Adviser examination rivals the Chartered Insurance Institute and the Securities & Investment Institute have joined forces to create a uniform financial services qualification.
Both the CII and the SII offer qualifications on the Financial Services Skills Council’s list of appropriate examinations for people wishing to become financial advisers.
As a result of the move, the SII is set to withdraw its Certificate in Investment and Financial Advice and will instead refer its students to the CII's Certificate in Financial Planning.
At the same time, the CII is to now offer its members the SII's Fund Management examination as part of the CII Diploma in Financial Planning framework.
The examination covers the activities, knowledge and techniques required to undertake the management of funds for institutional clients.
CII director general Dr Alexander Scott says: “This is a significant development which I am sure will be welcomed by the industry.
“We are removing duplication and focusing on our areas of expertise which will aid clarity for the consumer and, by working together, will be better able to deliver industry led solutions.
“This is particularly important to our work to provide guidance and practice standards to support the FSA's move towards principles-based regulation.”
Simon Culhane, SII chief executive said: “SII will continue to focus on the wholesale capital market for both front office and administrative roles, whilst CII's focus will be on the retail sector.”
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 Scott Sinclair on 020 7034 2636 or email [email protected]IFAonline
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