In The Know

The Latest FS News, Trends & Insights
  • 20 Jul 2016

    Social Learning – The Forgotten Part of 70:20:10?

    The concept of 70:20:10 learning has been with us since 1996. Organisations continue an apparently inexorable march towards the considered perfect balance between Learning in a Workplace Environment (the 70), Social Learning (the 20) and Formal Learning (the 10) that traditionally provided the structure that drove organisational learning & development. AS THE POWER OF THE 10 FADES ... As the power of the 10 fades and more focus in placed on the 70, it is often the middle 20 of Social Learning that is forgotten. Ever since Bandura initially suggested that “Most human behaviour is learned observationally through modelling: from observing others, one forms an idea of how new behaviours are performed, and on later occasions this coded information serves as a guide for action”, L&D departments have sought to harness this concept for their own powerful gain.
  • 20 Jul 2016

    #WomenInLeadership | Episode 2 – Nicky Murdoch

    THIS EPISODE IN THE SERIES FEATURES NICKY MURDOCH, CEO OF DEFENCE MEDICAL WELFARE SERVICE THANKS FOR TAKING TIME OUT FROM YOUR BUSY SCHEDULE TO TALK TO US. AS CEO OF DEFENCE MEDICAL WELFARE SERVICE (DMWS), YOU AND YOUR TEAM PLAY A VITALLY-IMPORTANT ROLE IN THE WELFARE OF SERVICE PERSONNEL AND THEIR FAMILIES. WOULD YOU SHARE A LITTLE ABOUT DMWS AND THE SUPPORT IT PROVIDES? Yes thanks Nigel. St John and Red Cross Defence Medical Welfare Service is a small service delivery organisation that is in “the business of charity”. It has a long and distinguished history of supporting members of the Armed Forces Community when they are in hospital all over the world.
  • 20 Jul 2016

    Donald Rumsfeld & The Apprenticeship Levy … Really?

    WITH LESS THAN ONE YEAR TO GO ... ... before the government’s proposed Apprenticeship Levy is introduced there is a lack of definitive details on the scheme and how it will operate. For organisations this uncertainty could make it difficult to begin planning for the levy’s introduction. They can calculate the amount of Levy that they will need to pay (0.5% of their total pay-bill over £3m), but may feel it is currently impossible to develop the strategies that will allow them to best benefit from the levy’s introduction. However, this absence of detail shouldn’t prevent organisations from beginning their planning and preparations now.
  • 20 Jul 2016

    The (Re)emergence Of The Workplace Coach

    Many Financial Services organisations are developing learning solutions that are shifting the emphasis from ‘trainer-led’ to ‘learner-led’ blended interventions The drive towards learner-led solutions continues to gain momentum: companies being motivated by budget savings and learners motivated by flexible access to the learning curriculum - a ‘win win’ situation! The desire to embrace digital technologies and access the wealth of online learning resources is high on everyone’s agenda. Beyond the work environment we all continually learn in what the Open University calls ‘Incidental’ learning.
  • 20 Jul 2016

    Banking & Finance And The Role Of Women Leaders

    We are experiencing very interesting times, certainly politically but also in the advancement of women. I have just witnessed the appointment of Theresa May as the second female Prime Minister of this country. Coincidently, during the early part of my career I worked under the leadership of the first female Prime Minister, Margaret Thatcher. I take this appointment as a sign of encouragement for all of us who passionately believe in the power and benefits of women’s equality in all sectors. EARLIER THIS YEAR ... Earlier this year, the Treasury sponsored a review of the finance industry, undertaken by the CEO of Virgin Money, Jayne-Anne Gadhia. The finance industry employs more women than men, but in comparison to other sectors retains the largest pay gap between the genders. In 2015, only 14% of the membership of Executive Committees in the finance sector were women.
  • 20 Jul 2016

    Trust DSW To Help You Rebuild Trust

    We’re almost nine years on from the financial crisis of 2007, yet consumer surveys consistently reveal that the UK financial services industry remains one of the least trusted sectors. The reputational damage suffered as a result of this crisis being exacerbated by widespread revelations of gross malpractice across the sector. FOR SIXTEEN YEARS Edelman’s Trust Barometer has tracked the levels of consumer trust across 27 different countries around the world. The 2015 results highlight that only 36% of UK consumers have trust in financial services, placing the UK 19th out of the 27 countries surveyed. This means that two out of every three people surveyed do not trust the industry; an alarming statistic which tells us that consumers believe financial services organisations have not changed despite many protestations to the contrary.
  • 11 Jul 2016

    Disruptive Innovation: Getting Sand Between The Toes

    Will the introduction of the regulatory sandbox enable new entrants to the financial services advice arena to challenge the established adviser way whilst bringing the concept of robo-advice more to the fore? THE THEORY OF DISRUPTIVE INNOVATION ... ... was first coined by Harvard professor Clayton M. Christensen in his research on the disk-drive industry and later popularised by his book The Innovator’s Dilemma, published in 1997. It explains the phenomenon by which an innovation transforms an existing market or sector by introducing simplicity, convenience, accessibility, and affordability where complication and high cost are the status quo. Initially, a disruptive innovation is formed in a niche market that may appear unattractive or inconsequential to industry incumbents, but eventually the new product or idea completely redefines the industry.
  • 15 Apr 2016

    FAMR: Report is Out

    In a nutshell the FCA report seeks to address three main concerns as this extract details: 1. AFFORDABILITY We believe that the RDR has brought about a positive step change in the quality of advice available to those with larger amounts to invest. However, steps need to be taken to make the provision of advice and guidance to the mass market more cost-effective. We make a number of recommendations intended to allow firms to develop more streamlined services and engage with customers in a more effective way. These include a proposal that the FCA should set up a dedicated team to help firms developing mass-market automated advice models to bring these to market more quickly, and that HMT should consult on amending the definition of regulated advice.
  • 14 Apr 2016

    Case Study: CPD

    In The Intensely Regulated World Of Financial Services, Examination Success Is A Must, Particularly For Advisers And Other Client-Facing Staff. Not only are there minimum qualification requirements imposed by the FCA on all those working as financial advisers but in this highly competitive market, there is an increasing need for individual advisers and their firms to ‘stand out from the crowd’ in order to win and retain business.
  • 14 Apr 2016

    Brexit: “In? Out? What’s It All About” for Financial Services?

    BREXIT: "IN? OUT? WHAT'S IT ALL ABOUT" FOR FINANCIAL SERVICES? THE FINANCIAL SERVICES SECTOR’S IMPORTANCE TO THE UK’S ECONOMY AND THE IMPACT ON LEAVING IS CRUCIAL TO THE BREXIT DEBATE, AS: The FS account for 8% of the country’s GDP, and around 3.5% of all British job Financial services and related professional services accounted for 11.8% of UK GDP 
 in 2013 and employed over 2.1million people Financial services accounted for 11.5% of total tax receipts for 2013 and 2014. In addition, the financial sector generated a trade surplus of £67 billion in 2013, more 
 than all other net exporting industries. FDI in the industry was £100 billion.
  • 14 Apr 2016

    Apprenticeships: Time to Review Your Recruitment Strategy

    It Will Come As No Surprise To Realise Major Employers Are Reviewing Their Recruitment Strategies Now In An Attempt To Capitalise On The Apprenticeship Route Without Delay FROM APRIL 2017 ... employers will be taxed in the form of a 0.5% apprenticeship training levy on their wage bill. As there is a £15,000 credit before the levy has to be paid it is those employers with an annual wage bill of over £3m that will be funding the country’s training. Fortunately, whereas the bigger players pay the levy, smaller employers can gain by hiring apprentices and claiming their external training via a different mechanism yet to be determined.
  • 14 Apr 2016

    Apprenticeships: Top of Recruitment Agendas

    WHY ARE APPRENTICESHIPS NOW THE TOP OF RECRUITMENT AGENDAS? APPRENTICESHIPS HAVE BEEN AROUND... ...for a long time, in fact dating back to the 12th century before flourishing by the 14th century. In those days the parents of a minor would agree with a Guild's Master craftsman the conditions for an apprenticeship which would bind the minor for between 5 and 9 years from the age of 14. They would pay a "premium" to the craftsman and the contract between them would be recorded in an indenture. Upon completion the apprentice would become a Master craftsman and create their own business, a new contribution to economic growth.
  • 20 Feb 2016

    A Blueprint for Digital Transformation

    A BLUEPRINT FOR DIGITAL TRANSFORMATION. The ‘decision tree’ analysis will ensure that when a decision to digitalise is made, it is for the right reasons and will deliver the desired learning outcomes for the intended audiences. DSW concur with the CIPD that: “Through alignment of business need, learning objective, and user preference, choices can be made from a range of digital learning components, which can then be combined to create an effective digital learning solution.”
  • 04 Feb 2016

    Financial Advice Market Review: Is this RDR 2?

    SO WHAT DID WE CONCLUDE? We are convinced that financial advice is needed by the mass affluent, and even those with more simple financial needs, though more cost effective methods of distribution and advising must be designed and implemented. The FCA will publish their output from the review in the spring and will pave the way for the re-introduction of simplified advice methods, complemented by ‘roboadvice’, where technology will play an increasingly important role in the advice process.
  • 04 Feb 2016

    CPD: Planning for 2016

    OVER 200 EVENTS!! The 2016 calendar of CII exam revision and training courses in Doncaster has now been launched, with over 200 events in the schedule. In today’s financial services and insurance markets, professionalism is the key attribute. Consumer expectations have never been higher. The regulatory context is extensive and increasingly demanding. Competition is intense, with a multiplicity of distribution channels vying for the customer’s attention. The building blocks of professionalism for the financial services and insurance sectors are knowledge, competence and capability, underpinned by unswerving commitment to the highest standards of ethical practice. The CII’s tried and tested course programme has been created to accelerate and enhance personal development by delivering a flexible and engaging learning experience.
  • 04 Feb 2016

    Generational Differences on Your Team

    Today, businesses are faced with the prospect of a rapidly changing workforce. These conditions often put employees of varying ages together on teams. If leaders don’t have a flexible management style to work with this kind of diversity, team effectiveness and the organisation’s productivity can suffer. An adaptive style of leadership is needed. This example indicates how a leader can begin thinking that way.
  • 15 Dec 2015

    Defining Conduct Risk

    WHAT IS CONDUCT RISK? Since the FCA took over supervision of the consumer finance sector from the OFT and published its Risk Outlook in 2013 - Conduct Risk has rapidly become the new buzzword and a constant talking point for Regulators & industry leaders - with many businesses frantically trying to implement change programmes to make sure an appropriate culture is embedded in their businesses. The cause of much concern is - does anyone really understand it? In fact the FCA make a point of not defining it – the view seems to be that the firm itself should define the concept according to how it affects them. This leaves many firms with a dilemma of introducing appropriate principals of Conduct Risk across multi roles and business sectors.