The body charged by the Government with revamping intermediary training has unveiled its plans for G...
The body charged by the Government with revamping intermediary training has unveiled its plans for GCSE and A-level-style exams for advisers.
The Learning and Skills Council for Financial Services, an offshoot of the Department for Skills and Education, officially revealed its plans last week.
The new regime will replace all the existing examinations with new assessments to be established next year. Advisers will be able to choose exams that suit their primary business, such as mortgage or investments.
David Jackman, chief executive of the Skills Council and former head of industry training and business ethics at the FSA, said the new exams will be more difficult than the existing set and on-job-assessment will carry importance.
Jackman added that the two big changes in the system will be that investment and risk will be core modules for advisers, unless they are a specialist, such as a mortgage adviser, and that business ethics and regulation will be compulsory for all.
The Skills Council will be inviting all existing or potential examination bodies in the field of financial advice to a summit for a discussion on how the structure should take shape. This will involve the curriculum and the examination standard, using information from the FSA's Review.
Jackman first revealed the plans for the new exams regime in an interview with Investment Week in July this year.
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