60-second interview with Fiona McFarlane

What does your firm do?

RBC Wealth Management serves affluent, high net-worth and ultra high net-worth clients globally with a full suite of banking, investment, trust and other wealth management solutions, from operational hubs in Canada, the US, UK, and Asia.

The business also provides asset management products and services directly and through RBC and third party distributors to institutional and individual clients, through its RBC Global Asset Management business (which includes BlueBay Asset Management). RBC Wealth Management has CAD1.05tr of assets under administration, almost CAD782bn of assets under management and more than 4,800 financial consultants, advisors, private bankers, and trust officers.

You were recently appointed chair of the STEP Jersey Branch. Do you have any specific plans for your term of office?

I am very excited to take on the role. My plan is to continue providing training to our members through our conference series and webinars and also develop STEP Jersey’s excellent relationship with Jersey Finance, Jersey Financial Services Commission and the Jersey government, representing our members though responses to consultations and being a voice on working groups.

RBC is a member of the STEP Employer Partnership Programme (EPP). What made you want to join?

RBC wished to achieve STEP Platinum Employer Partner status to demonstrate our commitment to unlocking our people’s potential. The partnership provides us with quality standards, and support, to further enhance our learning and development offering, whilst publicising our commitment to the continued professional development of our staff. We strongly advocate for investing in clear employee progression paths, and believe these contribute to continuity and stability for our clients.

This accreditation further strengthened our valued relationship with STEP. We currently have over 80 STEP qualified employees, sponsor the STEP Jersey Student Awards, sponsor and participate in the New York, Los Angeles and Orange County STEP Conferences, contribute articles to the STEP Journal, provide speakers for the STEP EPP Forum and have employees who are committee members of the STEP Jersey Branch.

What has STEP done for you, individually, or as a business?

STEP has improved my technical knowledge through STEP Jersey's programme of events and STEP publications, including the STEP Journal, the Trust Quarterly Review and the industry digests. Having the TEP accreditation has evidenced to RBC and my colleagues my development and focus on the private client industry and has helped me expand my network across the private client industry.

What is the most important thing STEP does, in your opinion?

Whilst STEP is widely known for providing the benchmark of commitment to high professional standards, since joining the committee I have learnt about the enormous contribution it makes to the development of public policy through its work on key stakeholder groups and committees including FATF and the OECD Business and Industry Advisory committee. I think this is incredibly important and is valued by our members.

What do you most like about your job, and feel is most worthwhile?

I love the variety of my job and the fact that I am constantly learning. Working for an organisation like mine means you can meet many different people across many jurisdictions doing very different roles, and get involved in such a diverse range of work.

What would you say to a young person thinking of a career in this industry?

Learn as much as you can and embark on a high standard professional qualification like STEP membership. This will provide you with the recognition for your efforts but it is also the gold standard that will make you highly sought after by prospective employers.

Which social media channels do you use and why?

I am a big fan of LinkedIn and its excellent articles and insights. I also like the fact that it means you never lose contact with people you have worked with over the years.

Fiona McFarlane TEP is Associate Director, RBC Wealth Management in the Legal and Technical Team in Jersey. She currently serves as chair of Chair STEP Jersey and is also Chair of the STEP Jersey Technical Committee.