Why professional development in financial services is vital


Ah, the worlds of regulatory learning and professional development—both vital, yet profoundly distinct, for individuals and businesses in financial services. Imagine a ship sailing through turbulent waters; regulatory learning is your compass and map, setting your course and ensuring you don’t veer off into dangerous territory. It’s about ticking those obligatory boxes, but crucially, it’s about meeting industry standards. In the UK, you’ve got the Chartered Insurance Institute (CII) and the Chartered Institute for Securities & Investment (CISI), bestowing a form of educational rigour that’s mandated and underpinned by years of tradition. This is non-negotiable knowledge, the nitty-gritty stuff you absolutely must know for sure!

But, oh, what a world awaits beyond mere regulatory learning! Professional development is the wind in your sails, the elemental force that propels you forward with renewed vigour. It’s not about the minimum requirements; it’s about striving for excellence, for mastery, for the pure joy of being the absolute best at what you do. Whether it’s a nuanced understanding of investment theory or the soft skills that turn a one-off client into a lifelong relationship, professional development stretches you beyond your boundaries. It fosters a culture of lifelong learning, inspiring your team to higher and higher peaks of achievement.

Why is all of this important? Because at the end of the day, financial services is about trust. Your clients need to see that indefinable ‘something’ in you—a cocktail of knowledge, empathy, and capability that assures them, “You are in safe hands.” Professional development provides the ingredients for that trust.

For businesses, professional development can feel like an elixir, transforming the merely competent into the truly extraordinary.

For businesses, professional development can feel like an elixir, transforming the merely competent into the truly extraordinary. It can often feel like a sea of certifications at times too, with everyone popping up with certificates in different things – where to start? What is meaningful?
In a world marked by volatility, International and British Standards serve as the bedrock of quality and consistency. British standards like BS 8577 and BS 8453, and International Standards like ISO 22222, ISO 45003 and ISO 22458, aren’t just pieces of paper; they’re powerful testaments to your commitment to excellence. These are the shields that protect both your firm and your clients, ensuring that you’re operating at peak levels of ethical behaviour, compliance, and operational efficiency. Each thread strengthens your relationships with clients, fortifies your reputation in the industry, and amplifies your efficacy. When you adopt these standards, you’re sending a resounding message to the world: you’re committed to being the best in class, the gold standard of financial planning and services. It’s akin to hoisting your flag on the pinnacle of excellence, and saying, “We’ve arrived, and we’re here to set the benchmark.”
Consultation is another sphere that’s often undervalued but offers immeasurable returns. To consult with experts means to engage in a dialogue with wisdom, to see your industry through a lens polished by years of experience. It’s not just a transfer of knowledge but a confluence of perspectives that leaves you invigorated, empowered, and ever so slightly transformed.
At Standards International, our Evolution of Excellence concept has seen many businesses go through year-on-year assessments, working with consultants and taking part in audits to ensure they are continuously evolving and growing for the better – since the landscape of financial services is forever changing, our firms are staying at the top of their game with a consistent approach.
By taking your business and the people in it on a professional development journey, it takes you into realms you never thought possible, urging you to explore, innovate, and ultimately, redefine the very boundaries of what’s possible in financial services and that for me it’s true excellence!
So with that in mind, here are our top tips when choosing the right personal development path

  1. Personal Alignment: What truly drives you? Ponder your core values and the aspects of financial services that genuinely excite you. Whether it’s the ever-changing landscape of FinTech, the intricacies of risk assessment, or the satisfaction of helping clients achieve financial freedom, your personal development should align with what truly moves your spirit.
  2. Industry Relevance: We’re in a time where regulations and trends are evolving at an almost breakneck speed. Aiming for British and International certifications like BS 8577 or ISO 22222 can fortify your credibility and keep you ahead of the curve. These certifications have been curated over the years by experts and are Internationally recognised. So it’s crucial to select programmes or courses that are recognised for their rigour and relevance. The last thing you want is to invest your time, money, and soul into something that becomes obsolete overnight.
  3. Skill Gaps: Be brutally honest with yourself. Where do you feel less confident? Is it in understanding complex compliance requirements, or could you better manage stress and work-life balance? Opt for courses or certifications that address these gaps head-on. Be it a compliance framework like BS 8453 or a well-being standard like ISO 45003, your choices should help you become not just a better professional but a more balanced human being.
  4. Networking Opportunities: Never underestimate the power of connections. Attend webinars, or training programmes that offer you the chance to meet industry leaders, mentors, or even your next business partner. You’re not just collecting certificates; you’re building relationships that can shape your destiny in incredible ways.
  5. Long-term Vision: Lastly, always keep one eye on the horizon. Where do you see yourself five or ten years down the line? Do you envision leading a team, running your own financial consultancy, or becoming a specialist in a particular area like financial abuse or vulnerability? Your personal development should be a stepping stone toward that bigger picture, the dream that keeps you awake at night with excitement and anticipation.

Remember, it’s your journey, and every decision you make echoes in the corridors of your future. Choose with both your head and your heart, and you won’t just find success—you’ll find fulfilment.

So, as you venture forth, set out to embrace both. Let regulatory learning be your steadfast foundation, and let professional development be the boundless sky above you. In the harmonious dance between the two, you’ll find not just success, but deep, soul-stirring fulfilment.


About Author

Avatar photo

We believe everyone has the power to realise their extraordinary potential. “Standards International is the powerhouse behind professionalism and operational excellence in financial services. We set the standards, we live the standards, we are the standards!” That’s us in a nutshell! We support the development of financial adviser business owners, their business partners, practice and business managers, and support teams in all areas of personal and business development. We have some super-exciting developments under way and it gives me such a buzz when I sit for a moment and realise what an impact all of this could have on our magical profession! Please be sure to keep in touch with us via social media, use our contact form or email us on enquiries@standardsinternational.co.uk to say “Hi”.

Leave A Reply