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Brokers are facing last-ditch exam dash

Many IFAs face a last-minute dash to get the minimum qualifications by the end of the year to continue doing mortgage business, according to IFA Promotion.

IFAP reveals that only around 950 of its 10,300 listed IFAs have passed the Maq or Cemap bridge paper with less than 100 days until the Mortgage Code Compliance Board&#39s December 31 deadline.

It says between 40 to 50 per cent of its database list mortgage advice as an area of expertise so they must think about qualifying quickly if they still want to offer this service.

IFAP&#39s figures, which it says advisers update regularly by phone, email or in response to its bi-monthly mailings, show that 657 of those qualified have Maq and 305 have Cemap.

New figures from the Institute of Financial Services reflect that large numbers of advisers are still to pass its Cemap exam, with only 26,498, or 42 per cent, of the 63,561 candidates registered so far completing the paper.

IFAP chief executive David Elms says: “It all depends on how important mortgage business is to individual IFAs&#39 practices. If they rate mortgage business as important, given the deadline, they should start thinking about qualifying pretty quickly if they want to keep servicing their existing client base.”

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Neptune video: Indian valuations and Modi’s pro-investment agenda

Kunal Desai, Head of Indian Equities, discusses his expectations for the Indian market and highlights the key indicators that he is watching for 2015.

In the video, Kunal addresses:

• Indian equity valuations and the importance of stock selection in gaining exposure to the earnings upgrade cycle

• The BJP’s strengthening ambition in its pro-reform, pro-investment agenda

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