Financial advisers set to get more knowledgeable

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Financial advisers set to get more knowledgeable

Fri 8th Jul 2005

An online self-testing service has been launched to let financial advisers test their product knowledge.

The free and confidential test, provided by the Chartered Insurance Institute (CII), lets advisers gauge their level of knowledge on investment and planning products.

It simply allows them to compare themselves with the CII system without needing to buy an exam or testing tool.

"Investment planning and products has been highlighted by the Sandler Report, the FSA and Financial Services Skills Council as one where many advisers' knowledge falls short of the required standard," explained the head of product marketing for the CII, Niall Boyd.

He added that the CII had therefore developed this facility "to help advisers discover for themselves what level their knowledge is at".

The system asks the user a set of 15 questions, picked at random from the CII question bank.

It then instantly gives their results along with a comprehensive explanation of all the answers and guidance on where further information can be found within the appropriate CII learning material.

Mr Boyd continued: "Should gaps in an adviser's knowledge be identified this new system will allow them to plot the most appropriate course of action to bolster their knowledge and boost their professional standing".