The Society of Mortgage Professionals have expressed confidence
in the FCA's announcement of a review of examination standards
across a broad range of regulated activities - including mortgages
- to ensure they remain fit for purpose.
SMP head of professional development, Lee Travis, commended the
initiative, saying that it had been long-anticipated by the
society. "Indeed, we were ahead of the curve in supporting our
members when we introduced our Certificate in Advanced Mortgage
Advice in August 2014," he commented, "in response to adviser
demand for an option to improve their qualifications without
"The FCA are not looking to make changes to mortgage
qualification requirements and have not confirmed any intention to
move from level 3," he continued. "However, an increasing number of
self-motivated mortgage professionals are taking the initiative and
upgrading to a level 4 qualification of their own volition.
"Our level 4 certificate gives mortgage brokers the opportunity
to raise the bar voluntarily and study to a higher level -
improving their professional standing and giving consumers greater
confidence when making what, for the majority of them, will be the
biggest financial decision of their lives," he added.
In addition to mortgages, the FCA will examine benchmark
standards in a variety of financial advice sectors, including
securities and pensions transfer, with the Society of Mortgage
Professionals and parent body, the Chartered Insurance Institute
(CII), set to be represented at all the relevant meetings.
As part of their on-going campaign to offer the highest
standards of professional development and industry-relevant CPD,
the SMP recently confirmed a 10-strong schedule of mortgage &
protection roadshows for 2016. The first series of five, in Q1,
begins on 8 March in Newcastle.
For further information please contact:
Keith Richards, chief executive
Office: 0207 417 4474
Mobile: 07786 023033
Lee Travis, head of professional development
Office: 0207 417 4454
Mobile: 07584 390477
Notes to Editors:
Society of Mortgage Professionals
In 2005 the Chartered Insurance Institute created the Society of
Mortgage Professionals (SMP) to provide focus and momentum for the
professional development of all those working in the mortgage
market, across lending, administration, advice, broking, and
associated support functions. The SMP provides a broad portfolio of
services to help organisations nurture the development of their
staff within a culture of professional excellence.
The Personal Finance Society
The Personal Finance Society is the leading professional
organisation for financial advisers and those in related roles.
With more than 36,000 members, it promotes the highest standards of
professionalism by setting the standards for technical knowledge,
customer service and ethical practice across the entire financial
planning community. To achieve its aims, the society provides its
members with access to a programme of continuing professional
development, relevant qualifications, learning materials, support
services and other practical benefits.
Follow the PFS and CII on Twitter, where you will be kept up to
date with latest press releases, media appearances and expert
commentary: www.twitter.com/pfsconf www.twitter.com/CIIGroup.