Just been dismissed - Advice please

[b19rak]

Guys, I'm a qualified Financial Advisor with 8 years experience working in bank assurance. I did have a superb record, always above annual target, good key performance indicators, customer contacts etc.

I have been dismissed today from the result of a mystery shop. I'll hold my hands up to say I didn't follow the company sales procedure but I must add that I did nothing untoward or misleading.

What can I do as alternative career whilst remaining in the industry? I have all my FPC, Cemap qualifications and I am 2/3rds through my RDR diploma. I have to rule out another employed bancassurance role as they will not consider me.
I am thinking more back office unregulated operations.

Can anyone help or advise me?

[singlecoil]

One would have to think that you did something pretty bad from their POV if they dismissed you, despite you getting good sales, and I should imagine other employers will think the same. Perhaps you need to think about setting up on your own?

[IrrElephant]

1 bad mystery shop and you got the chop? Must have been pretty frickin' bad.

[monkey gland]

Go on, what on earth did you do?

[b19rak]

I just screwed up big time by not following the official sales progress. I know it sounds and is bad but that's the situation I am in.

I was after some ideas as to what I can do outside of financial advice with my qualifications and experience.

[hornetrider]

A one off mystery shop and despite an exemplary record you're out? I have a feeling we're not getting the whole story here - were you dismissed for gross misconduct?

[tank slapper]

Had you been warned about it before? Had you been offered opportunities to improve your performance? It seems a little odd that you are instantly dismissed after 8 years of good service.

[williamp]

this is true. And did they follow correcty procedures- were you invited to a meeting first, etc etc

It might help you to clear your name

[GilbertGutbucket]

monkey gland said:

Go on, what on earth did you do?

Deliberately bowled no-balls???

[ali_kat]

What are the Ts&Cs of your contract re dismissal?

What term did they use?

Is this your 1st offence?

[SirBlade]

What did you do?

[bigbubba]

I would suggest asking for a really early appointment at the dole office. This way you will avoid all sorts of undesirables.

HTH

[b19rak]

I was dismissed for gross misconduct for not following the company's sales procedure. That's deemed uncompliant and as there were a few mandatories I missed in both the first and second appointment they all went against me and a fit and proper board deem me as not fit and proper anymore.

I hold my hands p and admit I have screwed up and expected a warning.

I'd rather not talk about it as I'm obviously really upset. It's a job I've been doing successfully for the last eight years without any complaints and minimal cancellations.

With RDR here soon this job is being squeezed with regulation and it just won't make the money it used to so I know in the back of my mind an exit strategy was needed. This has obviously been forced onto me today so the question is what can I do next?

I can get references from my line manager, and two of the banks respected managers to confirm my honesty, integrity etc.

[davepoth]

On the assumption you were making quite a bit more than pocket money, speak to an employment lawyer ASAP; You need to leave a job like that on a compromise agreement if possible.

[Engineer1]

Not kicking you while you are down but missing statutory required statements leaves your employer open to no end of problems and walks straight into the miss selling side, whether it was the perfect product or not.

[ali_kat]

You need a new career!

Wtf were you thinking missing out on governance? I'm not surprised they threw the gross misconduct book at you. They had to in order to protect themselves

So, nothing you can fight

What else can you do?

How old are you?

What reason would you give for a career change?

Sorry I'm being harsh, I am trying to help, just think youve been a bit of a wally to yourself, but I don't want to kick you when you are down. I made the jump 25 years ago when I decided I couldn't be arsed with FIMBRA as it was then, but I specialised in governance, still do, hence my move into that side of project management.

Edited by ali_kat on Wednesday 9th November 21:05

[Heathwood]

I feel for you mate. All sounds rather harsh and I bet you're feeling rather overwhelmed by it all.

Assuming the gross misconduct dismissal is not appealed and therefore stays on your record, I think you need to discount the usual high street / blue chip companies. However, you've clearly got a good deal of experience and are working towards your RDR. What you need is company with some understanding of sales pressures and the forethought that you'll now be pretty bloody eager to get back into work and prove yourself. What about contacting the many complaint handling firms jumping on the PPI / single premium bond mis-selling bandwagon?

[b19rak]

ali_kat said:

You need a new career!

Wtf were you thinking missing out on governance? I'm not surprised they threw the gross misconduct book at you. They had to in order to protect themselves

So, nothing you can fight

What else can you do?

How old are you?

What reason would you give for a career change?

Sorry I'm being harsh, I am trying to help, just think youve been a bit of a wally to yourself, but I don't want to kick you when you are down. I made the jump 25 years ago when I decided I couldn't be arsed with FIMBRA as it was then, but I specialised in governance, still do, hence my move into that side of project management.

Edited by ali_kat on Wednesday 9th November 21:05

I know i'm in a bad position. The regulated investment sales industry is not the same as it was a few years ago, its just getting worse with more compliance and regulations. Please believe me when i say im not a dodgy "you won't lose any money here' type of advisor. I've always been open and honest to my customers and never had complaints or comeback.

I just want help as i don't know what kind of roles i should be looking at now.

[b19rak]

Heathwood said:

I feel for you mate. All sounds rather harsh and I bet you're feeling rather overwhelmed by it all.

Assuming the gross misconduct dismissal is not appealed and therefore stays on your record, I think you need to discount the usual high street / blue chip companies. However, you've clearly got a good deal of experience and are working towards your RDR. What you need is company with some understanding of sales pressures and the forethought that you'll now be pretty bloody eager to get back into work and prove yourself. What about contacting the many complaint handling firms jumping on the PPI / single premium bond mis-selling bandwagon?

I am actually looking into this and have a cousin that is currently trying to get me in. Only problem is there are no roles in the Midlands.

[ali_kat]

b19rak said:

I know i'm in a bad position. The regulated investment sales industry is not the same as it was a few years ago, its just getting worse with more compliance and regulations. Please believe me when i say im not a dodgy "you won't lose any money here' type of advisor. I've always been open and honest to my customers and never had complaints or comeback.

I just want help as i don't know what kind of roles i should be looking at now.

Oh, I know, and I do believe you!

Get your cv up on the job sites

Give Capita a ring, they have an L&P division that are always looking!

Be prepared to go down a level or 2

What else are you capeable of? What else have you done? Are you 20s, 30s, 40s?