The Chartered Insurance Institute plans to add mortgages to its list of expertise after revealing a £1m investment in the sector.
The CII plans to provide training for up to 6,500 mortgage advisers in both the direct and intermediary market in 2007 although it stre-sses that it is likely to target bigger organisations with a minimum of 50 advisers per company and which have the finances to pay the £250 fee, which is down from the usual £413.
That means smaller brokers which have been singled out by the FSA for failing to meet their regulatory duties are unlikely to be targeted by the CII although it stresses that those which are part of a network or club may have greater access.
The courses cover the CF1 UK financial services, regulation and ethics and the CF6 for mortgage advice.
The aim is for advisers to then build on their mortgage training if they want to move into other areas of financial services with further exams.
CII business development director for financial services Steve Jenkins says: “We are a big player in life and pensions but we want to build on that and move further into the mortgage sector. We want to make as big an impact in mortgages as we have done in life and pensions and take a more proactive role in driving up standards.”