The Chartered Insurance Institute has launched its alternative assessment to completing the diploma in regulated financial planning.
The alternative assessment has been subject to a six-month pilot with ongoing input from the FSA.
The CII says it is designed for experienced advisers who would prefer not to take exams in order to meet QCF level four requirements.
The alternative assessment breaks down into three stages.
Firstly, advisers considering the alternative assessment route can use a free diagnostic tool to test how suitable the alternative assessment will be for them.
If they decide to go ahead, advisers then have to submit a portfolio of evidence, including details of any relevant qualifications and continuing professional development.
Finally advisers go through an assessment day, with each candidate assessed by two trained CII assessors. The assessment day is based on four realistic case studies and a technical interview to establish the adviser has the required knowledge and skill levels.
The alternative assessment costs £1,950.
CII director of financial services markets Steve Jenkins (pictured) says: “It has taken six months of intensive work with input from both practitioners and the FSA to develop this alternative assessment route, but we are pleased to be able to provide advisers with a genuinely alternative option to exams.”