TOP OF THE CLASS AT FAIRBAIRN PRIVATE BANK Three lady private bankers at Fairbairn Private Bank have recently achieved outstanding results in 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, all of the bank’s private banking staff are in the process of achieving a minimum level 6 qualification. With anticipated regulatory changes in the Isle of Man, to possibly introduce this required level by January 2014, the bank is getting ahead of the game, and believes its clients can only benefit from this approach. The PCIAM examination is a demanding assessment, with a broad syllabus requiring detailed knowledge of investment principles and risk, taxation, financial planning, and regulation and ethics, tested by answering case studies, writing reports and explaining techniques and terms. Achieving this qualification demonstrates a clear ability to identify clients’ needs and provide solutions to those needs and the exam reflects situations and issues that practitioners will encounter in practice. Jon Evans, head of Isle of Man private banking at Fairbairn Private Bank, said: “I’d like to congratulate all three ladies on their exam success. This is yet another demonstration of the bank and its staff going above and beyond the call of duty. We place great emphasis on the ongoing development of our staff, so that we can continue to deliver a high standard of service to our clients.” *Office of Qualifications and Examinations Regulation. Ofqual is responsible for maintaining standards, improving confidence and examinations. It regulates general and vocational qualifications in England and vocational qualifications in Northern Ireland. Ends