The Chartered Insurance Institute (CII) has published a study looking at the way forward for a modern and progressive profession.
'Twenty-First Century Professionalism' forms part of the CII's long term drive to promote greater levels of professionalism and ethical behaviour in insurance and financial services.
The study analyses professionalism in the broader context of how all the professions have evolved, what professionalism means, its role in society, what the public expects from a professional and looks at the dual challenge facing professionalism.
CII chief executive, Dr Alexander Scott, says the banking crisis has starkly illustrated the public's concern over professional standards and endangers public trust and confidence.
"The CII has long advocated higher professional standards, pre-dating the Financial Services Authority's Retail Distribution Review, which applies directly only to the retail investment products sector," he says.
"I am confident that the CII can meet the challenge of supporting the development of a modern profession including the need to ensure we as a professional body support this.
"Indeed, the CII has the opportunity to build on our legacy and guide the whole sector to a new standard of excellence fit for the twenty-first century while supporting our Royal Charter's ambition to "secure and justify the confidence of the public".
Copies of the Paper are available on request or can be accessed here.IFAonline
‘Most significant’ upgrade since launch
Changes happening over coming months
Had accepted British Steel business
Aimed at HNW clients and family groups
Set for 1 April 2019