Gap fill: Are you on track?

As the CII is placed on the FSA’s provisional list of accredited bodies, Steve Aspinall, director of corporate development, takes advisers through a checklist of the key points they need to know…

Gap fill, in the run-up to the Retail Distribution Review (RDR) deadline at the end of 2012, requires advisers to consider two main issues:

• What qualifications and credit framework (QCF) Level 4 qualification, or equivalent, have you completed?
• How does that qualification match the 109 core learning outcomes highlighted by the FSA?

If an adviser holds the CII’s Diploma in Financial Planning or a more advanced CII qualification such as the AFPC or Associateship (Life and Pensions), the exam modules taken in achieving that qualification will have covered a number of the 109 core learning outcomes.

Any of the core learning outcomes that the exam modules taken don’t cover constitute an adviser’s qualification gap. This can easily be determined by members logging onto the CII gap fill tool at www.gapfill.cii.co.uk using their membership pin.

The FSA has clearly stated that there is no need for these existing advisers to fill these gaps by exams and that these gaps can be filled by structured CPD. On completion of a QCF Level 4 transitional qualification, and filling any remaining gaps, these advisers will be RDR qualified and compliant.

For gap fill completion, the CII uses the classic structured learning CPD cycle, as we have done for many years.

The CII approach to structured learning involves:

• Identifying a development need;
• Identifying development activity to meet that need;
• Completing the activity; and
• Reflecting on whether the activity has satisfied the need.

Reading instructional materials towards gap fill as provided by the CII as part of the gap fill tool solution, of course, counts if it’s done in a structured way and achieves a learning outcome. Professional members – as part of their commitment to the CII’s Code of Ethics – can self-certify their work.

Gap fill tool

To make the process easier, the CII’s gap fill tool, provided free of charge to members, has mapped existing and historic qualifications against the 109 core learning outcomes, identified where gaps exist and provided an outline of how these gaps can be filled.

Advisers should look at the identified gaps and consider whether they have completed historic CPD that fills that gap. If an adviser believes they can fill any of the gaps from historic CPD, the adviser should tick the relevant box and upload onto the gap fill tool evidence of completing this CPD. This evidence might include details of a relevant course, or event, perhaps with a certificate of attendance.

For the remaining gaps, the tool provides suggestions and materials as to how the gaps can be met.