Sipp firm in talks with CII on financial advice degree

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A pensions firm is working with the Chartered Insurance Institute on developing a degree in financial advice.

Sipp and SSAS specialists Astute Pensions is in discussions with the CII and the University of Central Lancashire in Preston on launching a degree that would give graduates the Diploma in Regulated Financial Planning.

Speaking at last week’s Money Marketing’s Retirement Strategy Summit in Luton, Astute Pensions director Andy McLaughlin said hiring graduates with the qualification would save his firm time and money in training up new recruits.

He said: “I’m talking to the University of Central Lancashire who are looking at launching a financial services degree where students will come out diploma qualified, so that will save two years of training for us.”

He says graduates that have completed the six units of the diploma will “pretty much be guaranteed a job” in the industry.

As part of a panel on the future of advice, McLaughlin predicted there will be a “huge upskilling” of advisers.

He added: “Hopefully there will be a recognition of financial advice as a respected career, like solicitors and accountants.

“Perhaps universities will start to focus on delivering and making courses with those type of skill sets that we require.”