Top of the class
Seven of our relationship managers have recently achieved
outstanding results in the Level 6 Chartered Institute of
Securities and Investment Private Client Investment Advice and
Management (PCIAM) qualification. Beckie Williams was awarded a
distinction, while Rebecca Laforey, Allie Kirk and Harry Pickard
achieved merits in their results. Alex Jeffries, Carlo Lourenco and
Lucy Connick also all passed.
By achieving level 6 status, our staff have gained
qualifications that are substantially higher than the standard
normally required to give investment advice. The UK's Financial
Services Authority (FSA) Retail Distribution Review (RDR) has
specified that by the end of 2012 any person who provides
investment advice should obtain the minimum standard of an Ofqual*
approved level 4 qualification. Although RDR currently only applies
in the UK, all of our private banking staff are in the process of
achieving a minimum level 6 qualification. It is anticipated these
regulatory changes will be introduced in Jersey by January 2014 and
the Isle of Man will soon follow, so we are getting ahead of the
game as we believe our clients can only benefit from this
approach.
The PCIAM examination is a demanding assessment with a broad
syllabus: requiring detailed knowledge of investment principles and
risk, taxation, financial planning, and regulation and ethics.
Candidates' knowledge is tested by analysing case studies, writing
reports and explaining techniques and terms.
Achieving this qualification demonstrates a clear ability to
identify clients' investment needs and provide appropriate
solutions, as the exam reflects situations and issues that
practitioners will encounter in practice.
*Office of Qualifications and Examinations Regulation. Ofqual is
responsible for maintaining standards, improving confidence and
examinations. It regulates general and vocational qualifications in
England and vocational qualifications in Northern Ireland.
Pictured left to right: Rebecca Laforey, Beckie Williams and
Allie Kirk were the first three bankers to set the bar.
