The review will cover a broad range of regulated activities, including mortgages, to ensure they remain fit for purpose.
Lee Travis, SMP Head of Professional Development, said the society had been ‘ahead of the curve’ and introduced its own Certificate in Advanced Mortgage Advice in response to adviser demand to improve their qualifications.
"The FCA are not looking to make changes to mortgage qualification requirements and have not confirmed any intention to move from level 3," said Lee.
"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."
The FCA is set to examine benchmark standards in a variety of financial advice sectors, including securities and pensions transfers.
Leave a comment