View more on these topics

CII sets out framework for qualifications

Industry sources believe the Chartered Insurance Institute could be positioning itself to step into the role of the Financial Services Skills Council if it fails to deliver.

The FSSC is being criticised for what many see as an inability to bring qualifications and exams to financial services.

Last week, the FSSC said there would be further delays to its exam review, saying it is now not scheduled to be completed until 2007.

One source points out that the CII&#39s launch of its own new qualifications framework came out two days after the skills council announcement.

But CII qualifications development manager Paul Turner, who was recently recruited from the FSSC, says the CII is not in competition. He says: “We are carrying on with our review of our own exam structure regardless of what the skills council is doing. Our intention is to work with the skills council in raising the standards of the industry.”

Institute of Financial Planning chief executive Nick Cann says: “The CII has absolutely set itself up to take the reins if the skills council drops away. The CII is very commercial and aggressive. It has unique relations that the skills council finds hard to make.&#39 One senior industry source says: “It is interesting the way the CII framework was rel-eased so quickly in comparison with the skills council. It is almost a competitive stance.

“There are a lot of dissatisfied stakeholders and the CII has impressed the industry, showing a much clearer understanding of the issues.”

Recommended

Public to become financial experts

Consumers will quickly turn into astute financial services “connoisseurs” by 2008, forecasts a report from Mori Market Dynamics. Managing director Jon Francis says more education from sources such as media coverage, the internet, Government and product providers will substantially increase consumer knowledge in the next four years. Francis believes this will change the landscape of […]

Commission edge

Let us set the record straight here. “The level of commission payable on financial service products far outweighs the work and service that brokers provide to their clients… this is absolutely true.” These are not my words but those of Hargreaves Lansdown chief executive Peter Hargreaves. “Around 90 per cent of IFAs have no right […]

The Co-operative Bank pulls out of self-cert

The Co-operative Bank has made the decision to pull out of the self-certification market. The bank says the decision has not been taken lightly, but will allow it to review business received so far and monitor its performance against other product offerings. It says the results of the review will determine whether or not it […]

£30,000 plus incentive offered to deferred pensioners

Work and Pensions Secretary Andrew Smith has announced plans to offer people who carry on working beyond retirement age an interest rate of at least 2 per cent above the case rate if they choose to defer state pension payments. The rate based on the retail prices index would allow people to receive a lump […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com