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The Financial Services Skills Council (FSSC) is set to become a charity and change its name to the Financial Skills Partnership (FSP).
The changes, pending confirmation from Companies House, are expected to take place early next year.
Chief executive Liz Field says becoming a charity is a "natural move" for the organisation as so much of its work is charitable in nature.
The FSSC has a major role in setting exam standards in financial services and outlined the learning outcomes for QCF Level 4 exams for the RDR last year.
"As we implement our new strategy, it is important that we have a name that clearly reflects the organisation's values and commitment to working collaboratively with employers and stakeholders," Field says.
The organisation has already announced changes to its corporate structure, incluidng setting up sector panels in financial planning, banks and building societies, investment management and pensions, accountancy and finance and the insurance sectors.
It hopes to announce further changes before the end of the year.
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About 2.66 million people are looking to increase the amount of money...
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so that means that...
all IFAs can now become charities too! Which if really cool, as the current protestation when a client asks if we can give them financial advice for 17p - "what am I, a bleeding charity?" - can now become "you know what, I am a bleeding charity". Therefore clients all over this wonderful country will receive much more free financial advice. Now, if McDonalds was to become a charity as well, it would be the perfect scenario.
Posted by: Soren Kierkegaard