View more on these topics

IFS switches on electronic exams to beat deadline

The Institute of Financial Services is warning that time is running out for mortgage advisers who have failed to obtain the Mortgage Code Compliance Board minimum standard qualification.

It says with only eight months to go before the regulatory cut-off date of December 31, up to 20,000 advisers have still failed to take the Certificate in Mortgage Advice and Practice and are running out of time to do traditional paper based-exams.

To help advisers, the IFS has made all its papers available electronically at 150 testing centres around the UK.

Anyone wanting to sit an exam can book five days in advance and will find out whether they have passed on leaving the centre.

It says the paper-based exam process takes each adviser between 16 and 30 weeks without allowing for resits, and timing is a problem because of having to register in advance for specific exam sittings.

IFS head of PR and Marketing Timothy Fox says: “Eight months is a tight timescale and, if the possibility that the student may not pass the paper and will have to resit is taken into account, this is a big issue.”

•As part of the countdown to the deadline, each month until September Money Marketing&#39s Mortgage Brief will track the progress of Gros-venor Financial Consultants partner Charles Helfferich who is preparing to sit the Cemap bridge paper. He realised the urgent need to tackle the exam when he discovered the failure rate of 51 per cent.


Intent on doing away with IFAs

Referring to the research documents in my response to CP121, I found the respondents represented around 0.003 per cent of the population and I wondered how such far-reaching conclusions could be arrived at from such a small sample. The biggest group was 1,905, the other five ranging from 20 to 60, the latter referred to […]

Skipton growth bond back on menu

Skipton Building Society has brought out another tranche of its five-year guaranteed growth bond which guarantees the return of investors&#39 original capital and 22 per cent growth.The bond is linked to the FTSE 100, S&P 500 and Eurostoxx 50 indices for five years and investors get the minimum growth of 122 per cent whatever happens […]

Berkeley Alexander simplifies cover for mortgage payments

Protection provider Berkeley Alexander is offering a new mortgage payment protection product which it claims has a range of incentives for brokers and policyholders such as free cover and concise documentation.It says the application process for FreeSafe is simple as no medical is required and cover is available irrespective of gender, occupation or employment status […]

The power and the story

Politicians and regulators dominate retail financial services, according to the UK&#39s first-ever Top 100 Power and Influence list.The list, compiled by Money Marketing&#39s panel of experts, reveals Chancellor Gordon Brown is the most powerful individual. FSA chief executive and chairman Howard Davies, Treas-ury long-term savings review head Ron Sandler and Dep-artment for Work and Pens-ions […]


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