www.sii.org.uk

Membership Survey Results 2007

Membership Committee

Richard BennettHead of Membership

Grade of Membership & Age

Base: All respondents (1198) (2006 Results) Q1.1/1.3

Membership Grades

Age*DK/No answer = 2% (n=21)

Total Sample: 1198 (1273) respondents

Actual Members 2008*FSI 23% (n=3,540)MSI 40% (n=6,169)ASI 34% (n=5,178)Aff 3% (n=408)

*Does not include Students

2% 8%

31%

29%

20%

10%

18-25 26-30 31-40 41-50 51-60 61+

34%

43%

21%2%

FSI

MSI

ASI

Affiliate

Distribution across regions

Base: All respondents (1198) Q1.4

• Overseas members replied 1% (n=23)

• All other regions, 3% or below

• The number of members who are unaware of the region of which they are a part of has dropped by 3% to just 7%

% of respondents

3%

4%

6%

8%

50%

0% 10% 20% 30% 40% 50% 60%

Birmingham

Guernsey

Jersey

Scotland

London

Membership of Professional Bodies

Base: All respondents (1198) Q1.5

None (32%)

Accountancy (18%)

Various Others(50%)

ACA 10% (n=118)ACCA 4% (n=50)CIMA 2% (n=25)

UKSIP 5% (n=61)ACIB 5% (n=60)CFA 2% (n=26)STEP 2% (n=24)

Which sector do you work in?

Base: All respondents (1198) Q1.5

35%

50%

15%

Wholesale Investment Industry Private Client Industry

Retail Investment Industry

Base: All respondents (1198) (2006 Results) Q1.7

Type of Firm members work in

Several further mentions at 2% and below

23%

18%

14%

9%

Private Client Investment Bank

Fund Managers Private Bank

Plus…

• Consultancy 7% (5%)

• Accountants 3% (4%)

• Life Company 3% (3%)

(21%)

(7%)

(19%)

(10%)

Job Description

Regulation & Compliance (13%) (16%)

Operations(13%) (15%)

FSI 10% (13%)MSI 17% (20%)ASI 11% (12%)AFF 10% (N/A)

FSI 5% (6%)MSI 15% (15%)ASI 21% (29%)AFF 25% (N/A)

Investment Mgt(11%) (12%)

FSI 17% (18%)MSI 8% (11%)ASI 9% (6%)AFF 5% (N/A)

Portfolio Mgt(11%) (11%)

FSI 16% (16%)MSI 9% (9%)ASI 5% (6%)AFF 5% (N/A)

Base: All respondents (1198) (2006 Results) Q1.8

Plus…

• Advisory/securities/derivatives 9% (10%)

• Corporate Finance 8% (8%)

• Fund management 7% (7%)

Does your firm pay for subs?

Base: All respondents (1198)/(860) (2006 Results) Q1.11a/b

73%

25%2%

Yes

No

N/S

YES

Firm pays all subscriptions direct to SII(74%) (72%)

I pay and firm repays all

subscriptions to me

(25%) (27%)

Firm Contributes(1%) (1%)

(75%)

(24%)

(1%)

If your firm didn’t pay – would you?

Base: All respondents (968) (2006 Results) Q1.12

71%

10%

19%

Yes

No

DK/NS

(72%)

(19%)

(9%)

Responses given for not paying:•Too expensive•Not enough benefits•Left industry

Perceptions of Membership

Q “How necessary to your profession do you consider your membership of the Securities & Investment Institute?”

Base: All respondents (1198) Q1.14

Very Beneficial Not all beneficial

6 15 4 3 2(22%) (25%) (26%) (12%) (10%) (5%)

Mean = 4.2

• No difference from 2006

• No significant differences between perceptions of FSI, MSI and ASI

Do you use your designatory letters?

Base: All respondents (1198) (2006 Results) Q1.8

60%

36%

4%

Yes

No

N/S

FSI: 30% (28%)MSI:37% (38%)ASI: 46% (50%)

FSI: 70% (70%)MSI: 63% (61%)ASI: 54% (49%)

(37%)

(2%)

(61%)

Importance of existing Membership Benefits

Regulatory Update

CPD Events

Designatory letters

S&I Review

PIFs

CPD scheme

Reg Refresher

Infolink

Online membership directory

Webcasts

Conference discounts

FSI Masterclasses

Annual Conference

More important

Less important

Top 3 for FSIsCPD eventsReg Update

Designatory letters

Top 3 for MSIsReg UpdateCPD events

Designatory letters

Top 3 for ASIsReg Update CPD eventsCPD scheme

Importance of new membership benefits

Integrity at work book

Membership cards

Wealth Management Forum

Podcasts

Lapel pin

Base: All participants/users of benefits (1198) Q2.3

• All grades chose ‘Integrity at work’ book as 1st choice

• ASIs preferred Book, Card & then Podcasts

• 80% of members thought that we now offer sufficient membership benefits

More important

Less important

Personal membership Benefits

44

56

Aware Unaware

Base: All respondents (1198) / all aware of benefit (530) Q2.3

11

89

Used Not used

•Mean rating of importance (1-6) was 3.2

Aware

%

%%

%

(61%)

(39%)

(85%)

(15%)

SII CPD SCHEME• 40% of Members surveyed this time claim to have registered with the SII CPD Scheme compared to 28% last year, now 85% are registered.

Base: All respondents (1198) Q5.1

1.7

1.9

1.4

2

2

2.2

2.1

2.3

2.4

2.4

0 0.5 1 1.5 2 2.5 3

Super user facility

Learning Style guides

Recog. Develop others

Reduce to MSI

Accred Firms' schemes

Accred non-Sii activities

recommend 35 hrs

Online record

Automatic logging

FREE

Mean scores

Rated 1 (not very beneficial) to 3 (Very beneficial)

How do members maintain their knowledge?

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

2006

2007

CPD Survey

50% 50%

0%

10%

20%

30%

40%

50%

yes no

Are you part of a formal CPD scheme within your firm?

82%

18%

0%

20%

40%

60%

80%

100%

Compulsory Optional

Is your scheme compulsory or voluntary?

Who monitors the CPD scheme/employees' CPD records?

35%

28%

13%

23%

1%

0%

5%

10%

15%

20%

25%

30%

35%

40%

ComplianceOfficer

HR Line Manager Self Other

CPD Survey (contd)

30%

20%

16%

29%

5%

0%

5%

10%

15%

20%

25%

30%

ComplianceManager

HR Line Manager Self Other

Who assesses your training and competence or CPD needs?What is the main basis of your scheme?

63%

21%

16%

0% 10% 20% 30% 40% 50% 60% 70%

Inputs

Outputs

Other

12%

21%

7%

50%

10%

0%

10%

20%

30%

40%

50%

Less than 15hours

16 - 25 hours 26 - 30 hours 31 - 35 hours other

If input, how many hours?

CPD Survey (contd)

57%

38%

5%

0%

10%

20%

30%

40%

50%

60%

Yes No Do not know

Do you think that current proficiency of individuals should be regularly tested?

73%

27%

0%

20%

40%

60%

80%

Yes No

Do you believe that CPD should be mandatory for everyone working in the Financial Services industry?

31% 31%

19%15%

4%

0%

5%

10%

15%

20%

25%

30%

35%

Disciplinaryaction

No action Promotionalprospectsaffected

Salary andbonus

affected

Other

What action is taken if you do not comply?

23%

32%

40%

4%1%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Yearly Every tw oyears

Threeyears plus

Five yearsplus

Other

If yes, how often should they be tested?

Summary of findings• Quantitative research used to suggest trends and areas that may

merit further investigation– Good response rate (8.5%) on average with PB surveys– Low representation from ASIs need to think of ways to encourage them

• Membership of other Professional Bodies very wide ranging– Noticeable concentration in Accountancy

• Half of members work in Retail Investment Industry– Notable number in compliance & operations functions

• CPD benefits & Reg Update ranked number one by members– Integrity book well received.

• High overall rankings for SII CPD Scheme– Registration increased to 40% before auto signing up of all members, now

need to increase usage.