Figures from the Chartered Institute of Securities and Investment reveal that the majority of advanced wealth management qualifications are taken outside London.
The accredited certification body, headquartered within the square mile of London, said it was seeing increased interest in financial specialist qualifications across the UK.
According to a CISI spokesperson, one of the reasons for the surge in demand for both CISI membership and financial services professional development in UK regional cities is the shift from face-to-face retail banking branch transactions to digital and online It is said that there is a possibility of a transition to a service.
This makes it easier for businesses outside of the traditional City financial district to focus on growth and development in the local area.
Statistics seen by FT Advisor show that as of March 2024, the CISI wealth management qualification was sat by 59% of candidates based outside London, with 67% of the most advanced wealth management exams based outside London. The test takers took the test.
CISI membership growth in the UK region compares to London’s membership growth rate of 0.82%. The group says its overall membership (outside London) has increased by 10%.
A spokesperson said: “This confirms the depth of wealth management knowledge and expertise in the UK region.”
As of March 2024, 62 per cent of CISI accredited members in the UK were based outside London. There are 23 UK regional committees across the UK run by member volunteers, including Leeds where CISI membership has increased by more than 20%.
“The sector’s regional growth is reflected in the recent announcement that the FCA will expand its Leeds office and create more jobs in the region. One person will be based in Leeds by 2027,” the spokesperson added.
Similarly, CISI said it was also growing in Scotland, which has the second-largest membership outside of London.
The growth in CISI membership there reflects the breadth of Scotland’s financial services sector, including operations, financial planning and wealth management, as revealed in recent FT Advisors research into Edinburgh’s future as a financial centre. I am doing it.
According to Skills Development Scotland, Scotland has a thriving fintech community, with over 200 fintech companies.
The rise of fintech reflects demand for CISI’s Ethics AI certification, which will be available from November 2023, with around 2,500 candidates taking the exam in the UK and 3,000 overseas, the spokesperson said. He said he took the exam.
CISI’s regional membership growth has been greatest in the Northeast, with an increase of 93 percent since 2019.
Other regions that saw increases of more than 20% were the East Midlands and Lincoln, Lancashire and Cumbria, the Cotswolds and Manchester.
More than 10 per cent were registered in Liverpool and Chester. North Wales, Yorkshire, West Country, Northern Ireland and East Anglia.
