Why alternative assessment 'not a soft touch'

The company behind a new alternative assessment route to QCF Level 4 has insisted it will not be a 'soft touch' compared to any traditional routes.

Calibrand will be administering the RDR-ready alternative assessment being offered by the New Model Business Academy (NMBA) from next month, pending a Financial Services Authority (FSA) consultation.

Speaking to IFAonline at the Institute of Financial Planning Conference in Newport, Calibrand consultant David Fields explained why the company had worked together with NMBA, the not-for-profit arm of SimplyBiz.

"[SimplyBiz chairman] Ken Davy's belief was that there are a significant number of advisers who will give up because they don't want to do exams so he was the driving force behind coming to us to look for something for the whole market," he said.

The qualification, expected to be priced at around £1000, will be based on client files and records, and advisers have been warned they will have to ensure these are comprehensive.

"It's not a soft touch," Fields added. "The FSA has got to be satisfied that it covers all the learning outcomes."

He added the provider was able to keep costs low for the programme as it did not require any assessor to visit firms, with the qualification based on online diagnostics and document submissions.

Lee Travis, head of NMBA, also said the organisation would be absorbing some of the costs involved with the alternative assessment in order to bring it to around the £1,000 mark.

The Chartered Insurance Institute's alternative assessment currently costs £1,950, while the scheme offered by Corporate Training Partnerships starts at £2,100.