Idex Consulting Blog

Find general insurance and financial services roles with IDEX Consulting LLP

Nikki Healer — Thu, 17 May 2012 09:00:00 GMT

Ten CV bloopers

At IDEX, we know it is not easy to find the perfect career move: or for employers to find talented professionals. Thank your lucky stars, though, that you did not make any of these well-known CV Bloopers:

"Education: University, August 1880 - May 1984."
"Develop and recommend an annual operating expense fudget."
"Instrumental in ruining entire operation for a retail business."
Job duties: “Filing, billing, printing and coping”.
A CV was received by a company which was printed on the back of the candidate’s current employer’s letterhead.
Problem solving skills: “As a child, I enjoyed building jigsaw puzzles and was always totally focused on finding the missing piece".
Background: “24 dog years of experience in sales (four human)”.
“Took a career break in 1999 to renovate my horse.”
“I am about to enrol on a Business Degree with the Open University. I feel that this qualification will prove detrimental to me for future success.”
A candidate sent her CV and covering letter without deleting a friend’s editing, which included comments like: “I do not think you want to say this about yourself here”.

If you are looking for your next career move, or looking to recruit a qualified employee, come to the professionals at IDEX.

IDEX brings companies together with talented candidates who have the right skills and aligned values and goals. The team has over 90 years of combined recruitment experience within the General Insurance and Financial Services sectors. IDEX serves the whole of the UK, with offices in Birmingham, Bristol, Manchester and London.

Subscribe to the IDEX Newsletter now for recruitment tips and insights.

How to Turn RDR into an Opportunity

Tony Bates — Tue, 15 May 2012 09:00:00 GMT

The Retail Distribution Review will bring seismic changes to the financial services industry and there is understandably widespread anxiety about its consequences. However there is a more positive way of looking at it; RDR provides an opportunity for proactive firms to gain an advantage over their competitors. Here we provide our guide to getting ahead in the post-RDR world: both for companies and individuals.

1. Flight to quality providers

The move to higher professional standards was badly needed in the industry, which has lost credibility in recent years. The Association of British Insurers found that two-thirds of people thought financial advice on pensions, savings and investments was worthless.

The new focus on the consumer means clients can trust qualified advisers to give truly independent advice. There will be a sharp distinction between IFAs and advisers only allowed to offer a limited range of products and providers. This will mean a flight to quality providers who make services transparent.

Individual IFAs need to take responsibility for attaining their qualifications. Companies will not carry people and passing the exams requires drive and determination.

2. Advantages of the new pay structure

There is an argument that the switch to charging consumers an up-front fee means only high net-worth individuals will seek financial advice.

But RDR also brings an opportunity to create new pricing policies with broader value-for-money appeal. A lot of fund managers have anticipated RDR by introducing commission-free fund share classes. Savvy firms will continue serving less wealthy clients by developing execution-only services alongside their full advice offer.

If your company is still scrabbling around to pull together a fee-based proposition, you should seriously consider moving to a company which is ready and sailing in the right direction. Contact IDEX for advice. There will be IFA companies that survive and others that do not - it is as simple as that.

3. Developing a strategic focus

The famous phrase “If you fail to plan, you plan to fail” applies perfectly to RDR. Companies need strategies based on close analysis of all the opportunities and threats it poses.

First, firms have to be clear about where they offer added value and then use that insight to make long-term plans. The best firms will focus on innovation and finding alternative ways to serve average consumers.

Second, firms must ensure they communicate the advantages of their services and remuneration models in the clearest way possible. The key to surviving in the post-RDR world is to embrace the spirit of transparency for the consumer.

Third, company bosses will play a major role in developing a visionary strategy. They need a clear-headed assessment of both their own and their competitors’ strengths. An ability to implement complex long-term strategies will help companies stand out in a crowded market.

Finally, changes should be made with all possible haste. The best firms are preparing rigorously for RDR and will hit the ground running on January 1st, 2013.

To read more on this topic, register for our newsletter. You will gain vital insight on Financial Services from the experts at IDEX. To register as a candidate, see www.idexconsulting.com

Professional recruitment services from IDEX Consulting LLP

Nikki Healer — Thu, 10 May 2012 09:00:00 GMT

Three crazy job seeker tactics: which actually worked.

At IDEX, we know that people will go to some extreme lengths to find a new job...

1. Auctioned on eBay

Instead of putting his old furniture online to make some quick money, one job seeker put himself on eBay. After he had emailed all his contacts to let them know he was on eBay, the crazy candidate was quickly snapped up by a new employer.

2. CV stall

Another courageous job seeker found an unusual way to get herself in front of potential employers. She set up a stand outside her block of flats on a hot day and gave out bottles of water - and copies of her CV. Just a few weeks later, the HR Manager of a large company offered her a job on the strength of her quirky job application.

3. Dodging traffic

One determined job seeker found his next role after donning a sandwich board. The Dallas graduate bravely stood in one of the busiest intersections in the city at the busiest time of day with a sandwich board announcing "Brand new, hardworking MBA needs work". He got a job the same day.

When you are looking for your next career move, you do not have to go to the extreme measures these candidates did. Come to the professionals at IDEX.

Book a career consultation now to find out how we can help you.

Why RDR is attracting talented graduates to the financial services sector

Tony Bates — Wed, 09 May 2012 09:00:00 GMT

For years, accountancy has been the go-to profession for bright young talent – financial advice and financial planning barely got a look in and few wanted to join a financial advice firm on graduation.

That has slowly changed in the past decade, and now a career as an Independent Financial Advisor is being placed alongside accountancy in terms of professionalism.

RDR will further enhance that reputation and boost the talent pool as more graduates look to take level four qualifications at university that will allow them to kick-start their careers straight after graduating.

Many students are also opting for higher qualifications than those required by RDR. It is becoming more and more usual for graduates to hold level six qualifications such as the Chartered Financial Planner qualification, issued by the Chartered Insurance Institute, or the Certified Financial Planner qualification, issued by the Institute of Financial Planning.

There are lots of ways for graduates to start a rewarding career in financial services, either as an Administrator, as a trainee Paraplanner or trainee Advisor, safe in the knowledge that they are working with fellow professionals. Financial Advisors are no longer seen as the poorer relation to accountants and solicitors and are now found working alongside them to deliver holistic financial and life planning to consumers.

To read the full version of this article, which discusses other effects RDR is having on recruitment, please download Why RDR is a win-win situation for recruitment.

Globalise Yourself: How Insurance Professionals can Take Advantage of International Job Opportunities

Matt Green — Tue, 08 May 2012 09:00:00 GMT

Insurance professionals increasingly need a global view of the industry. The British market has consolidated since the financial crisis, but there is no reason to limit yourself to the UK when emerging markets around the world are growing much faster than anywhere in Europe. Speaking English is a major advantage in landing an international role and British insurance professionals have a strong reputation, which means emerging markets are crying out for their expertise. We look at the best ways to access the global insurance jobs market.

Alternatively, go to the interactive info graphic for Globalise Yourself: How brokers can take advantage of international job opportunities.

1. Overseas markets

In a globalised marketplace, experience abroad can enhance your career progression when you return to the UK. Of course, there is also the possibility that you like it so much overseas that you decide never to come back.

With its expanding economies, Asia offers one of the most dynamic markets for insurance professionals looking for a job overseas. The biggest western firms usually have offices in China, Japan, Hong Kong and Singapore. A broker based in Singapore, which is a regional hub for Asia Pacific, could do business in Indonesia, Vietnam, Thailand, Korea and Malaysia.

India’s insurance market is accelerating with the rise of mass consumerism. The burgeoning Indian middle-classes are keen to invest in insurance, and so are the country’s wealthy businessmen. Plus there is room for growth in the market, which makes it attractive for international insurers.

China is another market with enormous potential thanks to a huge population and rampant consumer growth. The Chinese insurance market grew 33 per cent in 2011, but still has low penetration rates. Foreign firms account for around 5 per cent of the life market and a smaller share of the general insurance market. This share is likely to grow.

2. Networking

In a globalised world, the efforts of any organisation or individual can be enhanced by cooperation. This trend is felt strongly in insurance in general, but especially in the broking market. Collaboration plays a critical role in the ability of both firms and individuals to deliver programmes internationally.

When brokers group together into networks, the close relationships bring numerous mutual advantages. Brokers can tap into the specialist local and technical expertise of fellow members. Through interacting with fellow professionals all over the world, they become more aware of the rapid changes in the global market.

Two of the biggest networking organisations are the Worldwide Broker Network and Globex. They have built tight-knit communities of top brokers around the world who collaborate closely.

3. Finding jobs abroad

Your ability to land a job overseas may depend on your knowledge of global markets, so keep abreast of recent developments and take advantage of global networking sites. Your role overseas may involve speaking English in large cosmopolitan cities such as Tokyo and Hong Kong’s Central, or in English-speaking parts of the world, but learning the language of a target destination shows the commitment and drive to work overseas.

As well as looking to the media to search for job opportunities overseas, try signing up with reputable recruitment agencies that specialise in recruiting within your target country and market.

Jobs abroad can be permanent positions or short-term contracts. Both can enhance your career as you will develop specialist knowledge and skills, as well as learn to become more flexible in different working conditions. A significant percentage of expatriates work in several countries until they find one that suits them, whilst others return to the UK with their career possibilities enhanced.

To read more on this topic, register for our newsletter. You will gain vital insight on General Insurance from the experts at IDEX Consulting LLP. To register as a candidate, see www.idexconsulting.com

Four ways to progress your career as a Financial Advisor - Part 2

Tony Bates — Fri, 04 May 2012 09:00:00 GMT

At IDEX Consulting LLP, we have found employers are looking for certain qualities in financial services professionals. We have outlined the four main ones for you in an article:

Business development skills

These skills include intelligence gathering, generating leads for possible sales, advising on drafting policies, and strategic analysis. Networking skills and interpersonal skills can also be invaluable.

Using social networking: How to gain contacts

Building networks can be done at conferences, or via email and social media. Specialist networking sites can also be invaluable. However, do not forget that successful networking is about building reciprocal relationships.

Getting ready for RDR and taking the long-term view

It is no longer possible to develop commercial skills at the expense of getting qualified. After RDR rules come in, employees will have to have Level 4 certification, or be severely limited in their careers.

Choosing your career path

Employers are impressed by professionals who know what they want and show ambition and drive.

Find out more now in our eGuide Four Ways to Progress Your Career as a Financial

Find general insurance and financial services roles with IDEX Consulting LLP

Nikki Healer — Thu, 03 May 2012 09:00:00 GMT

Three of the oddest job interview answers

IDEX brings companies together with talented candidates who have the right skills and aligned values and goals. Sending the wrong candidates to job interviews is a waste of everyone’s time, as these extreme examples show:

In a job interview, a candidate was asked: “When can you start in the role?” They answered: “I’ll need to check with my mum”.
A candidate was asked if they had any questions. They asked: "What do you want me to do if it is raining and I can’t walk to work? Can you pick me up?"
A candidate being interviewed for a role as an accountant was asked what he didn’t like about his current job. His answer? “I do not really like working with numbers.”

If you are looking for your next career move, or looking to recruit a qualified employee, come to the professionals at IDEX. The team has over 90 years of combined recruitment experience within the General Insurance and Financial Services sectors. IDEX serves the whole of the UK, with offices in Birmingham, Bristol, Manchester and London.

Contact us now to book a consultation with one of our experienced recruitment consultants.

What you need to know about RDR Now - Info Graphic

Tony Bates — Tue, 01 May 2012 09:00:00 GMT

Read the info graphic from IDEX Consulting LLP explaining everything you need to know about the new RDR regulations. Alternatively, go to the interactive info graphic version of What you need to know about RDR now.

How to recruit future general insurance stars

Matt Green — Thu, 26 Apr 2012 09:00:00 GMT

Talent is in demand in today’s competitive market and the interview process is the first formal impression a candidate makes of your business. Here are some of the steps businesses should take when they are hiring:

Promote your business values

Many businesses fail to realise that potential employees must feel comfortable with both the services they will be offering and the culture they will be working within. It is crucial for companies to identify the key values that set them apart within the insurance industry.

Perfect the interview process

The interview process is the first formal impression a candidate makes of your business. In today’s competitive market, it is wise to show your organisation in the best possible light.

To read the full version of this article, download Four ideas for recruiting the best talent in the general insurance sector now.

Four Ways to Progress Your Career as a Financial Advisor - Part 1

Tony Bates — Thu, 26 Apr 2012 09:00:00 GMT

How to Progress Your Career as a Financial Advisor

At IDEX Consulting LLP, we are finding that employees expect candidates to be both superbly qualified as well as having the people skills necessary to bring in new business. Here are the skills and knowledge that we have found job seekers need:

Business development skills

Business development skills provide a competitive edge in the job market. A top professional is now expected to drum up business for the firm.

Social networking

Great networking skills are essential because they are a great way to create business opportunities. Employees need to find a way to get to know a lot of people in the industry, then convert those contacts into work opportunities.

Getting ready for RDR

Employees used to be able to choose between developing commercial skills and becoming well-qualified. When RDR rules come in on January 1st, 2013, professionals will have to take a long-term view and get properly qualified.

Choosing your career path

Employers are impressed by professionals who know what they want and have a definite career path in mind.

Idex Consulting Blog

Find general insurance and financial services roles with IDEX Consulting LLP

Ten CV bloopers

Subscribe to the IDEX Newsletter now for recruitment tips and insights.

How to Turn RDR into an Opportunity

1. Flight to quality providers

2. Advantages of the new pay structure

3. Developing a strategic focus

To read more on this topic, register for our newsletter. You will gain vital insight on Financial Services from the experts at IDEX. To register as a candidate, see www.idexconsulting.com

Professional recruitment services from IDEX Consulting LLP

Three crazy job seeker tactics: which actually worked.

1. Auctioned on eBay

2. CV stall

3. Dodging traffic

Book a career consultation now to find out how we can help you.

Why RDR is attracting talented graduates to the financial services sector

To read the full version of this article, which discusses other effects RDR is having on recruitment, please download Why RDR is a win-win situation for recruitment.

Globalise Yourself: How Insurance Professionals can Take Advantage of International Job Opportunities

1. Overseas markets

2. Networking

3. Finding jobs abroad

To read more on this topic, register for our newsletter. You will gain vital insight on General Insurance from the experts at IDEX Consulting LLP. To register as a candidate, see www.idexconsulting.com

Four ways to progress your career as a Financial Advisor - Part 2

Business development skills

Using social networking: How to gain contacts

Getting ready for RDR and taking the long-term view

Choosing your career path

Find out more now in our eGuide Four Ways to Progress Your Career as a Financial

Find general insurance and financial services roles with IDEX Consulting LLP

Three of the oddest job interview answers

Contact us now to book a consultation with one of our experienced recruitment consultants.

What you need to know about RDR Now - Info Graphic

How to recruit future general insurance stars

Promote your business values

Perfect the interview process

To read the full version of this article, download Four ideas for recruiting the best talent in the general insurance sector now.

Four Ways to Progress Your Career as a Financial Advisor - Part 1

How to Progress Your Career as a Financial Advisor

Business development skills

Social networking

Getting ready for RDR

Choosing your career path

Find out more now in our eGuide Four Ways to Progress Your Career as a Financial Advisor.