Stay ahead of the regulator with CPD

27 Nov 2013

I am a great believer in lifelong learning and wholeheartedly feel we should never rest on our laurels and always strive to broaden our knowledge base.

This is particularly important in our professional lives not least because Financial Services is an ever-evolving industry and one which refreshes and changes continually. Updates, developments, technological advancements come along every day and when you add in regulatory, economic, political activity then it’s clear to see the need for advisers to keep on top of things.

This is why we have a regulator which is particularly keen on continuous professional development with individual advisers and firms required to prove their ongoing commitment and engagement with it.

Of course, it’s also true to say that the CPD requirements for financial advisers are much more clearly defined and set in regulatory stone than those required of mortgage advisers. But this does not mean CPD should be taken any less seriously.

I recently read a quote from an adviser which, when referring to obtaining higher qualifications than Level 3, suggested this was not necessary because “mortgage advice isn’t rocket science” which while technically is true, did make my heart sink somewhat.

Even if you are not keen to progress beyond Level 3 – and in due course the regulator may make your mind up for you – there should always be a commitment to updating and refreshing one’s industry knowledge. This thinking is part of the reason why the roadshows and workshops we hold come with CPD accreditation, which attendees can use towards proving their ongoing professional development.

And who is to say what might be coming over the horizon from a regulatory point of view. Those who are thoroughly engaged with CPD now are likely to be less affected if, or perhaps when, the FCA decides to make the same requirements of mortgage advisers that it does for others in financial services.

Bob Hunt

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