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Staff at Fairbairn Private Bank set the standard

We would like to congratulate Gordon Crowe and Andrew Halsall on their recent exam success in the Level 6 Chartered Institute of Securities and Investment Private Client Investment Advice and Management (PCIAM) qualification. Currently, 90% of all relationship managers at Fairbairn Private Bank meet the qualification requirements of the UK's Financial Services Authority (FSA) Retail Distribution Review (RDR) and 67% have achieved level 6, which is substantially higher than the standard required to give investment advice.  This demonstrates Fairbairn Private Bank's commitment and value placed on professional qualifications, especially within the forthcoming RDR environment.

The RDR makes clear that by the end of 2012 all persons who provide investment advice must obtain the minimum standard of an Ofqual* approved Level 4 qualification. Although RDR currently only applies in the UK, all of the bank's private banking staff are in the process of achieving a minimum level 6 qualification. With the likely introduction of similar regulatory changes in the Isle of Man, to also introduce a required qualification level by January 2014, the bank is getting ahead of the game and believes you and your clients can only benefit from this approach.

Relationship managers achieving this qualification demonstrate they have the clear ability to identify clients' investment needs and the most appropriate solutions, as the exam reflects situations and issues that practitioners will encounter in practice. The exam teaches candidates to structure a suitable portfolio, which is based on the key principles of Know Your Customer. The qualification also covers four core areas (regulation and ethics, investment principles and risk, taxation and planning) required by the FSA.

The bank places great value on the ongoing development of all staff so it can continue to deliver a high standard of service to you and your clients.  This dedication was recently recognised when it was, once again, listed in The Sunday Times 100 Best Small Companies to Work For 2012.  The bank also holds the Gold status awarded by Investors in People and a UK National Training Award.

*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.