Top of the class at Fairbairn Private Bank
22 July 2011
Three lady private bankers at Fairbairn Private Bank's Isle of
Man office 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 achieved a distinction while both Rebecca Laforey and
Allie Kirk achieved merits in their results for this
qualification.
By achieving level 6 status, the bank's staff have gained
qualifications that are substantially higher than the required
level. The UK's Financial Services Authority (FSA) Retail
Distribution Review (RDR) makes clear that by the end of 2012 all
persons who provide investment advice are required to obtain the
minimum standard of an Ofqual* approved Level 4 qualification.
Although RDR currently only applies in the UK, and is only being
considered for the Isle of Man by January 2014, all of the bank's
private banking staff are in the process of achieving a minimum
level 6 qualification. With anticipated regulatory changes in the
British offshore islands, the bank is getting ahead of the game,
and believes its 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,
tested by answering case studies, writing reports and explaining
techniques and terms.
Achieving this qualification demonstrates a clear ability to
identify clients' needs and provide solutions to those needs and
the exam reflects situations and issues that practitioners will
encounter in practice.
Jon Evans, head of Isle of Man private banking at Fairbairn
Private Bank, said: "I'd like to congratulate all three ladies on
their exam success. This is yet another demonstration of the bank
and its staff going above and beyond the call of duty. We place
great emphasis on the ongoing development of our staff, so that we
can continue to deliver a high standard of service to our
clients."
* Office of Qualifications and Examinations Regulation. Ofqual
is responsible for maintaining standards, improving confidence and
examinations. They regulate general and vocational qualifications
in England and vocational qualifications in Northern Ireland.
Ends
For further information:
Cathy Cowin or Lesley Allegro, Fairbairn Private
Bank Tel: +44
(0)1624 645000
Issued by:
Kate McDowell, Isle of Man Advertising and PR Ltd
Tel: +44 (0)1624 620440
About Fairbairn Private Bank
Fairbairn Private Bank operates a comprehensive private and
personal banking operation on behalf of a wide range of clients.
These include private individuals, non-trading companies, trusts,
governments and institutional investors. A full range of banking,
investment, trust and corporate services can be accessed through
its offices in the Isle of Man, Jersey, London and its
representative office in South Africa.
Fairbairn Private Bank is a member of the Old Mutual Group.
When referring to Fairbairn Private Bank - please ensure that
the company name is printed in full and not abbreviated.