Three private bankers at Fairbairn Private Bank's Isle of Man office have recently achieved the Level 6 Chartered Institute of Securities and Investment Private Client Investment Advice and Management (PCIAM) qualification. Beckie Williams achieved a distinction while both Rebecca Laforey and Allie Kirk achieved merits in their results for this qualification.
By achieving level 6 status, the bank's staff have gained qualifications that are substantially higher than the required level. The UK's Financial Services Authority (FSA) Retail Distribution Review (RDR) makes clear that by the end of 2012 all persons who provide investment advice are required to obtain the minimum standard of an Ofqual* approved Level 4 qualification. Although RDR currently only applies in the UK, and is only being considered for the Isle of Man by January 2014, all of the bank's private banking staff are in the process of achieving a minimum level 6 qualification. With a...
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