All advisers now have the opportunity to progress from this status up to ‘associate’ level and, at the invitation of the Board, on to the top ‘partnershipp level.
To meet these levels advisers must meet a series of qualifications and longevity benchmarks, plus they have to ensure a consistent level on Jump Money’s ‘Business Quality Score’ which measures the adviser’s work in terms of quality of advice, retentions and number of policies written.
At the first ‘adviser’ level new employees must complete an initial induction programme over a five-day period and must demonstrate competency in the advice they provide to life assurance clients through observed role plays and a series of written exams to test their knowledge.
If they complete this stage, over the next six months they will be monitored and assessed to ensure their BQS is of a sufficiently high standard. Once signed off their probationary period they are encouraged to commence study for their Chartered Insurance Institute (CII) Certificate in Insurance qualification.
After 12 months service, the adviser can look to secure ‘associate’ status. To do this they must have passed their Certificate in Insurance, they must have a strong BQS performance, and they must also be actively working towards their Diploma in Insurance. Those who progress to associate level receive salary increases and increased holiday entitlement.
The final tier comes by invitation of the Board only and it is to progress to ‘partnership’ level. This requires a minimum of two years service and the individual must have achieved their Diploma in Insurance, coupled with an ongoing strong BQS performance. In achieving partnership status, individuals will qualify for increased salary, holiday and pension, plus will be offered greater flexibility in terms of working hours.
Jason Butler, CEO of Jump Money, commented: “We believe it is vitally important to have a strong structure in place in order to incentivise our advisers and to ensure we have quality individuals across the entire business. This new tiered progression allows our advisers to showcase their abilities and to be rewarded for achieving their continuous professional development responsibilities via external professional qualifications and meeting the high BQS standards we set.
“New advisers now have a clear career path progression however not all will remain as advisers for the rest of their time at Jump Money. We have a policy of promoting from within where appropriate and there are already advisers within the business who have gone on to become sales managers and team leaders of other departments.
“We already have a number of individuals working towards partnership status and we fully anticipate a significant number will achieve this over the next 12 months. As always, we are actively looking to recruit individuals who are looking for a career in the advice profession and we believe this new structure provides the ideal offering for those looking for a structured and rewarding opportunity.”
