CPD worth doing
The Retail Distribution Review made CPD a mandatory requirement for all retail investment advisers, requiring them to complete a minimum of 35 hours per year of continuing professional development (CPD).
The regulator can rest assured that this professional development is taking place, that each and every adviser learns something new every month and is a better adviser for it, because….. well….. it says so on their SPS, doesn’t it?
What was RDR really all about? It was about removing bias and comfort-selling, and about enhancing the integrity and improving the professionalism of the retail investment industry. It was about departing from a tick-box culture and building (or rather restoring) the industry’s reputation.
But what does CPD mean to you? Do you groan when you get that reminder, in whatever form it comes? Do you wiz through it, pick up a few anecdotes and begrudge every minute out of your day that you have to spend on completing the assessment?
Regular CPD articles and assessments are great for keeping you abreast of the latest regulatory developments, the newest tax laws, the rules coming out of Parliament and the EU. They are short, easy to read and serve their purpose. A busy adviser needs them, but they are what they are - short articles, news bulletins and announcements about ‘what’s going on’. But is that really enough? Is that enough to say you are continuing your professional development as an adviser? Is that not the epitome of a tick-box exercise?
What is CPD? It is your continued professional development…..not anyone else’s, yours. Your CPD should be tailored to your needs. It should address gaps in your knowledge and skills, and should ensure you are continually updating yourself in areas you deal in regularly…..and more importantly, those you don’t.
CPD is here to stay. You have to do it, so you might as well make it work for you.
The ability to plan, schedule and work your CPD programme around your needs is something Wizard Learning can help you to achieve. At a time of much change, the challenge for those involved in the industry now is to stay ahead of the game and be proactive in their personal development.
With Wizard Learning you have access to an array of online assessments, and you can create your own training needs analysis from the results breakdown at the end of every assessment, split by learning outcome. You can then use Wizard’s online courses to study the areas identified by the gaps.
You know you should know more about trusts, don’t you? Or long term care? Or the State benefit system since the introduction of Universal Credit? When was the last time you even uttered the words ‘structured product’? Wizard is an accredited CPD provider, but we offer SO MUCH MORE. Whether it be building on existing knowledge or filling the gaps, you need us!
RDR was meant to eliminate the one-trick ponies, the armchair-advisers whose idea of CPD was reading the money pages of their chosen tabloid. Post-RDR, there is no escaping the fact that once you become a financial adviser, you effectively go back to school - you become a full-time student.
Don’t fight it, embrace it. Be better than the rest with Wizard Learning.
Free CPD system trial
We recommend that you try the accredited CPD system by requesting a free trial and you will have a week to try it to see if it meets your requirements. If you have an existing record then login and click on the "My Account" link on the left hand menu and select the CPD system trial. If you have not previously registered then register here, login and then click on the "My Account" link and request the trial.