Q: How can I ensure that my Continuing Professional Development requirements are met?
A: An adviser’s ongoing competence should take into consideration technical knowledge and its application, as well as changes in the market, products, legislation and regulation. The measurement of CPD has returned to being in terms of hours spent, but also in terms of the learning achieved and must be relevant to their current role. So if you want, swot up on a new area perhaps with a view to moving into another regulated activity. You still need to chalk up the usual hours for your current role. You must complete a minimum of 35 hours of appropriate CPD in each 12 month period, of which at least 21 hours should be structured CPD. Examples of structured CPD include courses, seminars and workshops, including online events. Unstructured includes reading relevant material and participating in professional development coaching or mentoring sessions. To qualify, the structured CPD has to be for 30 minutes or more, including a record of it with evidence of learning activity completed, the target learning outcomes and how these have been met. If there is an assessment then the record should also include the results of the assessment. Unstructured CPD should also be measurable and consider the learning outcomes. Make CPD specific to you. Does it address identified gaps in your technical knowledge or skills? Have you identified these? If you define your learning objectives for the year ahead, you can easily record the results of each item of CPD undertaken as a learning outcome.
Phil Young is managing director of Threesixty
A: Each year, you need to complete at least 35 hours of continuous professional development, 21 of which must be structured. Your CPD must cover your technical knowledge and how you apply it, your skills and expertise, and any changes in the market, whether that is products or legislation and regulation. Your accredited body decides whether your CPD meets the standards. Your CPD must: be relevant to your role and any expected changes to that role, keep up your knowledge and qualifications, add to your professional skills and knowledge, address any gaps in your technical knowledge and advice skills, have clear objectives based on your learning needs and documented outcomes, be measurable, produce a certificate or result that an accredited body can check.
Sixty per cent of your CDP must be structured, so it must have pre-determined learning outcomes, be a form of learning that lasts for at least 30 minutes, be active, not be passive, have a test, exam or reflective statement at the end to show what you have learnt.
Andy Beswick is intermediary director of Aviva
Q: When can I put a client into non-advised business?
A: You can treat business as non-advised, when no personal recommendation is made, you only give information (it has got to be a sufficient amount) to a potential customer leaving them to decide how they wish to proceed. Sounds simple, but as non-advised business is still outside the scope of RDR, commission can be paid and so the regulator will keep a close eye out for any abuse here.
