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Wealth in experience

Most IFAs, consultancies and product providers that talk to us about their recruitment plans in 2006 have already made significant progress with their A-Day marketing propositions to new and existing clients. Some of these plans have involved a significant investment both in time and financial resources.

The consensus is that no stone has been left unturned in their efforts to educate their clients and to attract new business opportunities.

The reality in terms of increased business and increased revenue will not truly be known until at least April 2006, thus postponing any effective assessment of staffing implications until Q 2 or even Q3 of next year.

As we continue to talk to our clients, it is clear that staff with significant exposure to pensions’ technical and administration work will be highly valued across the industry.

Additionally, however, we are seeing a shift in emphasis away from purely pensions into the highly lucrative Sipp market. Professional IFAs dealing with the introducer market, private client market or entrepreneurs/OMBs are already asking us to source candidates with exposure to this niche area of financial planning, knowing full well that candidates with specific business development skills in this area are in short supply. Furthermore, clients employing specialists in this area will ensure that their staff are given every oppor-tunity to maximise earnings from this source.

Candidates who have positioned themselves in the most marketable way will have experience if not in Sipps, then in VCT, EIS or film partnership work and will be used to dealing with clients with assets that will allow them to take advantage of the tax benefits of investing in Sipps.

Tax planning, estate planning or general wealth management advice backed by strong experience and AFPC progression, typically G10, G20, and G80 is particularly of interest at this time of legislative change.

This growth market will inevitably impact on Sipp administration, paraplanning and technical advisory candidates as quality advisers seek to secure the experience of well qualified support staff to allow them to write the maximum levels of business possible.

Sought after candidates with IFA, technical or administrative skills in pensions or tax planning are just as keen to take advantage of career opportunities at this time as IFA firms, consultancies and product providers are to increase their revenue in the lead-up to A-Day.

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