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IFS offers level 4 exam for mortgages

The Institute of Financial Services is offering a new level four qualification for mortgage brokers.

The diploma in mortgage advice and practice was piloted last year and builds on the content tested through the ifs’ flagship level three Cemap exam.

The diploma will test the ability to evaluate a client’s circumstances and justify why a product recommendation is suitable.

Chief executive Anne Kiem says the qualification was developed after industry feedback.

She says: “The mortgage market review does not say advisers have to be level-four-qualified but some people are saying they want to set themselves apart.”

The Dipmap costs £520, reduced to £375 for advisers who have already taken the diploma for financial advisers.

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. …….some people are saying they want to set themselves apart.”

    What percentage of advisers want to “set themselves apart”?

    This is just a money making excercise for the IFS.

  2. Totally agree that this is without doubt another money making exercise for the IFS.

    I am sure that the majority of mortgage advisers already apply due diligence to why a product recommendation is suitable. This should and is covered in a client suitability letter.

    An in-depth “FACT FIND”, “KNOW YOUR CLIENT – immediate and long term plans” plus “SUITABILITY LETTER”, surely indicates the reason why a product is selected.

    I am baffled as to why this qualification has been introduced – industry feed back!!!! – “come on ………. let’s be realistic”.

  3. Come on guys this is about cpd and demonstrating an ongoing desire to learn and improve ones professionalism. Anything which helps improve the sectors image should be appluaded!

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