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Market Commentary

RDR Opportunities

February 2012

A number of Wealth Managers and Financial Planners, are looking to dispose of their businesses because of the implementation of RDR by the end of the year.

This will affect smaller size businesses and individuals who do not wish to become RDR accredited. Therefore a number of highly qualified Individuals with client banks, will be looking for new homes. Larger firms with more resources, including more sophisticated back office systems, are looking to offer these individuals attractive and rewarding packages for transferable business. One of the key aspects of RDR is the requirement for Financial Planners to be to be Diploma qualified.

Therefore with this clear specific intention, it now means that 2012 has become a great opportunity to grow a business.

We have a number of firms looking for these individuals or Company Teams and those with particular expertise, such as - Estate Planning, Personal Injury settlements and specialist Private Client Investment Managers.

Nelson Scott joins Team

January 2012

Nelson Scott joins Team - The UK's largest network of Independent recruitment and employment agencies, within Team Executive for specialist recruiters

Nelson Scott hires Asset Management Specialist from Piedmont to develop their Executive Search Business

November 2011

We are pleased to announce the arrival of Raff Flackett at Nelson Scott who joins us from London boutique - Piedmont Executive Search.

During his time at Piedmont, Raff successfully completed a number of senior level assignments in the Private Banking and Asset Management industry both in the UK and throughout Europe.

Raff's experience and expertise covers various facets of the investment management industry, including Senior Relationship Managers, Business Developers and Marketing Specialists as well as Fund Managers and Researchers.

His assignments have covered the UK, both in London and regionally as well as Continental Europe, including mandates as far away as Moscow, where his Russian language skills have proved invaluable.

If you would like further information, please call Raff on 0207 763 6030 or email him on rflackett@nelson-scott.com

Increasing demand for specialist contractors

September 2011

With market uncertainty and the implementation of the new Employment Legislation (effective 1st October 2011) there will be an increasing demand for specialist contractors.

The early summer of 2010 witnessed a huge uncertainty in capital markets as evidenced by a 17% fall in the FTSE between April and June 2010 and an associated rally in UK Gilts. A year on and another significant fall has occurred, this time resulting in a 21% fall in the FTSE 100. Gold has also soared to ever higher levels as well.

The latest market fall has been fuelled by extreme dislocations in the European debt markets as central banks and other investors have dumped peripheral Euro debt to switch into bonds which are perceived to be safer...

It has been a painful few weeks and companies have had to revise many of their forecasts for growth and interest rates. However we can hope that this turmoil hastens the day that a political regime is created which can cope with the problems. Bond prices have moved with little or no rationality which could create huge opportunities.

Value is clearly demonstrated in bond markets, especially as the low interest rate environment is likely to stretch until 2013 and even 2014.

Nelson Scott establish a Specialist Contractor Desk

Over the last few months we have been receiving an increasing number of requests for contractors from clients who have urgent needs to fill roles but either cannot find suitable permanent staff, require maternity cover or have had their permanent headcount temporarily frozen.

Nelson Scott have now established a dedicated specialist contract desk to service this growth. Current contractors are in roles ranging from accountant to analyst and we have a growing requirement in the following sectors:-

  • Analysts
    Bond, Equity, Fixed Income, Management Information, Performance, Credit, Research
  • Compliance (Managers/ Consultants)
  • Private Banking Support
  • Portfolio Managers
  • Product Fund Development
  • Funds Accountants
  • RFP Marketing Executives
  • Operational Risk
  • Marketing Managers
  • Client Relationship Managers
  • Pensions administration (DB/ DC)
  • Paraplanners
  • Employee benefit Consultants
  • Wealth Advisors

Please contact either Jane Paton or Nick Shires on 0207 763 6030, alternatively email info@nelson-scott.com to discuss your contractor requirements.

Agency Workers Regulations 2011.

These new regulations (effective 1st October 2011) govern the rights of agency workers, give temporary staff equal treatment with regards to basic working and employment conditions after 12 weeks service in the same role.

Equal treatment under the regulations relates to basic working and employment conditions such as – working hours, overtime, breaks, rest periods, holidays and access to training and facilities such as childcare. The directive does not include pension provision and occupational sick pay, nor do the regulations change the employment status of temporary agency workers to that of permanent employees after the 12 week period.

Please contact either Jane Paton or Nick Shires if you would like further clarification on these new Regulations.

Is the UK Economy back on track?

May 2011

Financial Services sector and its importance to the UK Economy.

The financial and related professional services sector employs almost 2m people across the country or 10% of the working population. For financial services, over 70% of those jobs are outside London, showing the national reach and value to the economy. In Cardiff, for instance, 65% of people think that the sector plays a positive role in their community - and 77% are proud that the UK has a globally competitive industry. Too often the story about the value of our sector gets lost in the “Westminster Village” noise.

The resilience of this sector through another bout of economic turmoil in the UK and Europe is, in our view, amazing and something of which we should be proud and properly recognised by the economic authorities.

Equity markets continue to be resilient in face of much negative news in recent weeks. The main events have been political uprisings in the Middle East North Africa (MENA), the Japanese earthquake and the continuing concerns about imminent default in the Eurozone periphery. More recently, S&P has drawn attention to the fragility of the US economy and size of its fiscal deficit by downgrading the outlook on its debt, although it retains its AAA rated status. Against this backdrop, the oil price continues to rise relentlessly, a de facto tax on consumers and business alike, and in the developed world the turn in the interest rate cycle has arrived with the ECB raising rates last month. Meanwhile in the emerging economies, inflation continues to surprise on the upside and many countries have been forced into various measures of monetary tightening, including aggressive interest rate rises.

The point is that the factors that have driven the current bull market are still intact and in many cases are improving. The main points are as follows:-

  • Modest equity valuations as against other asset classes. Equities, as a real asset, are also an excellent hedge against inflation;
  • A global recovery (including the USA) growing at a respectable pace;
  • In the UK a stronger than expected recovery in company earnings than the GDP would suggest. In the current reporting quarter earnings are (in most cases) comfortable exceeding expectations;
  • Quoted companies, unlike the UK Government and parts of the private sector, have planned well in advance for the recession and as a consequence are relatively under geared.
  • It would appear that the risk of Deflation has been all but defeated, but the aggressive monetary policy of world banks, especially the Federal Reserve, has created an upside risk for inflation now

Therefore Nelson Scott expects the 2011 recruitment uplift to mirror that of last year.

Salary Benchmarking, Expert Market Knowledge, Confidential Advice.

Wealth Clients Demand More

January 2011

With Wealth Management companies already planning for recruitment in early 2011 and awaiting budget sign off, it is the clients who are demanding more.

Investment Management is already operating in a fiercely competitive field with a deep and expanding pool of highly competent and well resourced firms. In such an environment it is becoming very hard for firms to compete solely off theback of a firm’s investment capabilities and resultant performance numbers. It is also recognised that investors are increasingly making different demands of their advisers and investment managers compared to 5 years ago.

With the unpredictable nature of investment returns and alpha generation a business can easily find itself hostage to factors outside its control. A good investment process is today largely a given and the winners over the next 5 years will be firms who can differentiate themselves and attract clients in other ways specifically increased quality of service covering:-

  • Advice and services being more focused on specific goals.
  • Products and services being simple and transparent.
  • High quality reporting relevant to their goals and circumstances.
  • High quality risk management and scenario (potential loss) analysis.

As we enter a period of significant change over the next 2 years which in turn will generate untold opportunity for individuals and firms who have the flexibility to adapt to the evolving needs of the market and investors. Therefore in order to attract a constant flow of new business from either introducer relationships OR third party investment outsource relationships these additional client requirements will become paramount when seeking new business.

As Nelson Scott is one of the UK’s leading sales and marketing recruiters, we offer a focused, informed and broad view on the market requirements for Marketing and Investment Sales Professionals.

Our specialist recruitment services also provide :-

  • Confidential assistance and advice preparing job specifications
  • Free salary bench marking.
  • In depth expert market knowledge and trends.

Other areas covered are:- Investment Managers, Risk, Compliance and Accountants.

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