Specialism Within IFA Administration
Exchange Street Consultant, Leanne Fairhurst specialises in recruiting experienced administrators and paraplanners and takes a look at current trends in how employers are defining their requirements for support staff.
Over the past few years following RDR, we are increasingly finding that many of our clients are looking for administrators and support staff with specialist skills and experience of particular product areas. Where many IFA practices had simply looked for individuals with experience of working in a similar environment, we are now finding that employers are keen to identify support staff with a clear focus on a specific discipline. For example, some of our current active vacancies include SIPP administrators in Manchester, SSAS administrators in London, Investment administrators in London and Cheshire and mortgage administrators in Newcastle.
While much of the market is still made up of small practices, there will always be opportunities for administrators with experience across all areas who are flexible enough to be able to assist advisers with whatever they need. However, as many large nationals and consolidators continue to be acquisitive, there is undoubtedly a growing movement towards specialism.
In trying to provide clients with genuine value in line with fee based charging structures, it’s clear that many forward thinking practices have recognised how important technical support staff are and how much they can add to the overall client service while advisers look to optimise their time in front of clients and developing new business opportunities.
We have also seen a significant increase in the rewards on offer with many administration roles now commanding salaries of up to £30,000 with benefits and in some circumstances bonuses. Many employers are also investing heavily in developing their back office staff by supporting them through advanced qualifications providing ambitious administrators with an exciting career path.
Leanne is currently working on a number of vacancies throughout the UK for both specialist and generalist administrators. If you would like a confidential chat regarding a new role please do not hesitate to contact her on 0161 973 6900.