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Money Marketing launches RDR academy

Money Marketing is to launch a training academy to help our readers achieve the benchmark qualifications required by the retail distribution review.

The Money Marketing Academy, to be run in partnership with the Chartered Insurance Institute, is open to all advisers and offers a range of study packages, including printed material, online and face-to-face training.

The Academy will host dedicated training days and residential training and revision courses for each module of the CII’s diploma in financial planning, which will include on-site exam sittings.

Academy members will have access to free or heavily discounted supplementary training materials as well as a dedicated website with an interactive forum for mem- bers to ask questions and seek or offer support.

Under the RDR, all advisers must gain a QCF level four qualification by December 31, 2012 to continue advising.

Money Marketing will formally launch the Academy on March 22 at the CII Great Hall in Aldermanbury, London.

Advisers are invited to attend the event to see what the Academy has to offer and build training and examination schedules. Advisers will be able to sign up to as many or as few modules as they want.

CII director of financial services markets Steve Jenkins says: “We are delighted to be working with Money Marketing to help and support advisers in studying for their diploma exams.

“Thorough preparation is the key to success and I would encourage advisers to take advantage of the wide variety of training and learning materials that the programme will offer.”

Addidi Wealth Management director Anna Sofat says: “Any initiative that encour- ages the raising of standards is good for the industry. I think it is great that a trade paper is getting involved to raise the profile and standards of the sector.”

Advisers interested in joining the Academy should email their contact details to moneymarketingacademy@centaur.co.uk.

Any companies interested in becoming Academy sponsors should contact david.cowan@centaur.co.uk.

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Comments

There are 19 comments at the moment, we would love to hear your opinion too.

  1. Studying JO4 currently. All support welcomed.

  2. As with all other RDR articles, I bet most of the comments here will be negative.

    If the advisers who spend so much time and effort complaining about exams put the same time and effort into studying (and overcome their denial) they’d find the exams to be very easy.

    A regular comment is “I don’t have the time to study” – I’d have thought that rather than moaning on a daily basis and make pointless and negative comments on here, that time could be used more productively towards passing exams.

    I passed the AFPC and I’m working towards Advanced Diploma….

    I bet the negative comments in response to this run to double figures, which will prove my point…..

  3. As Andy is already qualified to level 4 I wonder if he has given any thought to how he is to obtain the “structured” CPD required to top up to the new syllabus. The FSA think that life companies and investment houses are going to be falling over themselves to provide the required CPD.

    I am concerned that I will have to rely on the goodwill of said life companies to obtain the necessary CPD. Who is to say that they will want to provide it if all their resources are aimed at the Diploma. The alternative is to complete e-learning with as yet unspecified providers at an unspecified cost.

  4. Andy, what a clever boy you are!

    Debate is always healthy and well done Money Marketing for your initiative.

    Not a negative word!!

  5. Well done Andy. On behalf of all IFA`s I would like to say congratulations. What a little star! Oh and by the way a big Cheerio to our Hector.

  6. Yet more rubbish!

    There are far better alernatives to the paracites from the CII.

    Restriction of trade, human rights etc etc I hope those who have dreant up the RDR have pockets full of monet as a European Law suit is on its way!!

  7. Too little, too late for Money Marketing.

    The idea of operating an Academy is a sound one. The idea of operating one which only commences on March 22nd of this year is not.

    If you’re only starting to engage with the issue of qualifications by then, then you’ve seriously underestimated the required investment of time – and left yourself with some serious pressure in respect of meeting the 2012 timeline.

    And, if you are still looking, why would you opt for an untested Academy – when there are established ones already in existence and achieving the results? There have been Academies in the market for years, with the graduates splashed all over Citywire – so why pick this one, when the track record isn’t there?

  8. Andy, so as not to prove you wrong, I’ll bet you are obne of these academic muppets who has never seen a client or given any financial planning in your life!

    A lighthouse in a desert springs to mind.

  9. Mr Anonymous (1:38 pm)- wrong on every count!! But that doesn’t surprise me…….

    Why do I get the feeling you won’t be in the industry for much longer???

  10. Andy, I also think this is a good idea. I’m noticing that many IFAs who were unsure about getting better qualified are now deciding to get on with it. Money Marketing has also clearly come on board.
    The result of all this is that the hard-line refusniks are looking increasingly isolated. And in 34 months, none of us will need to concern ourselves about them – they will be off into the sunset!

  11. Andy, We’ll see.

    I’ve been practising for 30 years and no drop dead date will see me off – exams or not. Bring on the courts.

  12. Nobby – please remind me of your bravado in 2013…

    All the advisers who refuse to accept reality remind me of King Canute!!

    Why wouldn’t an adviser want to achieve the RDR requirements?

    If they won’t or can’t pass the exams, I wish them good-luck in their career outside of Financial Services!

  13. Big respect to Andy – I agree with his comments.

    The so called “Advisers” who have their heads in the sand need to get a grip on reality and pass their exams – if they can’t they’ll be out of a job

  14. I’ve been in practice 37 years and have been lucky in that I’ve never had difficulty studying for and passing exams.

    Having said that, I am appalled at the lack of grandfathering for the elder statesmen of our industry, as has happened in other professions.

    I think this is actionable in the Courts and would be happy to join with any movement to press for a Judicial Review to secure what I consider is fair and just for those who find formal study difficult in the latter years of their professional life.

    And before some young spark takes down these remarks, I’ve seen some of the work done by those well qualified on paper and it isn’t up to scratch. This includes making recommendations which are unsafe and inappropriate and which an experienced practitioner wouldn’t consider.

  15. Hi Nobby

    Can I have your 10 best clients in 34 months? You won’t be needing them any more!

  16. Chris – do you think Mr Nobby would let me have the rest of them?

  17. Andy & co

    You are living on a different planet. Open your eyes and ears. When Nobby takes his merry band to the European Courts, they will win. It’s about time some common sense was bought into this RDR (post FSA).

    Good luck Nobby, Experience is worth far more than memory exams.

  18. Des, your ability to see into the future must have helped you achieve untold success and wealth. Unfortunately, on this occassion, your powers have you down.

    I’ve not laughed so much since reading similar comments about Stakeholder Pensions. These pages were full of denial then and despite being proved wrong, the same people are still saying that common sense and much needed changes are illegal. By saying it’s illegal doesn’t make it illegal.

    For your own sake, get your head out of the sand and face reality for a change

  19. it looks like this is just confined to CII – surely more inclusive if open to all advisers as seems unfair and biased to advisers who chose not to take CII and take other routes.

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