FSSC outlines QCF Level 4 standards on specialist advice

level 4.

I hope once we have completed level 4 that they give time for the dust to settle before they come up with another idea to increase income for the training companies and threaten us with being thrown out of the industry. Don,t hold your breath.

Posted by: terry

QCF Level 4

I know that passing exams doesn't, on its own, prove competency. It certainly doesn't prove honesty or integrity. But, I am astonished that, according to a lot of what I read, there are so many advisers who cannot pass simple exams about their supposed professional expertise. If they are such dunces, should they be giving advice on important matters ? You wouldn't knowingly go to a doctor, a solicitor, or an accountant who had no qualifications. Politicians may be able to get away with having no qualifications to do their job (and many in the FSA are similarly unqualified), but we are trying to get recognised as professionals. What hope is there for us when the ex-window cleaner with 'O' level geography and FPC, combined with 20 years experience selling endowment policies and with-profit bonds, is still allowed to trade?

Posted by: Bill Wells

level 4

I refer to the comments of one of your subscribers. I do not think anybody does not wish to increase their standards. When comparing the situation with Accountants/Doctors/Solicitor what is upsetting most people is that when you become a member of those groups you are"qualified" and do not get threatened with taking their livelehood away. What they have to do if they wish to specialise is take an appropriate qualification in that area and therefore it is their choice no one else. Providing they complete their annual CPD they remain "qualified" If they fail their CPD, they remain "qualified" but cannot deal with certain areas, but can deal with the areas they originally qualified for.

Posted by: terry

To Bill Wells

Please see the below Diploma pass rates for 2009 and 2009. Note they are pass RATES, not pass marks and than think about the implications. Is the testing system a problem or is it that everyone is thick as you imply? Until the CII return marked exam papers, we will never really know why the failure rate is so high will we...... http://www.cii.co.uk/pages/about/passrates.aspx iploma in Financial Planning Unit Annual Pass Rate J01 54.03% 53.50% J02 51.02% 43.44% J03 26.25% 40.17% J04 44.79% 46.21% J05 54.44% 54.89% J06 40.49% 37.24% J07 43.08% 42.61% J08 53.44% NA

Posted by: Phil Castle

level 4 exams

Advisers should have to complete ongoing yearly tests to keep updated with any changes in the industry. We are asked to sit exams in English Law (j02 exam) which will not help me, my clients or the industry as I live in Scotland. It is totally unfair for us to be asked to sit exams just for the sake of it. I dont mind exams if they will help me or the industry as a whole. Why doesn't the FSA change the goalposts for any new advisers coming into the industry i.e. diploma status. The nurses starting qualifications have been raised to this but it is only for new nurses, not existing. I think it is a disgrace that all of a sudden thousands of IFA's with years of experience are suddenly not qualified enough to give advice. No other industry would allow this to happen. Totally disgusted.

Posted by: Julie McIntosh