A guide to CPD

Bridging & Commercial has produced this guide regarding CPD requirements and where you can attain points.

CPD is the term used to describe the learning and training activities professionals engage in to develop and enhance professional abilities.

This involves training workshops, conferences and events, e-learning programs, best-practice techniques and ideas sharing.

The FCA requires advisers to complete a minimum of 35 hours of CPD each year for retail investment activities from an accredited body.

At least 21 hours should be structured CPD, ie courses, seminars, lectures, conferences, workshops, web-based seminars or e-learning.

Firms or individuals that carry out other retail activities – such as mortgage advice or managing funds – will also need to carry out CPD.

The FCA requires CPD to be measurable and capable of being independently verified by an accredited body.

Documentation required by the FCA should show:

1. Knowledge gaps and an adviser’s target outcome of the learning
2. Description of the activity to be undertaken or completed, including number of hours
3. Confirmation of how the activity has met the target learning outcome, and test result (if tested).

The FCA requires that firms take responsibility for its advisers’ CPD, while accredited bodies must carry out checks on at least 10% of advisers to ensure they are meeting the minimum requirements.

The National Association of Commercial Finance Brokers (NACFB) also requires its members to undergo a minimum of 35 hours of CPD a year.

The NACFB has its own MyNACFB programme to help its broker members and is affiliated to the London Institute of Banking and Finance, a CPD-accredited organisation.

The Personal Finance Society and the Society of Mortgage Professionals – which are faculties of the Chartered Insurance Institute – host a number of events that offer independent, structured CPD, which is required by its membership.

On Wednesday 8th November, the Finance Professional Show will host its annual conference at Olympia in London, which for the first time will offer CPD points.

These points can be earned for both visiting the show and attending the seminars being held.

Brokers can register for the event by visiting the FP Show website.

A number of lenders also provide CPD opportunities for brokers throughout the year, such as Shawbrook.