Strategy
Old Mutual Wealth Teams With CII to Launch "Investment Academy" For Advisors

A finance institute and a large wealth manager have teamed up to prepare UK advisors for important wealth management qualifications as demand continues to expand.
Old Mutual Wealth has joined forces with the Chartered Insurance Institute to launch an “investment academy” in the UK to prepare advisors for key qualifications as requirements on financial professionals continue to mount.
The academy prepares advisors studying for the AF4 Investment
Planning qualification - part of the Advanced Diploma in
Financial Planning that leads to Chartered status.
Old Mutual Wealth has launched the initiative in-line with an
industry-wide focus on accreditation, driven by a requirement for
at least half of a firm’s advisors to hold the diploma by 2020
for the firm itself to gain Chartered status. A number of other
asset managers including JP Morgan Asset Management, Aberdeen
Asset Management, M&G, Schroders, F&G and OMGI are also
anticipated to supplement the CII content through presentations
linked to exam units, a statement from the firm said.
The academy will launch next month to support advisors who are
scheduled to take their AF4 exam in October, with further support
initiatives to be rolled out more widely through the investment
academy later this year.
To some extent, the move can be seen as part of how the global wealth management industry - or at least certain parts of it - is trying to build talent as demands for skilled professionals in the sector continue. (For a round-up of the kind of courses and programmes that exist in this sector, see here.)
“Quality financial advice is key to the future of UK plc, the UK
retail financial sector and the financial livelihoods of UK
consumers. Our investment academy will support advisors that want
to continue to develop their expertise and reach the peak of
their profession by attaining Chartered status,” Scott Goodsir,
Old Mutual Wealth’s head of UK distribution, said.
“Consumers value Chartered status and see it as a mark of
professionalism and integrity. We believe that by supporting
advisors through these qualifications we are making an investment
which will benefit all those with a stake in the UK retail
financial services industry,” Goodsir added.
The Advanced Diploma in Financial Planning comprises six units
worth 30 credits each, with advisors expected to earn 120 credits
in order to gain CII Chartered status. Old Mutual Wealth will
offer twelve separate sessions lasting two-and-a-half hours
each, delivered by CII accredited training specialists. The
support sessions will comprise presentations, breakout
sessions and group discussions, with delegates working on past
exam questions to help prepare for the AF4 exam.
CII director of financial markets Steve Jenkins said: “Competence
is a key element of all professions. At a time when public
scrutiny of the sector has never been higher we are delighted to
be partnering with Old Mutual Wealth on an initiative that
supports advisors in this way,”
Advisors will not be charged for the support - although they or
their business will need to finance the cost of sitting the exam.