Working in sales and fancy a move into Financial Services?
Written by Dan Woods on 13/02/2017
It has been an extremely busy start of the year with many of our asset management and insurance clients in particular looking to recruit into the sales teams. There is a real appetite for office based Business Development Managers and personality/drive and track record of sales success are the two most important requirements. Industry background is not so important and often clients prefer individuals wanting to pursue a career in FS rather than already working within this space or driven graduates looking to embark on a sales career in the industry
So, what typically does a role like this involve? Simply, working in finance sales means that your job is to sell a financial services company’s products and services to private individuals directly or via an introducer like an IFA or corporate clients. It’s that simple.
So, what does the role involve?
From pensions and high interest savings accounts to bonds, stocks and shares, you are charged with the responsibility of maximising your clients’ return on their investments while making some money for your employer (and yourself!) in the process.
Depending on what area of sales you are involved, you will be asking people to part with their most treasured possession – their money – which could range from hundreds to millions of pounds.
Competition for the top jobs with the big brand names is fierce but once you get your foot in the door, the industry can provide you with a personally and financially rewarding career. You may be working for a financial services organisation such as an asset manager, bank or insurance company. The hours can be longer that the standard 9 to 5, but the return you gain more than compensates for this.
The financial services industry is, for want of a better word, huge. Despite the global recession that saw the collapse of a number of high street institutions such as Northern Rock and significant downsizing everywhere else, and the more recent concern and uncertainty post Brexit the financial sector continues to be one of the most in-demand and attractive career choices among newly-qualified graduates and career changers, alike. And the reason for this? For the majority, money! In addition, there appears to be a wave of confidence again across the City and many of our clients are recruiting heavily to add new blood to their already highly successful sales teams rather than replacing existing headcount.
Starting salaries and associated bonuses in this sector are among the highest in the UK with employers vying with each other to attract the best candidates in an ever-increasingly competitive industry.
So, it all sounds great but is this really the job and industry for you?
Whether you are fresh out of University or an experienced sales professional looking to move into Financial Services sales, these are highly-skilled roles and often pressurised and one that carries with it a great amount of responsibility. But equally, it is one of the most rewarding and fun sales careers there is in an industry that is constantly changing and one that will leave you behind if you don’t keep up with the pace of change.
Enthusiasm, persistence and a dogged determination to hit your targets and provide a great service for your clients will stand you in good stead for a career in financial sales. Maintaining and developing relationships are also important as is the ability to win the trust of your clients quickly.
Irrespective of whether you are selling financial services products or stationery, sales is by its very nature a highly-competitive business. But what binds each industry is the core skills that each salesperson must possess or at the very least have the potential to develop, these include:
- Enthusiasm for your sector and genuine interest in what you are selling
- Flexibility and adaptability
- Excellent communication skills both verbal and written
- Ability to translate complicated technical information into an easily understood format
- Sound planning and organisational skills
- Confident and persuasive
- Presentation skills
- Objection handling and problem solving
If you are already working in a sales role away from Financial Services but have the relevant drive and transferrable skills or if you are a graduate wanting to begin your career with an exciting Financial Services business in an exciting, fast paced and rewarding sales environment please do get in touch to tell us all about yourself and to find out about the many exciting roles we are working on with a variety of excellent, reputable and fun clients across the City.
Sales & Business Development recruitment
DD: 0203 597 7204