60-second interview with Kerry Scholes

Monday, 27 July 2020
The STEP Isle of Man Branch is planning to run webinars for the rest of the year, so everyone can keep up with their CPD, says vice chair Kerry Scholes TEP.

What does your firm or employer do?

Sovereign Trust (Isle of Man) Limited is a corporate, trust and pension service provider forming part of The Sovereign Group, an international financial service provider.

What has STEP done for you, individually, or as an organisation?

STEP has provided a foundation for me to grow professionally.

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

STEP equips me with the tools and knowledge to undertake my role with my employer. The ever-changing legislative landscape for financial service providers globally increases daily. Regular communications from experts and specialists through STEP, be that lunchtime events, conferences, the website, journals and the News Digests enable firms such as mine to keep up to date with the changes and service our client base effectively.

What made you decide to volunteer at STEP?

It is important to support professional bodies such as STEP, to take pride in the qualifications earned through STEP and to support peers and future generations taking membership. There’s no better way to achieve that than by getting involved.

What would you say to other members considering volunteering?

It is extremely worthwhile, and as it is important to keep things fresh, new blood brings innovative ideas. The only way to effect change is to get involved and to support your professional body.

Your branch has run some online events recently. How did they go, and do you have any recommendations to share?

Our webinars have been very successful, especially considering they were a new venture for our branch. We are going to continue to provide webinars free of charge for the remainder of 2020 to our members and non-members to ensure we provide sufficient CPD to all. I’ve got one recommendation: make sure you turn your camera off at the right time!

Do you have any upcoming events to look out for?

The next STEP Isle of Man lunchtime webinar event on 6 Aug will be on ethics, and presented by Robin McGhee TEP.

Next, on 20 Aug, Edward Hayes will give us an update on the Trust Registration Service (TRS) rules.

During the autumn we plan to run a series of webinars on the theme of families and succession planning to replace our annual conference, that unfortunately had to be cancelled this year. We’ll release further details soon.

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

I enjoy a lot of variety in my role and find it a constant learning experience. I work with family offices with a particular focus on UK property, and recommend succession planning as the particularly worthwhile.

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

It can be a diverse and rewarding career path, with no day ever being the same! You meet clients from all walks of life, and face interesting challenges.

What do you feel are the main challenges facing practitioners at the moment, and how will you deal with them?

The constant change in legislation and directives across the globe present challenges, but professional bodies such as STEP mitigate the risk and exposure if you read the literature and communications published. The best way to deal with the challenges is to make sure you obtain and follow the right advice.

Which social media channels do you use and why?

Our branch administrator, Beverley Martin, posts on LinkedIn and Twitter (@STEPIsleofMan).

Kerry Scholes TEP is Director of Trusts and Pensions with Sovereign Trust (Isle of Man). Kerry is the vice chair of the STEP Isle of Man Branch and qualified as a Full Member in 2012 upon completion of the Diploma in International Trust Management.

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Kerry Scholes
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Kerry Scholes

Kerry Scholes TEP is Director of Trusts and Pensions with Sovereign Trust (Isle of Man). Kerry is the vice chair of the STEP Isle of Man Branch and qualified as a Full Member in 2012 upon completion of the Diploma in International Trust Management.