View more on these topics

Cann slams ‘rubbish’ FS degrees that fail to meet career needs

Institute of Financial Planning chief executive Nick Cann has hit out at the structure of financial services degrees and says many do not offer students what they need to fulfil future financial planning roles.

At a heated PIMS 2009 debate, Cann also called for greater definition of the role of the financial planner.

He said: “How many people are looking at a career in financial planning and thinking, I know what that is? None.

“On the issue of universities and financial services degrees, they are rubbish. They do not correlate with what you want people to do in your businesses and there is no career structure.”

He said people with relevant degrees should not have to take other industry qualifications but this was opposed by Personal Finance Society chief executive Fay Goddard.

Cann said: “We need to talk to universities. They have no connect with our world at all and it is a dialogue about how do you make this happen. What does the job look like? What do you want people to do? How do you get consistency across different businesses that you can go out and market? If we get anywhere near that, it will be a huge step forward.”

Aifa director general Chris Cummings said: “If you are going to market the profession, what language would you use to attract people?

“We run the risk of repeating the FSA’s failures, of saying, of course people should be interested in financial services and we will educate them until they bloody well are.”

Mazars chief executive officer Paul Willans said: “One of the major problems with advisers over the last 20 years is that people may have innate professionalism but there is no understanding as to what professionalism means, what is conflict of interest and how you represent our clients.

“If we train people in ethics and a correct culture in a universal consistent manner, that is how we create a profession.”


The fast line

Last week, former BM Solutions managing director Michael Bolton claimed up to 80 per cent of HBOS loans were approved without full proof of income before the credit crunch.

Japanese business sentiment improves

Japanese business confidence improved in the second quarter according to an official survey of business sentiment. According to the Business Outlook Survey (BOS), published by the ministry of finance, the average sentiment level across all industries increased from minus 51.3 to minus 22.4 in the second quarter of this year.Among manufacturers, sentiment rose from minus […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm