The Sector Skills Alliance for Scotland has approved an interim modern apprenticeship in providing financial services, developed by Financial Services Skills Council.
Modern apprenticeships are available across a wide range of industries and offer people over 16 paid employment combined with the opportunity to train for jobs at craft, technician and management level.
The Skills Alliance has made changes to the previous financial services apprenticeship framework by removing two out-of-date Scottish vocation qualifications – providing financial services and providing financial advice.
It has also added a national vocational qualification in providing financial advice, which is based on appropriate exam standards and national occupational standards.
The changes to the framework came about following a request from Standard Life.
Keith Hunt, qualifications and competence manager at Standard Life, says: “This initiative has two key benefits. It will firstly allow us to develop the professional competence of a substantial number of our staff. And secondly, it is more evidence of the improvement of professional standards more generally with our industry.”
In spring 2007 the FSSC will consult with employers on developing a new apprenticeship framework for financial services in Scotland.
If you have any comments you would like to add to this story or would like to speak to its author about a similar subject, telephone Emily Perryman on 020 7968 4554 or email [email protected].IFAonline
Three examples of compensation rule issues
Buying in baskets
Scam victims lost average £91,000
Stepped down following MBO
Helped by rising oil price