Advisers with an old Chartered Insurance Institute qualification may have to obtain a full RDR-approved diploma because the CII is preventing them from carrying out a gap analysis, according to IFA firm PageRussell.
Chartered financial planner Tim Page says the CII is refusing to make past syllabuses available online, which is stopping advisers from determining where the gaps in their learning are. In June, the FSA said advisers will be able to meet RDR requirements by plugging any gaps in their existing qualifications. Page says he has tried to access past syllabuses but the CII and PFS refused to supply the information, even for a fee.
The CII’s online tool to determine where gaps exist is not yet ready and when it is up and running it will only be available to CII and PFS members.
Page says: “Given the current practical barriers and probable costs of gap-filling, I think many advisers, through gritted teeth, will take the low-risk exam option. If nothing changes dramatically between now and January 2011, this is the option that PageRussell will take.”
A CII spokesman says past syllabuses from recent years are on the CII’s website now and older syllabuses will be available shortly. He says: “It is not that advisers cannot carry out gap-filling, they can do it manually, although I appreciate it is more work for non-members.”