Premier Jobs UK

Highlighting best practice as a representative in The Parliamentary Review

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Premier Jobs UK is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

www.premierjobsuk.com

1PREMIER JOBS UK |
BEST PRACTICE REPRESENTATIVE
Owners and Directors:
RyanVenner (left) and Gary
Venner (right)
Helping candidates make
the right move
Premier Jobs UK was established in 2007 and focuses on
providing candidates for financial services positions. They
have achieved year-on-year turnover growth of between
20 and 40 per cent since inception. Gary Venner co-founded
the company after a progressive career spanning over 20 years
at Barclays Bank and as a Sales Director of a wealth business.
He discusses the fall in adviser numbers since the 1980s and the
need for the sector to address the advice and savings gap.
We are an independently owned company and recognised as one of the UK’s
market leaders in financial services, permanent recruitment and acquisitions of IFA
businesses. What sets us apart is our field-based recruiters, covering all regions of
the UK, who have substantial industry experience. Many were financial advisers or
ran teams of advisers, meaning they understand the roles our candidates undertake
and what our clients need.
As corporate members of the Recruitment and Employment Federation, we follow
their code of professional practice, which creates a clear framework of values and
principles. Beyond compliance with legal requirements, this extends to honesty, the
equitable treatment of candidates and clients, integrity, and social responsibility.
We are advocates of professional learning and apprenticeship schemes, and all
of our head office staff have obtained recruitment diplomas. In addition, all staff
receive extensive financial services industry training for the myriad of adviser,
compliance, management and support staff positions.
FACTS ABOUT
PREMIER JOBS UK
»Owners and Directors: Gary
Venner and Ryan Venner
»Established in 2007
»Based in Calne, Wiltshire
»Services: Financial services
recruitment and acquisitions
»No. of consultants: 15
»No. of clients: Over 400
regular clients
»Roles: Chartered Planner,
Financial Adviser, Mortgage
Adviser, Equity Release,
Paraplanners, Administrators,
Compliance Managers, Area
Sales Directors, etc.
Premier Jobs UK
THE PARLIAMENTARY REVIEW
Highlighting best practice
2| PREMIER JOBS UK
We review up to 200 candidates per
day, and our skill is matching the
right candidate with the right job. This
is achieved by understanding their
skills, knowledge and achievements,
alongside their motivations and
career aspirations. It is also crucial to
recommend only the most suitable
jobs. This helps candidates to secure
their ideal roles and helps our busy
clients to appoint suitable candidates.
Many candidates and clients choose to
work with us exclusively because of our
professional recruitment methods, as
we stay connected with our candidates
and hiring managers throughout the
entire process.
Overcoming early obstacles
Established in 2007, the business grew
quickly to over 1,000 bancassurance
vacancies. Following the 2008 financial
crisis, this dropped significantly to less
than 30.
In 2013, adviser numbers fell to the
lowest recorded number of 22,000,
largely due to the implementation of the
Retail Distribution Review. This required
advisers to be more transparent with
their client fee structures and undertake
professional qualifications to a minimum
Level 4 diploma. Subsequently, many
advisers left the industry, and the
banks pulled out of providing face-to-
face advice to retail clients.
With many competitors leaving the
sector, there was concern for our
own survival. We quickly adapted
by proactively seeking new client
relationships with successful financial
adviser firms and leading networks,
searching for where the market was
strongest and where there was a gap
in the market created by the banks.
Employed roles that were previously
considered secure became unreliable
for even the best performers. We
helped many SME firms to grow their
sales forces by offering self-employed,
as well as employed, contracts.
Helping clients and candidates to
create workable business plans became
a honed skill of our recruitment
consultants, helping both parties to
identify how they would develop
a profitable and client-centric
relationship. Offering clients highly
competitive placement fees meant
that smaller clients, as well as larger
IFAs, were keen to use our services.
Underpinning everything is the
strength of our communication. This
has helped us to grow to over 400
clients nationwide, from smaller firms
to the UK’s largest IFAs. Our brand is
recognised throughout the industry,
from consistently advertising in the
industry’s prominent weekly magazine
Financial Adviser
to recruiting via
major job boards, and we now have a
growing number of followers on social
media, as well as regular referrals.
Since inception, we have achieved
year-on-year turnover growth of
between 20 per cent and 40 per cent.
The business moved to larger premises
in 2018. As well as providing room
to expand our head office team, we
now have training room facilities for
weekly one-to-ones, as well as full
teammeetings.
Falling adviser numbers
There has been a tenfold drop in
adviser numbers from 250,000 since
the 1980s, when many direct sales
forces provided doorstep financial
advice. Their demise was largely due
Head office training
event
Many
candidates
and clients
choose to
work with us
exclusively
because of
our
professional
recruitment
methods
3PREMIER JOBS UK |
BEST PRACTICE REPRESENTATIVE
to the tightening of regulations and
the higher cost of compliance. The
adviser market is now dominated by
well-regulated SMEs. Since the RDR,
revenues have risen from the long bull
market and the growth of funds under
management, resulting in a gradual
recovery of advisers to 26,000 in
November 2017.
There is a huge advice and savings
gap in the UK. The good news is that
there is demand for more advisers. By
focusing on affluent clients, where
the costs of advice can be outweighed
by the value that advisers can add,
a sustainable and profitable advice
profession can grow.
We have seen a significant increase
in activity in both sale and purchase
mandates from smaller IFA practices
and sole traders who are looking
to maximise the value of their
client bases, as well as from larger
organisations seeking to add critical
mass by way of acquisitions. Now
recognised as a leading introducer
of IFA acquisitions, we are helping
advisers to retire and exit the industry
while assisting acquirers in recruiting
new advisers and support staff to
service these clients.
The average age of an adviser is mid-
50s, with a third looking to retire in
the next three years. Only five per
cent of advisers are aged under 35.
Therefore, the industry needs younger
people to join by supporting them
to attain professional qualifications.
We support major networks, such as
Openwork’s Academy and Intrinsic’s
Quilter Financial Adviser School, to
help bright young people to join these
programmes. With average earnings
for a qualified adviser of £85,000, and
£38,000 for paraplanners, the industry
will appeal to younger talent.
Looking to the future
With the terms of Brexit still uncertain,
the industry is unclear of the effects
this will have. Many homeowners will
still have mortgages, however, and
will thus need advisers to help them
with the minefield of mortgage deals.
Investors will also still want to know
that their portfolios are being well
managed. By adapting to change and
helping our clients to adapt to new
challenges, this should provide career
opportunities for advisers and support
staff.
Looking ahead, to meet the growing
recruitment need for new advisers
from our existing clients and new
clients, we want to expand our
national presence and grow our head
office team. This way, we can continue
to support our consultants in the field,
as well as grow new talent through
apprenticeships to become recruitment
consultants.
There is a
huge advice
and savings
gap in the UK.
The good
news is that
there is
demand for
more advisers.
Premier Jobs UK team
outside the Wiltshire
head office

www.premierjobsuk.com

This article was sponsored by Premier Jobs UK. The Parliamentary Review is wholly funded by the representatives who write for it.