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CFP status is high on employers' wishlist
Certified Financial PlannerCM status is high on the wish list of employers as they continue to recruit highly qualified individuals, a jobs report has concluded.
Recruitment firm BWD said academic excellence is frequently a differentiator when promoting their proposition.
High quality Financial Planners were also found to have plenty of job opportunities available.
That was the conclusion from the 2014-15 census on salaries and benefits in the financial services industry carried out by BWD.
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The Financial Planning divisions of discretionary investment management firms have been leading the way in seeking advisers of all levels.
The integrated model between investment management and Financial Planning firms is seen to strengthen the client service proposition, BWD said, adding it has seen recruitment hires increase due to business growth.
The authors of the report said: "It has been a busy start to the year and firms seemed to turn their attention to recruitment slightly earlier than the normal post-Christmas break.
"There are many good opportunities around for high quality Financial Planners, particularly at a senior level.
"Chartered and/or CFP status remains high on the wish list of employers as they continue to recruit highly qualified individuals. Large parts of the industry have embraced the need for academic excellence and it continues to be a differentiator when promoting their proposition.
"There is also an increased appetite for strong business developers – whilst these types of individuals have always been sort after, it seems this is even more so in the current market."
Some firms have realised that they need to push their salary ranges and offer sizeable uplifts to extract the best people, the researchers said.
But employers still looking for solid, experienced planners at £50-60K struggle because these individuals are paid that amount already and looking towards the £75K mark.
The report said: "Roles in this 'middle ground' seem difficult to fill with employers seemingly unwilling to consider young, up-and-comers, yet not paying enough to attract experienced planners. This prompts questions about progression for junior advisers, of which the industry is already suffering a lack."
BWD said that 2014 proved to be a "strong and robust year for advisory firms as the mood of confidence continued, buoyed by a strengthening economy and pensions reforms".
The report found total earnings for advisers has risen and demand for Paraplanners is outstripping supply.
See more on both of these stories in the related articles beneath.
Salaries for Paraplanners were found to be rising – with the estimated average for 2015 being £33,945 compared with £29,904 for 2014.