PDF Financial Services - Wealth Management

2019

Salary Guide

FINANCIAL SERVICES - WEALTH MANAGEMENT

Contents Introduction............................................. 3 London & South East.......................... 4 - 5 West Midlands.................................... 6 - 7 East Midlands..................................... 8 - 9 North West...................................... 10 - 11 South West.................................... 12 - 13 CEO Commentary................................. 14 Other sectors................................... 14 -15

Page 2 - Contents

Welcome to the IDEX Financial Services Salary Guide 2019. This year, we have taken the step of creating separate guides to best cater for the evolving needs of our specialist clients, whether it be Employee Benefits, Wealth Management or Risk & Compliance. This guide has been created to assist Financial Services professionals across the UK with their next career move and to support our valued clients with their growth strategy. Drawing upon the extensive knowledge and data available to IDEX, this guide contains insight into the key recruitment and remuneration trends over the past 12 months.

The difficulty in sourcing and recruiting new talent is a challenge that the growing Financial Services industry is now accustomed to. However, 2018 was a landmark year in which many firms began to adapt to this challenge in order to achieve their own growth targets.

The most successful firms have begun to develop broader remuneration packages, taking advantage of the rapidly growing popularity of "non-financial" benefits to attract and retain the best individuals by standing out from the competition. These flexible packages are designed to improve employees work / life balance; creating better levels of job satisfaction, engagement and ultimately higher performance.

Additionally, the global drive towards diversity and equality in the workplace has meant that part time or flexible working is now a regular offering from firms.

Financial planning salaries are again on the rise as firms seek to attract the very best and it is worth noting that a Senior Paraplanner will attract a higher salary than a Junior Advisor in many areas, as the value Paraplanners can add into the wider business strategy is appreciated.

We have also seen a significant shortening in the "time to hire", for a large number of clients utilising IDEX's innovative recruitment solutions to specifically target individuals and top performers, while providing a professional, branded attraction strategy in line with their ethos and vision.

Looking forward into 2019, this will become even more valuable, as candidates are increasingly aware of their value and appreciate branded documents outlining the company's future vision, culture and brand in addition to traditional job specs to attract them.

I hope you find this guide helpful, however if you do have any questions or require further insight, please do not hesitate to contact me.

Tony Bates DipRP

Managing Director

M 07534 507 007

E tony.bates@

2019 Salary Guide - Financial Services - Wealth Management

Welcome - Page 3

London & South East

Page 4 - London & South East

JOB TITLE

Operations Administrator Paraplanner Operations Manager Operations Director Chief Operating Officer

Consultancy Trainee/Junior Financial Planner Financial Planner (With clients) Financial Planner (Without clients) Regional Sales Manager National Sales Director Managing Director

1-3 years

4-8 years

9 years +

?26,000 - ?30,000 ?30,000 - ?33,000 ?30,000 - ?33,000 ?38,000 - ?42,000 ?42,000 - ?50,000 ?50,000 - ?60,000 ?50,000 - ?60,000 ?60,000 - ?70,000 ?70,000 - ?80,000 ?70,000 - ?80,000 ?80,000 - ?90,000 ?90,000 - ?100,000 ?100,000 - ?120,000 ?120,000 - ?130,000 ?130,000 - ?150,000

?30,000 - ?35,000

n/a

n/a

?45,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000

?40,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000

?80,000 - ?100,000 ?90,000 - ?110,000 ?100,000 - ?120,000

?80,000 - ?100,000 ?100,000 - ?120,000 ?110,000 - ?130,000

?100,000 - ?120,000 ?120,000 - ?150,000 ?150,000 - ?200,000

Time to hire companies have reported that lengthy hiring processes are beginning to impact their ability to attract talent, with first-choice candidates falling out of the process in favour of faster decisions elsewhere.

2019 Salary Guide - Financial Services - Wealth Management

London & South East - Page 5

West Midlands

Page 6 - West MIdlands

JOB TITLE

Operations Administrator Paraplanner Operations Manager Operations Director Chief Operating Officer

Consultancy Trainee/Junior Financial Planner Financial Planner (With clients) Financial Planner (Without clients) Regional Sales Manager National Sales Director Managing Director

1-3 years

4-8 years

9 years +

?26,000 - ?30,000 ?30,000 - ?33,000 ?30,000 - ?33,000 ?38,000 - ?42,000 ?42,000 - ?50,000 ?50,000 - ?60,000 ?50,000 - ?60,000 ?60,000 - ?70,000 ?70,000 - ?80,000 ?70,000 - ?80,000 ?80,000 - ?90,000 ?90,000 - ?100,000 ?100,000 - ?120,000 ?120,000 - ?130,000 ?130,000 - ?150,000

?30,000 - ?35,000

n/a

n/a

?45,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000

?40,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000

?80,000 - ?100,000 ?90,000 - ?110,000 ?100,000 - ?120,000

?80,000 - ?100,000 ?100,000 - ?120,000 ?110,000 - ?130,000

?100,000 - ?120,000 ?120,000 - ?150,000 ?150,000 - ?200,000

The UK employment market saw

active candidates in 2018 versus 2017, while the number of businesses recruiting has increased by

in the same time.

2019 Salary Guide - Financial Services - Wealth Management

West Midlands - Page 7

East Midlands

Page 8 - East Midlands

JOB TITLE

Operations Administrator Paraplanner Operations Manager Operations Director Chief Operating Officer

Consultancy Trainee/Junior Financial Planner Financial Planner (With clients) Financial Planner (Without clients) Regional Sales Manager National Sales Director Managing Director

1-3 years

4-8 years

9 years +

?26,000 - ?30,000 ?30,000 - ?33,000 ?30,000 - ?33,000 ?38,000 - ?42,000 ?42,000 - ?50,000 ?50,000 - ?60,000 ?50,000 - ?60,000 ?60,000 - ?70,000 ?70,000 - ?80,000 ?70,000 - ?80,000 ?80,000 - ?90,000 ?90,000 - ?100,000 ?100,000 - ?120,000 ?120,000 - ?130,000 ?130,000 - ?150,000

?30,000 - ?35,000

n/a

n/a

?45,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000

?40,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000

?80,000 - ?100,000 ?90,000 - ?110,000 ?100,000 - ?120,000

?80,000 - ?100,000 ?100,000 - ?120,000 ?110,000 - ?130,000

?100,000 - ?120,000 ?120,000 - ?150,000 ?150,000 - ?200,000

Time to hire has reduced significantly (86.2%) over the last 12 months as firms seek to attract the best individuals by utilising IDEX's retained solutions.

2019 Salary Guide - Financial Services - Wealth Management

East Midlands - Page 9

North West

Page 10 - North West

JOB TITLE

Operations Administrator Paraplanner Operations Manager Operations Director Chief Operating Officer

Consultancy Trainee/Junior Financial Planner Financial Planner (With clients) Financial Planner (Without clients) Regional Sales Manager National Sales Director Managing Director

1-3 years

4-8 years

9 years +

?26,000 - ?30,000 ?30,000 - ?33,000 ?30,000 - ?33,000 ?38,000 - ?42,000 ?42,000 - ?50,000 ?50,000 - ?60,000 ?50,000 - ?60,000 ?60,000 - ?70,000 ?70,000 - ?80,000 ?70,000 - ?80,000 ?80,000 - ?90,000 ?90,000 - ?100,000 ?100,000 - ?120,000 ?120,000 - ?130,000 ?130,000 - ?150,000

?30,000 - ?35,000

n/a

n/a

?45,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000 ?40,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000 ?80,000 - ?100,000 ?90,000 - ?110,000 ?100,000 - ?120,000 ?80,000 - ?100,000 ?100,000 - ?120,000 ?110,000 - ?130,000 ?100,000 - ?120,000 ?120,000 - ?150,000 ?150,000 - ?200,000

" Forward thinking employers are now developing innovative remuneration packages which include: flexible working environments, enhanced bonus schemes and fasttracked career progression to stand out form the competition when attracting candidates."

2019 Salary Guide - Financial Services - Wealth Management

North West - Page 11

South West

Page 12 - South West

JOB TITLE

Operations Administrator Paraplanner Operations Manager Operations Director Chief Operating Officer

Consultancy Trainee/Junior Financial Planner Financial Planner (With clients) Financial Planner (Without clients) Regional Sales Manager National Sales Director Managing Director

1-3 years

4-8 years

9 years +

?26,000 - ?30,000 ?30,000 - ?33,000 ?30,000 - ?33,000 ?38,000 - ?42,000 ?42,000 - ?50,000 ?50,000 - ?60,000 ?50,000 - ?60,000 ?60,000 - ?70,000 ?70,000 - ?80,000 ?70,000 - ?80,000 ?80,000 - ?90,000 ?90,000 - ?100,000 ?100,000 - ?120,000 ?120,000 - ?130,000 ?130,000 - ?150,000

?30,000 - ?35,000

n/a

n/a

?45,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000

?40,000 - ?55,000 ?55,000 - ?65,000 ?65,000 - ?90,000

?80,000 - ?100,000 ?90,000 - ?110,000 ?100,000 - ?120,000

?80,000 - ?100,000 ?100,000 - ?120,000 ?110,000 - ?130,000

?100,000 - ?120,000 ?120,000 - ?150,000 ?150,000 - ?200,000

95%

of employers expecting business activity to increase and three quarters expecting to hire during 2019.

2019 Salary Guide - Financial Services - Wealth Management

South West - Page 13

2018 has seen significant growth across all our practice areas, as the UK economic outlook continues to improve. Despite uncertainty about Brexit, 95% of employers are expecting business activity to increase and three quarters expecting to hire during 2019.

Talent attraction remains the key challenge for business leaders, with 92% experiencing skills shortages over the last 12 months. Highlighted by the fact the UK employment market saw 56% fewer active candidates in 2018 versus 2017, while the number of businesses recruiting has increased by over 25% in the same time. This increased competition will put further pressure on the "war for talent" with the trend of increasing salaries set to continue over 2019, driven by the limited availability of, and strong competition for, experienced talent across all sectors of the market.

Our own research has suggested that although salary is still a key factor in choosing a new employer, work / life balance and working with colleagues

who inspire them, are now vitally important. Leading employers are now adapting their packages to provide more flexible working practices to attract the best individuals ? with the increase in productivity beginning to become apparent as employees are more motivated, engaged and less likely to leave.

Technology is continuing to revolutionise the Recruitment process, with new tech tools appearing on a daily basis. Efficiencies can be found at the attraction stage of the recruitment cycle, however for the mid-to-senior appointments, now synonymous with IDEX, we still need human interaction to successfully bring two parties together and I don't see this changing. In fact, exclusively using one recruiter, whether looking for work or sourcing talent for your business, is now proven to deliver the strongest results. Many of our clients retain IDEX on a quarterly basis to create medium-term talent nurturing solutions, in order to secure the very best individuals to drive their businesses forward. Individuals have now realised the danger of registering with multiple recruitment firms, as many still unscrupulously send CV's and personal data to possible employers without the individuals permission.

IDEX's culture is based around delivering an exceptional Client and Candidate experience, allowing us to work as "Trusted Advisors"... something we believe a Recruitment Consultant should be. There to provide advice and guidance all the time, not just when you're looking for a job or recruiting talent.

We would love to hear your feedback on IDEX, please contact me directly with any positive comments or constructive feedback.

Matt Green Cert CII, FIRP Chief Executive Officer M 07974 859 860 E matt.green@

Page 14 - CEO Commentary

2019

Salary Guide

INSURANCE BROKING

General Insurance Insurance Broking

2019

Salary Guide

INSURANCE COMPANY & MGA

General Insurance Insurance Company & MGA

2019

Salary Guide

FINANCIAL SERVICES - EMPLOYEE BENEFITS

Financial Services Employee Benefits

2019

Salary Guide

FINANCIAL SERVICES - RISK & COMPLIANCE

Financial Services Risk & Compliance

2019

Salary Guide

LEGAL EXPERTISE

Legal Expertise

2019 Salary Guide - Financial Services - Wealth Management

Other Sectors Guides - Page 15

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