The new managing director of the Financial Services Skills Council has hit back at critics, saying they have done a “bad fact-find” on what the body is trying to achieve through its review of exams.
The comments come in response to industry attacks alleging that the skills council's approach is dumbing down the industry by not having a central exam for advisory skills.
But managing director Teresa Sayers told Money Marketing that there is a lot of confusion among the industry over what the move to appropriate from approved exams will mean.
She is expecting the licence for the skills council to be approved this week, triggering a new status and a substantial injection of cash from the Government.
The council has transformed its board with new appointments, including Fidelity Investment Services managing director Richard Wastcoat, Sesame customer services director Michael Couzens and the FSA's David Kenmir.
They join a board of 10 which is chaired by Legal & General group chief executive David Prosser.
Sayers says: “This is a bad fact-find on the part of our critics to think that we are being prescriptive to awarding bodies.”
But Aegon head of industry development Peter Williams says: “The market requires a benchmark and the skills council is not providing one.”