View more on these topics

CII calls for framework to monitor generic advisers

The Chartered Insurance Institute is calling for the introduction of a framework to evaluate and monitor prospective generic advisers saying this will be essential for public protection if unregulated generic advice is launched.

As part of its response to the Treasury’s financial capability consultation, the CII has also offered to support the Thoresen Committee in its review of how such a service might work.

The CII says it has expressed an interest in supporting the design, build and operation of an online competency assessment tool to support generic advisers.

It says it has considerable experience in this area having managed competency frameworks for many leading financial services firms.

As well a telephone and web-based channels, the CII says face-to-face advice needs to be delivered on as broad a scale as possible.

CII director general Dr Alexander Scott says: “We fully support the vision of providing unregulated personalised generic financial advice to promote financial inclusion amongst those in the lower to mid income bracket, and believe it can be made to work. Whilst there are established sources of advice on specific matters such as debt and state benefits, an advice gap exists for middle income earners regarding broader financial matters.

“It is clear that replicating existing training and competence models is not the answer. These ideas offer a framework for developing innovative low-cost tools to deliver competent generic financial advice.”


One step beyond

Guy Anker looks at the controversy surrounding cheap introductory deals.

Merricks under attack after he blasts CI on TV

Protection providers have warned Financial Ombudsman Service chief ombudsman Walter Merricks that his outspoken public criticism of critical-illness policies could lead to an increase in lapse rates and leave people without cover.

Keep the Faif

New alternative funds could be a useful addition to retail portfolios.

Craig Inches – thoughts on how to preserve capital and generate income in an inflationary environment

In this short video, Craig Inches, head of short rates and cash at Royal London Asset Management, offers his thoughts on how to preserve capital and generate income in an inflationary environment. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well […]


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