The post-RDR IFA market is going to look considerably different. Will there be many of today’s IFAs here to witness the change?

Transitions taking place amongst small and medium-sized IFA firms, as a result of measures demanded by the FSA’s Retail Distribution Review (RDR), are now well underway. But feedback from Reed Insurance jobs clients in this sector indicates that a sizeable number will simply close up shop when implementation becomes mandatory in 2012. Some industry experts have gone on record as saying that as many as 30% of IFAs will cease trading, selling their client banks on to IFAs of a similar size, or to the major players.

Finding fresh blood: a growing challenge

The implications for those firms that remain in the market are clear. Many fear that it will become harder to find people who want to provide independent financial advice, as firms get squeezed out of the market.

Changes to reward and remuneration structures mean that, while commission elements may be largely eliminated and basic salaries driven upward, earning potential will be reduced overall.

Sales-focused advisers with a hunger to maximise their earnings may leave the profession altogether for less heavily regulated sectors, while graduates might be attracted by the glitz of volume recruitment campaigns already being waged by blue chip names on the high street.

There is one glimmer of hope – because of the introduction of basic salaries, talented people currently working in the bancassurance market may be keener to explore opportunities with IFAs.

Via EPR Network
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Launched this month, the Reed Carer of the Year Awards 2010 will recognise outstanding contributions made by exceptional individuals working in Care and Social Work.

Created in 2009 to recognise some of the fantastic contributions made by individuals working in these challenging areas, the Reed Carer of the Year Awards are run by Reed Social Care Jobs, in association with Sue Ryder Care. The awards are open to anyone working within Social or Domiciliary Care, and each national category winner – the Reed Carer of the Year 2010 and the Reed Social Worker of the Year 2010 – will receive £1,000 of holiday vouchers.

Members of the public, clients, service users, fellow carers and social workers can nominate any individual who they believe has demonstrated extraordinary commitment in a caring capacity. For each Award nomination1 received by Reed Social Care up until the 31st May closing date, the recruitment specialist will donate £8.70 to the Sue Ryder Care charity towards an hour of care.

Regional Winners will be announced in early June, and these outstanding individuals will each receive a prize hamper, certificate and progress to the national final of the Reed Carer of the Year 2010 Awards. This event takes place on 2nd September 2010 in London at The Waldorf Hotel, which this year is celebrating it’s 100th anniversary – just as recruitment specialist Reed is celebrating it’s formation 50 years ago.

Via EPR Network
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Mixed signals for the UK economy on brink of Election call as demand for top finance and business services staff rises 4%.

Demand from UK employers for new workers fell back overall in March, according to the Reed Job Index published today (Tuesday 6 April 2010).

The number of new job opportunities fell by 3 Index points (3%) to give a Reed Job Index reading of 102 in March compared to February’s high of 105.

In contrast, demand for key business services professionals across finance, general insurance and marketing rose in March. Employer demand for staff in these career sectors increased by 5 Index points (4%) compared to February, indicating growing confidence in this pre-recessionary heartland of the British economy.

Each month the Reed Job Index tracks the number of new job opportunities on offer compared to the previous month and against a baseline of 100 set in December last year. The Reed Job Index is based on data from the UK’s largest job board, reed.co.uk, which every day lists over 90,000 job opportunities from 8,000 recruiters across 37 career sectors throughout the UK.

The Reed Job Index figure stands at 102 in March, a 3 point decrease compared to February’s high of 105 – although it is still 2 points above December last year when the Index baseline was first set at 100.

However demand remained high for staff across the business services sector. New vacancy numbers rose most for Qualified Accountants, General Insurance plus Strategy and Consultancy professionals, with increased demand for Marketing and PR, and Banking staff close behind.

Demand fell most for Engineering, Scientific, and Manufacturing staff, demonstrating the continued weakness of these sectors in spite of the extra government support for them announced in last month’s Budget.

At the same time, the Public Sector Reed Index figure stands at 79, with demand for new staff lower in this sector than any other – although it has risen slightly above February’s low of 76.

Interested in recruiting? For more information on recruitment and jobs offered by Reed Specialist Recruitment, please visit their website reedglobal.com.

Via EPR Network
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