, product providers, and networks. (Momodou Musa Touray, 17/9/2024, Money Marketing, 'One Four Nine hires from Succession to boost regional expansion')The Personal Finance Society (PFS) has appointed Carla Brown as its new President; Brown is the Managing Director of St James’s Place partner firm Oakmere Wealth Management Ltd in Cheshire and also serves as a Director of CL Wills and Estate Planning. A Chartered Financial Planner and Fellow of the PFS, she is an accredited Later Life Adviser and holds a Certificate in Relational Financial Planning, along with an MSc in Wealth Management from Loughborough University. (Financial Planning Today, 26/9/2024, 'SJP partner firm founder appointed PFS President')​All information provided in this Market Digest has been gathered from Citywire Wealth Manager, Financial Planning Today, Money Marketing and IDEX Consulting.​
Blog Thumbnails New Size (19)
Blog Thumbnails New Size (19) financial services blogs
The changing market: why Employee Benefits Consultants are more important than ever

​How can you keep employees engaged and fulfilled? Enter the Employee Benefits Consultant...Whether you work in Financial Services or General Insurance, the need for Employee Benefits Consultants in recent years has soared, as companies across the world begin to recognise the importance of comprehensive employee benefits strategies in the workplace. In today’s competitive market; attracting and retaining competent, skilled employees has become fundamental to organisational success, and a large part of that is down to a company’s culture. In an ever-evolving world where streamlining and digitisation have led to many company’s merging, undergoing rapid growth and changing direction; there is a certain degree of uncertainty leading to high staff turnover and a ping-pong effect on a company’s cultural DNA. The previous method of combating such effects with implementing Employee Benefit schemes, simply doesn’t fit the bill anymore.The marketplace is changing, and so is the way in which employees are working, and living. As a result, many businesses are seeing sweeping changes in the way their employee benefit plans are structured and executed, as well as what the right benefits are - based on their organisation’s demographics.  Aimed at improving the mental and physical wellbeing of employees in order to drive employee engagement and staff retention, employee benefits strategies encompass everything from healthcare to flexible working as part of an increasingly sophisticated package of options that workers can tailor to their own needs.Hiring the services of an Employee Benefits Consultant is vital if businesses want to maintain a passionate workforce and develop a strong company culture. Consultants in this arena take the pain away from navigating the minefield that is Employee Benefits packages. Broking insurance contracts is relatively straightforward, however a good Employee Benefits Consultant gets to know your business inside and out, understands where you are now and where you want to be, and importantly - knows which products and services to recommend, and which ones would be redundant. Employee Benefits have changed massively over the past few decades. For example, pension plans used to be seen as a bonus in the workplace, but today it’s taken as standard with the implementation of Auto Enrolment, and staff expect much more from their employers. Employee Benefits Consultants play a vital role in helping companies to better understand their workforce and develop options that ultimately offer them more job satisfaction by catering to them and their lives, rather than a blanket ‘one-size-fits-all’ approach. By introducing schemes like flexible benefits, people can pick and choose the benefits they want to suit them, whilst employers can implement strategies that reduce the risk of employee sickness or dissatisfaction. It’s a win-win for employers - ensuring their employees are satisfied, protected and cherished, whilst de-risking their business.Many strategies are now shaped around a three-point scheme. This includes protection, which offers employees insurance schemes should they want it; intervention, which offers them workplace support; and prevention, which aims to prevent workplace sickness, for instance through free dental care, private medical insurance or cost-effective cash-plans with holistic therapies included. In a changing workplace, many companies are turning to Consultants to motivate and retain their workforce: the buzzword in employee benefits today is engagement, and there’s been a corresponding rise in the number of corporate Consultants, specialising in this new style of benefits, coming onto the market as a result. These consultants have one purpose - to tackle poor employer-employee engagement head on, by thinking outside the box and very often with highly skilled teams behind them, ensure the place we spend most of our time, at work, is a place we’re happy to be. The changing capabilities of technology have also made it much easier for Consultants to offer clients a high-quality employee benefits strategy that takes into account everything from increasing the value for money spent on benefits to ensuring that those benefits are competitively financed, to confirming they’re the right benefits in the first place! Today, companies can leverage new technologies to create in-house platforms that make it even easier for employees to access their benefits and stay informed; indeed, several employee benefits consultancies are starting to specialise in developing this technology, which can then be rolled out across the company by members of HR. Ultimately, a higher take up of benefits generally purports to a more protected, nurturing workforce.Other factors are driving the sudden rise in employee benefits interest, too. Thanks to an ageing working population- by 2040, nearly one in seven Britons will be over 75companies are attempting to improve their longer-term cost curve and increase their efficiency by addressing employee health, lifestyle choices and productivity. Combined with the pressure many companies are feeling to improve their profits and stay competitive in an unstable economy, employers need to boost their bottom line, which requires a consolidated employee benefits strategy to ensure maximum productivity whilst preserving employee satisfaction.In summary, employers everywhere are waking up and embracing the potential benefits that Employee Benefits Consultants can provide. With the market constantly evolving, and companies fighting to attract and engage talented staff, many are turning to Consultants for ways to engage and retain their ageing workforce, whilst also ensuring productivity is at near maximum capacity. As a result, demand is increasing, fuelled by continuous improvements generated by new technology: now, a more holistic approach to engagement is becoming the norm - and it’s increasingly cost-effective to implement.One thing’s for sure: for people thinking about pursuing a career in Employee Benefits, there’s never been a better time to get involved.Take advantage of the market.At IDEX, we’re proud to connect the freshest talent from around the country to the best jobs in Financial Services. Find out what we do here, or why not browse our selection of jobsfrom around the country?
Blog Thumbnails New Size (18)
Blog Thumbnails New Size (18) blogs
The gender pay gap in Financial Services

​Equality may be a word commonly used in the workplace today, but discourse doesn’t guarantee progress – and the stats are worrying. Analysis of the latest gender pay disclosures shows that men continue to be paid more than women across most UK organisations, “the difference in pay was found to be 9.4%, the same level as when figures were first public… in 2017/18” (BBC: 2023 8 out of 10 firms pay men more than women). At best, UK companies seem to be stagnating.Research shows 79.5% of employers had a gender pay gap that favoured men in 2022-23. While this has fallen in some sectors, Financial Services had an average gap of 22.7% - the highest after educational employers (UK Finance: 2023 News in brief). Further research by PwC shows the median average pay gap sat at 12.1% across all UK sectors – but it was a whopping 26.6% for Financial Services (PwC: Gender pay gap and diversity in financial services).Perhaps even more worryingly, HSBC, Goldman Sachs, Morgan Stanley and Standard Chartered all reported a widening gap between what they paid women and men in 2022, according to data reviewed by Reuters. “All four banks said in their gender pay gap reports that the figures reflected the under-representation of women in senior roles and that they were taking steps to address this” (Reuters: 2023 HSBC, Goldman gender pay gaps widen in UK as finance makes slow progress). So how does the pay gap actually work?The 1975 equal pay act means employers are required by law to pay professionals in the same role the same salary; it isn’t employers simply deciding to pay women less because they’re women. The situation is covert, multifaceted and often unconscious; but in its essence (and as admitted to above) the gap exists because men across the board can often occupy better paying professions, as well as positions of seniority in those professions.But why?Horizontal and vertical biasHorizontal gender bias is the distribution of men and women across industries and sectors. What roles do the words ‘women’s jobs’ conjure? Is it care work like nursing or teaching? Likewise, does ‘men’s work’ conjure images of engineers, STEM professionals or brokers? Vertical gender bias works similarly – it’s the distribution of men and women across the hierarchy of a specific profession, workplace or industry. In the past, women in boardrooms may have famously shared the awkward experience of being asked to get drinks or take notes. Why? Is it because a leader or c-suite professional looks like an older man in our collective conscious?It’s easy to justify these biases with numbers. After all, stereotypes often exist because of the numbers. If women want to be seen as leaders or occupy roles not socially assigned to them, why don’t they? The danger lies in the confirmation bias that follows the above. When the group that is the subject of the social bias/stereotype internalise it, they can end up trapped by it. As young professionals prepare to enter the market, they envision a career trajectory. But if you can’t see yourself ever getting to a certain place, you simply won’t work towards making it a reality. This manifests in people only pursuing careers they believe are open to them in the first place. Social bias leads to confirmation bias, which in turn leads to a self-perpetuating, restrictive cycle of keeping certain people in specific places.The motherhood and partner penaltyTo add to the above, things get more complicated when looking at motherhood and cohabitation. The New York Times put it well, “The big reason that having children, and even marrying in the first place, hurts women’s pay relative to men’s is that the division of labour at home is still unequal, even when both spouses work full time” (New York Times: The gender pay gap is largely because of motherhood).When looking at an uneven division of labour, raising children can be a factor. But according to research even those who choose not to have children often earn less, because women are more likely to pass up job opportunities in order to move or stay put for their husband’s job. Then when children are introduced, not only have some women missed job opportunities but they often take fewer intensive jobs in preparation for children – knowing that the bulk of the (unpaid) responsibility will fall to them.“One person focuses on career, and the other one does the lion’s share of the work at home,” said Sari Kerr, an economist at Wellesley College, Massachusetts. Statistically women spend on average one hour more a day on unpaid work than men do, with that jumping to as much as three hours in some European countries (Eurostat: How do women and men use their time – statistics). This unequal division of unpaid labour takes its toll on the professional lives of women – sapping energy, stifling potential and fuelling the pay gap.Those who decide not to have children may also experience bias, whereby they’re overlooked for promotion on the basis that they may one day change their mind and deprioritise work as a result (Justifying gender discrimination in the workplace: The mediating role of motherhood myths). “Cognitive bias may occur when an employer disadvantages women by assuming that they will conform to a stereotype. An employer assuming that mothers will work fewer hours after they have children is an example of how stereotyping is dangerous” notes one research piece (University of Rhode Island: The motherhood penalty).So, what can employers do to address the gender pay gap and support women? Support professional women The complexity of the pay gap stems from the multiple factors causing it, some of which are social issues beyond the scope of businesses. However, there are some powerful ways organisations can tackle the problem - introducing and promoting paternity leave is the biggest. For the institutions without a paternity policy, the first step is clear. For those with paternity leave already in place, the World Economic Forum advises employers to actively encourage new fathers to take it. “Men cite fears of being discriminated against professionally, missing out on pay rises and promotions, being marginalised or even mocked as reasons [for not taking paternity leave]” says one report (Family Tree: Paternity leave – why aren’t more men taking it?) and yet when surveyed, 80% of dads said they’d want much more time with their children (World economic forum: 2022 The motherhood penalty: How childcare and paternity leave can reduce the gender pay gap). It’s clear, businesses need to actively promote paternity leave as a viable option for their male employees.Similarly, childcare and flexibility are paramount. Retailer Patagonia created on-site childcare facilities for employees and saw retention rates skyrocket. In a post Covid climate flexibility is a non-negotiable, particularly for financial businesses promising to bridge the gap.Perhaps most importantly, employers need to understand the challenges women may be facing, listen to any concerns and work on ways to drive equity. The World Economic Forum urges employers to “allow women within your organisation to discuss what's working and what's not – give them a direct line of communication to the top as well as the resources they need” (World economic forum: 2022 The motherhood penalty: How childcare and paternity leave can reduce the gender pay gap). Creating safe open spaces to discuss personal situations case by case is a direct way to combat the biases and challenges driving the gender pay gap. Open the door and show that it’s openFrom as early as school, a lack of representation and the horizontal biases that plague gender, ethnicity and certain socioeconomic backgrounds directly influence career trajectories. It’s easy to tell girls they can be c-suite finance professionals if they want to be, but unless girls can see that it’s a viable career pathway, doubts will linger. Remedying this isn’t a complicated process. Working in partnership with schools and colleges to organise open days and workshops for the talent of the future is a powerful way for businesses to address the widening pay gap. Further down the line, internships and development programmes aimed specifically at women is another effective way to encourage open and honest conversations and provide support. Ultimately, the numbers are clear; there are still challenges with the gender pay gap across the Financial Services profession and time alone isn’t fixing the issue. Companies across Financial Services need compliant policies, support mechanisms and cultures which encourage open conversations and empower employees to challenge the status quo.For advice and support with your hiring strategy or if you’re looking for a new opportunity, speak to an IDEX Financial Services specialist today.​Sources:BBC: Paternity leave, which comes with multiple benefits, is more widely offered than ever before. So, why aren't more men taking it?BBC: 2023 8 out of 10 firms pay men more than womenEurostat: How do women and men use their time – statisticsFamily Tree: Paternity leave – why aren’t more men taking it?Justifying gender discrimination in the workplace: The mediating role of motherhood mythsNew York Times: The gender pay gap is largely because of motherhoodPwC: Gender pay gap and diversity in financial servicesReuters: 2023 HSBC, Goldman gender pay gaps widen in UK as finance makes slow progressUK Finance: 2023 News in briefUniversity of Rhode Island: The motherhood penaltyWorld economic forum: 2022 The motherhood penalty: How childcare and paternity leave can reduce the gender pay gap

ADVANCED CLIENT SERVICES

SPECIALIST KNOWLEDGE
SPECIALIST KNOWLEDGE
SPECIALIST KNOWLEDGE

Access to expert consultants who have years of experience in their niche, across all geographies.

Read Article
RESULTS FOCUSED
RESULTS FOCUSED
RESULTS FOCUSED

We are focused on results, not activity, to get the best outcome for you.

Read Article
TRUSTED ADVISOR
TRUSTED ADVISOR
TRUSTED ADVISOR

Each client and professional is provided with a dedicated consultant who provides a 1:1 service.

Read Article
GLOBAL PRESENCE
GLOBAL PRESENCE
GLOBAL PRESENCE

Our international presence enables us to tap into regional and global networks and provide scalable solutions.

Read Article
ADVANCED TECHNOLOGY
ADVANCED TECHNOLOGY
ADVANCED TECHNOLOGY

Our solutions are underpinned by leading edge technology and software to provide extensive data and intelligence.

Read Article
M&A SOLUTIONS
M&A SOLUTIONS
M&A SOLUTIONS

Access to specialist M&A consultantswho can provideexpert advice on the M&A market, valuations and current opportunities.

Read Article
MARKET INTELLIGENCE
MARKET INTELLIGENCE
MARKET INTELLIGENCE

Our research and data driven thought leadership offers strategic solutions and expert advice.

Read Article
DIVERSITY FOCUSED
DIVERSITY FOCUSED
DIVERSITY FOCUSED

Consultants follow our inclusive recruitment policy to attract a diverse talent pool, regardless of gender, age, faith, disability, sexual orientation or faith.

Read Article
Banner Default Image

Meet the Financial Services Experts

Alison MacMillan

Alison MacMillan

Ashlea Walton

Ashlea Walton

Emma Murray

Emma Murray

Jack Johnson

Jack Johnson

Louise Bibb

Louise Bibb

Keith Enright

Keith Enright

Graeme Hyland

Graeme Hyland

Alex Merrick

Alex Merrick

James Salmon

James Salmon

Graeme Winn

Graeme Winn

David Elders

David Elders

Lynn Wilson

Lynn Wilson

  • Alison MacMillan

    Divisional Director

    Mobile: 07423 400 829 | E-mail: alison.macmillan@idexconsulting.com​Ali has been working in Financial Services recruitment in Scotland since 2002 and is a Fellow of the Recruitm...

    View profile

  • Ashlea Walton

    Client Director

    Mobile: 07805 843 149 | E-mail: ashlea.walton@idexconsulting.comAshlea is an experienced Employee Benefits recruiter with 10+ years experience recruiting nationally. She specia...

    View profile

  • Emma Murray

    Client Delivery Manager

    ​Mobile: 07791 280 859 | E-mail: emma.murray@idexconsulting.com​A spring of energy in the office, Emma is a dedicated and passionate Financial Services specialist. Partnering w...

    View profile

  • Jack Johnson

    Business Director & Regional Manager

    ​Mobile: 07795 571 723 | E-mail: jack.johnson@idexconsulting.com​Jack has nine years’ experience recruiting Risk, Actuarial and Compliance professionals in the UK. He has worked...

    View profile

  • Louise Bibb

    Regional Manager

    Mobile: 07706 736 747 | E-mail: louise.bibb@idexconsulting.com​Louise has worked within Financial Services recruitment for over 7 years, predominantly focusing within the South...

    View profile

  • Keith Enright

    Business Manager

    Mobile: 07818 236 224 | Email: keith.enright@idexconsulting.com​Keith has been recruiting within the Financial Services sector since 2003. He specialises in partnering with clie...

    View profile

  • Graeme Hyland

    Business Manager

    Mobile: 07896 933 622 | E-mail: graeme.hyland@idexconsulting.com​Graeme is one of the longest serving members at IDEX Consulting and is fully responsible for recruitment, talent...

    View profile

  • Alex Merrick

    Business Manager

    ​Mobile: 07776 670 384 | Email: alex.merrick@idexconsulting.comPrior to moving into Recruitment, Alex was a Financial Adviser for 16 years. He started advising within the Bancas...

    View profile

  • James Salmon

    Mergers and Acquisitions Client Director

    Mobile: 07947 748 173 | E-mail: james.salmon@idexconsulting.comJames leads our Financial Services Mergers and Acquisitions proposition; supporting Wealth Management businesses t...

    View profile

  • Graeme Winn

    Managing Consultant

    ​Mobile: 07552 208 547 | E-mail: graeme.winn@idexconsulting.comFollowing an initial career in Accountancy, Graeme has worked within the recruitment industry for nearly 10 years....

    View profile

  • David Elders

    Managing Consultant

    ​Mobile: 07407 626 734 | E-mail: david.elders@idexconsulting.comDave has over 16 years’ experience recruiting in the Financial Services sector, initially within Retail Banking,...

    View profile

  • Lynn Wilson

    Senior Consultant

    Mobile: 07918 211 987| E-mail: lynn.wilson@idexconsulting.comLynn has been working in Financial Services recruitment in Scotland since 1996. She typically recruits for are Para...

    View profile
Check out other experts:
  • Alison MacMillan
  • Ashlea Walton
  • Emma Murray
  • Jack Johnson
  • Louise Bibb
  • Keith Enright
  • Graeme Hyland
  • Alex Merrick
  • James Salmon
  • Graeme Winn
  • David Elders
  • Lynn Wilson