Careers at Grove Pension Solutions
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Job Title: Financial Adviser
Reports To: Head of Advice
Purpose of the Role: Act as a financial adviser and is authorised by Grove Pension Solutions under the Senior Managers and Certification Regime (SMCR).
Skills and Knowledge:
- Appropriate qualifications as required by to carry out regulated activities.
- Assessed as competent to transact business.
- To maintain competence to give investment advice by undertaking appropriate training. CPD and ongoing knowledge updates.
- Must maintain up to date knowledge on pension rules and legislation.
- Must maintain up to date knowledge on state benefits and the impact of capital and income.
- Understand the conduct of business process as set out in Grove’s Business Process.
- Must maintain competence for the controlled function and authorisation held.
You are authorised to conduct the following investment business:
- Pension transfers from all types of UK pension schemes.
- Personal and Stakeholder pensions
- Pension annuities.
- All ‘third way’ and new retirement vehicles established post April 2015 pensions freedom.
Treat Customers Fairly
Ensure that all customers are treated fairly.
Ensure that the Consumer Outcomes are met at all times. These are:
- Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.
- Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.
- Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.
- Where consumers receive advice, the advice is suitable and takes account of their circumstances.
- Consumers are provided with products that perform as firms have led them to expect and the associated service is both of an acceptable standard and as they have been led to expect.
- Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.
Conduct of Business
Establish contact with potential clients.
Explain, where appropriate/available, the difference between an ‘execution only’ service and ‘full advice’.
Obtain the appropriate Know Your Client information to enable a full analysis of the clients’ needs objectives and circumstances to be conducted.
Construct appropriate solutions using the information obtained and the principles of suitable advice.
Produce the appropriate recommendations to necessary standards and implement solutions agreed with clients.
Ensure the correctness of the application of the transfer value analysis system, where applicable, the merits of the proposed transaction and the suitability of the recommendation;
Provide the appropriate advice to the customer.
Design and construct the appropriate suitability report for the customer.
Ensure that the firm’s high standards of client care are met by demonstrating competence in all stages of the advisory process, operating at all times within the principles and rules of the FSA.
Compare the benefits likely (on reasonable assumptions) to be paid under a pension scheme with the benefits afforded by existing pension arrangements.
Ensure that that comparison includes enough information for the client to be able to make an informed decision;
Give the client details of the comparison, drawing the client’s attention to the factors that do and do not support the firm’s advice, no later than when the key features document is provided; and
Take reasonable steps to ensure that the client understands the comparison and its advice.
The comparison should:
- take into account all of the retail client’s relevant circumstances;
- have regard to the benefits and options available under the ceding scheme and the effect of replacing them with the benefits and options under the proposed scheme; and
- explain any assumptions on which it is based and the rates of return that would have to be achieved to replicate the benefits being given up.
- Consider the client’s attitude to risk in relation to the rate of investment growth that would have to be achieved to replicate the benefits being given up.
Ensure maintenance of competence by constantly reviewing own training needs and, in conjunction with your supervisor, addressing those needs in an appropriate and timely manner.
Eventual completion of the Certificate in Pension Transfer Advice qualification and subsequent internal sign off as a “Pension Transfer Specialist”.
Standards to keep:
You will need to meet the regulators’ and our standards in the following areas in order to maintain authorisation to act as a financial adviser for Grove:
1. Client interaction
To ensure all client interviews and telephone calls are conducted appropriately.
To ensure all administration, i.e. documents and research (fact-finds, reports, suitability and product confirmation letters), are completed in accordance with necessary standards.
3. Business quality
To ensure that our business quality standards are achieved (service standards).
4. Business production
Ensure that all work is completed in a timely manner and client is prioritised based on need.
5. Being a team player
To actively build constructive relationships with other members of staff (supervisor, manager, colleagues) and external colleagues.
6. Developing your own competence
Ensuring all knowledge is kept up-to-date by referencing pensions publications, attending seminars and undertaking exams.
Get in Touch
If you are interested in a particular position or would like more details, please email your CV to email@example.com or fill in the contact form below.
Grove Pension Solutions Ltd
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