Ken Davy to chair alternative assessment RDR support group
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Simplybiz chairman Ken Davy (pictured) is to chair a group set up to take forward the Financial Services Authority’s alternative assessment proposals.
Source: Huddersfield Daily Examiner
The Alternative Assessment Project Group has been set up to examine the practical issues surrounding the FSA’s proposed alternative assessment route to the QCF level 4 qualification required by the RDR.
The group includes former CII president Peter Hales, Simplyiz New Model Business Academy managing director Steve Braidford, Technical Connection joint managing director Tony Wickenden, Warwick Butchart Associates chairman Len Warwick and Money Management editor Janet Walford.
The group says online learning, course work, past experience, CPD and real world technical competence are all ways in which level 4 equivalence could be demonstrated.
A group statement says: “In proposing the alternative assessment route to level 4 qualification the FSA has given an opportunity to both the profession and the awarding bodies to create a viable and appropriate alternative to examinations.
“The need now is for the sector to take this opportunity by providing creative, practical and robust methods through which advisers can demonstrate level 4 competence that are founded on proven ability.”
The group is now planning a series of meetings to discuss the delivery of practical alternative assessment solutions.
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Readers' comments (5)
Evan Owen | 16 Feb 2010 10:42 am
Why can't real IFAs do something instead?
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blair Cann | 16 Feb 2010 11:41 am
Personally I am more reassured than anything else over the personnel on this group. Ken Davy is a well known figure in our industry who can reasonably be expected to take IFA views into consideration; Peter Hales is I believe ex CGU.
The comments about displaying level 4 ability by, inter alia, CPD and past experience is extremely encouraging since the actual objection from many IFAs (and me) was the prospect of the FSA trying to stampede IFAs of a certain age into an exam room. Many IFAs unwilling to do this may well accept the necessity of CPD (which already exists in many activities) etc rather than leave the industry. I would welcome this as I am sure many of my peers would.
As ever in this debate I admit to no vested interest-I am already qualified well beyond level 4.
Does anyone know if this new grouping wants us to write to it with our views or, given that this debate has been going on for a while now, can they be taken as read?
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SIMON MANSELL | 16 Feb 2010 12:06 pm
These are all "good" men and women who know and understand the real world of the IFA. I'm heartened by this move and hope the group will also be granted the teeth to go with the appetite for change to the FSA level 4 proposals, which is implemented will be the end of the independent sector and with it mass market independent advice.
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Simon Shirm | 16 Feb 2010 1:00 pm
In 2008, the CII conducted a survey on professional development and the results then clearly signalled problems with CPD in our industry.
If there is one good thing that might come out of RDR, it is that this CPD mess will get sorted once and for all and that the professional bodies will be more effective in this area.
This is a good team and they certainly have my support.
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Chris | 16 Feb 2010 2:50 pm
For me, my career is too important to leave to a bunch of people I don't really know in the *hope* they may persuade the FSA to drop exams for level 4.
My rather more *in control* strategy is to complete the level 4 exams without whinging, moaning or groaning. That way, I know I'll be in business in 34 months. Those that depend on this group to save their livelihoods will just have their fingers crossed!!
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