The next few years look like being exciting ones in the West Midlands, with major growth in the financial services sector.
Deutsche Bank has already moved into Birmingham and HSBC is on its way, showing that the region has the potential to become a centre of excellence. The merger of the CISI and IFP means we now have 744 members in the region, with a strong representation of most of the leading firms. Just as we are seeing mergers in our region between firms of investment managers and independent financial advisers, so we are seeing the merger of two highly regarded professional bodies.
On 14 January I had the privilege of attending a well-supported CPD session organised by former IFP (now CISI) members, featuring presentations on the use of exchange-traded funds in investment portfolios and the growing importance of pre-nuptial asset protection. Two very different subjects but each, in their own right, fascinating. Both also set down a very clear marker regarding the high quality financial planning CPD that will be required going forwards.
I also had the pleasure of addressing students at King Edward VI College in Stourbridge who are taking Institute exams at the start of possible careers in financial services. Their enthusiasm was quite infectious and it was reassuring to see how their own aspirations covered the whole of the industry, from being advisers, to fund managers to compliance officers. Given the number of jobs likely to move into the region, it is good to see that the CISI is playing its role in trying to ensure we have the necessary skilled and qualified workers in place. Indeed we are now being almost overwhelmed with requests for schools and colleges to establish exam programmes with them. This builds on the work we are already undertaking with the universities in our region and bodes well for the future.
Regionally, the next few months are busy ones for the Institute. On top of the normal CPD sessions, we are also looking at the implications of the referendum on 23 June, with a discussion reviewing the impact on the markets, and our clients, whichever way the result goes. In fact, 23 June is also the date for our
annual dinner at the Hyatt Hotel in Birmingham. It promises to be a great evening and hopefully will set the seal on the newly merged Institute.
So, exciting times in the West Midlands – it is going to be a busy year!