BWD H1 2021 Sales & Distribution Confidence Index

BWD CONFIDENCE INDEX H1 2021 INTRODUCTION SALES & DISTRIBUTION At the start of this year, we introduced our Confidence Index, which is a visual aid to show whether hiring trends are up or down as compared to 2019 averages. We looked at data relating to new assignments, 1st interviews and job offers as these are the best indicators as to whether clients are hiring, and to overall levels of confidence in the sector. As we move into H2 2021, we thought that now would be a good time to reflect on how recruitment markets have fared in the first half of the year and to share some analysis with you from our specialist desks. As recruiters, we often take for granted the details that we pick during our day-to-day activities, so this is an opportunity to share some brief insights into what is happening in the FS market from a hiring perspective. Look out for our more detailed sector-specific analysis which we will share with you shortly. 200% 180% 160% 140% 120% 100% 80% JAN-21 FEB-21 MAR-21 APR-21 MAY-21 JUN-21 1ST INTERVIEWS OFFERS MADE NEW ASSIGNMENTS 2019 MONTHLY AVERAGE BWD | CONFIDENCE INDEX | JAN - JUNE 2021

SALES & DISTRIBUTION OVERVIEW After a traditionally quiet end to client recruitment activity in 2020, SALARIES: H1 2021 was a great first six months for the S&D division. The average BDM salaries for searches conducted in 2021 were: As we all know, recruitment activity is a great barometer of industry confidence and an insight into how well our clients are performing. SECTOR BASIC OTE There’s no surprise that with H1 seeing a surge in recruitment Discretionary Fund Manager £83,750 £142,500 activity, it’s heavily linked to some strong periods of growth for our Asset Manager £80,000 £120,000 clients. Platform £80,000 £100,000 Interestingly, 70% of the opportunities which were worked by the Retirement Solutions £72,500 £92,500 S&D team were created from scratch, with just 30% of the roles Traditional Providers £50,000 £95,000 replacing someone who had left their position. This showed considerable growth within the industry and a Average increase in salary for H1 for a placed candidate was 29.6% significant increase in confidence for the Heads of Distribution to It was pleasing to see that virtual interviews and assessments actually go out into the market to source BDMs to bolster their sales certainly don’t appear to be holding the recruitment processes up. channels. It’s the norm now and has become second nature for both Whereas 2020 saw the main recruitment activity being carried out by candidates and hiring clients alike. DFM providers, H1 saw a real mix of providers all recruiting such as: Finally, June was an exceptionally busy month for the S&D team for Retirement Solutions’ Providers, Discretionary Fund Managers, the number of opportunities sourced – 76% higher than the average Traditional Life and Pensions Providers, Platform Providers and for the previous five months! Asset Managers. Let’s hope that this trend continues into H2. If you have any questions, feel free to get in touch. We were also recruiting throughout the UK and not just GARETH DAVIES | DIRECTOR BWD Search & Selection concentrating in London. H1 roles were spread out throughout the 0113 274 3000 UK including Belfast, Swindon, Manchester, Bristol, Birmingham, 07811 110 844 | 0113 426 0774 Edinburgh and London. [email protected] [email protected] www.bwd-search.co.uk BWD | CONFIDENCE INDEX | JAN - JUNE 2021