This week I have spent three days working at ICF financial services office in Melton gaining valuable new information on the financial services industry that will help me massively in my future career endeavours and also gaining key work place skills that will help me later on in my working career.
On the Monday morning I was welcomed warmly by all the staff and introduced to the sort of tasks that I would be performing over the next three days. Then I began shadowing an administrator and observed the duties that an administrator carries out on a day to day basis such as checking client details and various other tasks. During this period of shadowing I learnt how to do many different administrative duties such as making copies and scanning documents that helped me assist others throughout the week. After that I worked with the social media team in order to produce a blog entry that would be relevant for the clients of ICF.I then found an article online which I edited and then posted onto the ICF blog. In the afternoon I worked with a mortgage advisor on the Trigold system which gave me a valuable insight into how mortgages work and the various different types of mortgages that are available such as fixed, variable and endowment. I was also shown the process that is undertaken in order to find the best mortgage possible that fits the client’s needs. I then filled in a fact find on an existing client which gave me an insight into the many different factors that are involved when someone is choosing a mortgage.
On Tuesday I was shown a pension forecast and looked at cashflow diagrams with a paraplanner. This also educated me on all of the types of pension that people’s money can be invested into and factors that can affect someone’s pension and also how market crashes can affect someone’s pension. Then with the paraplanner we created a hypothetical person and observed how factors such as their monthly income can affect what age they will have to work until if they wanted their pension to last. In the afternoon I inputted a fact find on a new client into a life insurance policy. I found this very interesting as it showed me the sheer number of factors that can contribute to how expensive someone’s life insurance premium will be.
On Wednesday I worked with a paraplanner and learnt about protection plans that are put in place on people’s mortgages. I also compared different plans for a specific client and decided which plan was best suited to the needs of the client. I was given an insight into just how important life cover and critical illness cover is for mortgages to ensure that people do not carry over debt for their loved ones to have to deal with once they are gone.
I have thoroughly enjoyed my time, over the last three days, that I have spent at ICF financial services and I feel like I have gained vital information that I would need to pursue a career in financial services. Finally, I would like to say a massive thank you to all the staff at ICF for being so kind and helpful towards me.