Continuing Professional Development (CPD) is a requirement for every financial adviser.
Why? you ask…
According to the Financial Conduct Authority (FCA):
“Advisers will need to complete a minimum of 35 hours of continuing professional development (CPD) each year for retail investment activities, of which 21 hours should be structured. If you carry out other retail activities, such as mortgage advice or managing funds, you will need to carry out CPD for that activity as well.”
In another statement the FCA has suggested that advisers wishing to sell protection must now also complete 15 hours of focused continuing professional training or development (CPD) every year. The 15 focused hours are included in the 35 hours of CPD the FCA already requires financial advisers to undertake every year.
Continuing professional development is important because it ensures you continue to be competent in your profession. As a financial planner/adviser it is important to keep your knowledge and skills current so that you can deliver the high quality of service that safeguards the public and meets the expectations of customers and the requirements of your profession.
Every financial adviser should be completing their CPD on an annual basis. Areas you should consider:
- Changes to products
- Skills and expertise
- Changes to legislation
- Technical knowledge
- Addressing any learning gaps
CPD lets you focus on the specific skills and knowledge that you want to learn. It ensures this learning is carried out in a structured and relevant way, meaning you can continue to improve your skills and proficiency as your career progresses.
The FCA recommends at least 21 hours of the minimum yearly CPD quota must be ‘structured’ learning. This may include seminars, lectures, conferences, workshops or courses, and completing appropriate e-learning.
RM Advance supports your professional development no matter where you are on your journey. All our courses are CPD accredited and can be accessed 24-7 on any device. Click here to learn more about our services.
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