Uncertainty over RDR fallout has not dampened jobseekers’ spirits. Fee-earners and support staff alike are all updating their CVs.
How the RDR will impact on the appeal of adviser roles remains uncertain, so few employers are willing to take a punt on candidates who don’t have a track record or loyal client bank. Nevertheless, many IFAs, multi-tied agents and mortgage consultants are re-engaging with their networks and putting the word out that they are open to offers.
Some firms have already taken steps to pre-empt leavers, such as bringing forward salary reviews or restructuring commission structures more favourably.
Others have even been securing authorisation to “buy back” key advisers even before resignations have been tendered.
Non-sales roles are also enjoying a surge in demand, especially paraplanners, many of whom have been under severe pressure in the past 18 months as firms scaled back on non-fee-earners. Those in administration and compliance who have felt unloved recently but don’t anticipate any improvement are also being snapped up and counter-offered.
Pensions and employee benefits experts with technical ability and client-facing skills are finding a warm welcome outside conventional financial services companies.
Professional services firms securing reward and compensation business are eager to bring talent on board. Many have sufficient financial resources and development opportunities to make irresis- tible offers.
Neil Soffe is a director at Hays Financial Servicesadviser salary is £24,500. This ranges from £23,000 in Wales and the North-east to £28,000 in London.