The retail distribution review will introduce new requirements for advisers to undertake a minimum of 35 hours continued professional development each year which must be capable of being independently verified.
Of these, 21 hours must be structured and designed to meet a particular learning outcome.
With this in mind, Money Marketing is launching an online CPD Centre, free to all our readers, to act as a supplier, tutor, recorder and verifier of all CPD activities.
The centre is powered by our technical division Taxbriefs, the leading independent supplier of technical learning content, and Redland Business Solutions.
The tool will provide advisers with a structured plan to help meet their annual CPD requirements and include free technical modules and regulatory updates from Taxbriefs, alongside space to input additional study or events attended.
The platform has been accredited by professional bodies the Chartered Insurance Institute, the Institute of Financial Planning and ifs School of Finance. These bodies have the responsibility of ensuring advisers are meeting the CPD levels needed for their Statement of Professional Standing. The CPD Centre enables advisers to easily deliver all records when applying to maintain an SPS on an annual basis, either in hard copy or digital format.
As the FSA points out, CPD is not about simply collecting attendance certificates. The regulator is expecting advisers to demonstrate they have learned and developed knowledge and skills as a result of their CPD activities.
All learning modules will have a Q&A formula to ensure you are obtaining and logging the minimum standards required. Regional events and seminars will also be available through the centre.
You can find out more about the CPD Centre through our step by step set-up guide and video or go to www.ifacpd.com for more details. Look out for your personal rapid registration email in the next few days or sign up manually through the website.
The retail distribution review has the potential to add a significant administrative burden to small firms already struggling to deal with a sea of red-tape and bureaucracy.
We hope the CPD Centre will act as a useful and efficient support to ensure you are properly documenting and completing your annual CPD requirements, allowing you to spend more valuable time where it matters- with your clients.