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A Rewarding Career In Financial Advice Or Cuddling

Posted on
August 24, 2018

I read an article this week that perplexed me a little. I am quite an open-minded chap, but an event called the Cuddle Club, aiming to promote bonding within groups and pairs was announced. During the day, attendees are required to cuddle each other in a variety of different positions and need to switch partners every two hours. I had to check the validity of this and it is true.

The Cuddle Club is being promoted as a means of reducing stress in the workplace. The comments from senior people within the recruitment industry were to the point and certainly ‘not feeling the love’ for the event. It has been a rather stressful week for me but reading this cheered me up.

Banter is Back

On the theme of cheering people up, the football season is back underway. Great news for many in the office, but those groans of “already” and “when does the season end” are already very prominent. Discussions about fantasy leagues, accumulators and he played woeful, or words to that affect, produces excellent banter and provides people with a bit of a lift. Not a cuddle in sight.

It is also surprising the eclectic mix of teams supported in the office. We even have a Peterborough fan, because “apparently” he played for them at junior level, but many of us in the office have our doubts, especially after seeing him with a football on the recent BWD sports day.

Banter to Brexit

I am hoping the Government paper on preparations for a No Brexit Deal really does hit home. This is no laughing matter now and hopefully this will give the negotiating teams, both UK and EU, the boost they require to get around the table, daily if necessary, until a deal is in place. It is frightening on how much thought has gone into a No Brexit Deal preparation, but at least there is a plan.

Future of Financial Advice

This is a debate that has been running for a long time, but whichever way you look at it, new blood is required in the industry. The work undertaken by Tom Hegarty and the team at NMBA is fantastic and hope this continues. I believe that apprenticeships are certainly an avenue that should be explored by firms. This article and the comments certainly back this up

At BWD, we have seen a significant increase in Trainee positions, in particularly Paraplanners. Granted, these are not apprenticeships, but it is another route to getting people into Financial Advice and plug the gap that clearly exists.

Back in June, Prudential announced an adviser training programme, aimed at people who had not previously worked in financial services. This will see all entrants become qualified financial advisers within 18 months and is a significant investment for the insurer. Will others follow their lead? Who knows, but all the activity we are seeing is great progress into a rewarding profession, often overlooked.

If advice is not the career for you, Team Tactics, the people behind the Cuddle Club, are looking for professional cuddlers to help run classes. You will be paid £30 per hour, but you must have experience in a similar role and ideally have a psychology background. Hmmmmm.

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BWD Financial Services Earnings & Benefits Census 2021/22

This BWD Census is designed to be the definitive reference guide to salaries, earnings, and benefits in the UK financial services sector.

It is carried out entirely independently of any FS employer and embraces Advisers, BDMs, Paraplanners, and Compliance Professionals. Information was gathered from over 550 individuals via an online, confidential questionnaire issued in December 2021 and January 2022.                       

BWD Salary and Benefits Census
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