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Is this a charter for confusion over qualifications?

Am I the only financial planner who feels he has been led up the garden path by the Chartered Insurance Institute regarding chartered status?

On its website, the CII proudly proclaims that it is the gold standard that all aspire to. I started working towards chartered status before the RDR was an FSA dream and, like a lot of advisers, I have been diligently been working towards it while not worrying about the RDR, as surely having chartered status would mean I was compliant.

You can imagine my surprise when I used the gap-fill analysis tool on the CII website and find that I am so far away from being RDR-compliant that it would be laughable if it were not for the money and time I have spent on CII exams to date.

What is even more of a shock is that despite holding G60 and G10, two of the main areas where I am deemed to be lacking is personal tax and pension planning.

All my previous exams appear to be worthless and I may as well start again. Then again, I might just leave the industry and leave the public to the banks.

I would urge any members of the PFS/CII to question their local representatives as to why this ridiculous situation has arisen.

Sean Kelly,


Gregor Watt

A study in time

The aim when I set out on this experiment was to see if it was possible and practical to study for a full set of RDRcompliant exams while holding down a full-time job. If I did not realise the answer initially, I certainly do now. The answer is yes but it is difficult and as […]

Protection firms fear offset review

The impact of a combined Treasury and HMRC review of protection offset tax rules could see £350m of commission taken out of the market, according to Aviva. Richard Verdin, protection director at Aviva, says the current review is likely to scrap rules that allow providers with investment management businesses to offset the costs of writing […]


Payback time

At the beginning of September, the FSA reported a rise in the proportion of interest-only mortgages where the lender was not aware of a dedicated repayment vehicle but its annual product sales data, which covers April 2009 to March 2010, confirmed that the overall proportion of interest-only mortgages reduced by 8.7 per cent. Most of […]

Miton and Midas names stay under MAM umbrella

The Miton and Midas fund names will be retained under the umbrella of their rebranded parent company MAM Funds, formerly Midas Capital.The MAM umbrella unifies both multi-manager brands through a play on the first letter of their names and highlights its focus on UK fund management. It was felt that although the Midas and Miton […]


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