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?

[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.

[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.

[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.

[b19rak]

ali_kat said:

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?

I'll try Capita.

I'm 37. Have been an FA for 8 years and been successful. I have been thinking for a while that i will have to turn my hand to something else with RDR coming along and Banks being squeezed dry. Do i really want another FA/IFA job, hand on heart, not really. But i would like to stay in the industry doing something different. But what? That is the question.

I was working in IT related jobs for about 6 years prior to being an FA so i have sound IT skills. I have always been a good salesman. Even when i worked at Byte Computers (now PC world) as a technician i used to outsell the guys on the shop floor.

[b19rak]

ali_kat said:

b19rak said:

Even when i worked at Byte Computers (now PC world) as a technician i used to outsell the guys on the shop floor.

Which branch? I was SR's PA

b19rak said:

I'll try Capita.

I'm 37. Have been an FA for 8 years and been successful. I have been thinking for a while that i will have to turn my hand to something else with RDR coming along and Banks being squeezed dry. Do i really want another FA/IFA job, hand on heart, not really. But i would like to stay in the industry doing something different. But what? That is the question.

I was working in IT related jobs for about 6 years prior to being an FA so i have sound IT skills. I have always been a good salesman.

Good luck!

No way I must have met you. I worked at Byte Solihull and SR would often come in. I loved working there.

[b19rak]

I'm seriously down in the dumps, it's been my life for the last. 5 years and now it's gone.

I want to turn my hand to another type of specialist sales job, but what is the question.

[b19rak]

SirBlade said:

compromise agreement

I've got the right to appeal and I'm going to ask the question.