Dear Wizard Learner

1. Knowledge assessments
Wizard Learning believes that all financial planning professionals should have their knowledge assessed on a regular basis as well as developing their skills and knowledge further. With this in mind we have built this into our Technical Training and Competence (TT&C) System see here for details. This is also provided free for 12 months for those advisers who now decide to embark on the ISO 22222 and receive this email, see item 2 below for details.

So what do the FSA regard as good practice in achieving qualifications and making training plans? Their thoughts are summarised below and here:

* Having a training plan for the forthcoming year with time scheduled in advance for training events
* Encouraging advisers to obtain higher qualifications and improve their knowledge and skills
* Discussing complex cases in recorded training events
* Using a variety of training and assessment methods for developing competence, such as: sitting a relevant mock exam, product and market training and practical training such as mock sales interviews
* Ensuring appropriate examinations get taken and passed within a reasonable timescale
* Regularly evaluating the effectiveness of training.

We have prepared a sample training plan at the end of our previously issued CPD Guide see here for details.

2. ISO 22222 - Government funded certification scheme through Standards International
Wizard Learning is pleased to support Standards International in its role as the first dedicated certification body to be accredited to certify ISO 22222 by UKAS. We are also providing 12 months free access to Wizard Learning’s Technical Training and Competence (TT&C) system for all those financial planners that decide to work towards achieving the ISO 22222 award as a result of this mailer.

Standards International the leading ISO 22222 certification body, are delighted to confirm that financial planners wishing to work towards the ISO 22222 award through their certification scheme programme from now until 29 June 2009 may be eligible for government funding towards gaining the professional award.

The funding initiatives are available to enhance the skills of small and medium sized businesses within the England and Wales.

There is an eligibility criteria to meet but for any planners that meet this, the government schemes will provide financial support as they work towards achieving the ISO 22222 award.

This is great news as it means that they can achieve certification from as little as £437.50* instead of the usual fee of £1,375 and in the case of those working towards Chartered status the ISO 22222 award will provide an exemption from AF5 (Financial Planning Process).

* The funding is available on a one off basis to the firm.

Interested in joining the certification scheme?
The first step in the process is to complete an Eligibility Application Form which can be obtained from Standards International, enquiries@standardsinternational.co.uk or call 01462 790894. Remember to mention Wizard Learning in order to receive your 12 months free access to Wizard Learning’s Technical Training and Competence (TT&C) system if you decide to work towards achieving the ISO 22222.

Upon receipt, the application shall be reviewed to establish whether the adviser is eligible to join the certification scheme. If successful the adviser shall:

* Receive a copy of BS ISO 22222:2005, the standard for personal financial planners.
* Attend a 1 day ‘Training and Gap Analysis” workshop. The next Training and Gap Analysis events are being held on the following dates: 29th April – Leeds, 6th May – Norwich, 10th June – London, 15th July in Hertfordshire.
* Submit to a 1 day on-site assessment of the applicant’s documentation and the internal processes and procedures. Advisers are also required to demonstrate ethical competency at each of the six stages of the financial planning process.

There is an ongoing assessment fee of £56.25 per month, per adviser which includes an annual quality review audit, annual re certification and discount on further training provisions.

Advisers that have achieved the ISO 22222 have been rewarded with some of the following:

* Improved performance and compliance.
* More effective and user-friendly processes and documentation.
* Standardisation of good working practices.
* Improved communication (internally/externally).
* An increase in company and personal profile.
* Improved sales and marketing opportunities.
* A reduction in professional insurance costs, due to the reduction in risks.

Michelle Hoskin, Business Development Director of Standards International, said:

“It is great to see how proactive planners are being in making the most of the great funding opportunities that are available to them. We have been overwhelmed by interest in the ISO standard and as a result we have had to extend our workshop programme”

Kind regards

Mike

Wizard Learning
www.wizardlearning.com

Winner of the Best Online Educational Initiative at the November 2008 Online Finance Awards

Wizard Learning is run by Mike Goldsmith a Chartered Financial Planner in association with a team of highly qualified, industry experienced individuals in order to assist finance professionals pass industry exams and help meet their CPD requirements.

Contact us if you have any comments or questions.