Honister partner with Scottish Widows to fast track qualifications

Recently created and independently owned financial advisory group, Honister Capital,

has partnered with Scottish Widows to offer members an online Academy to fast track their professional qualifications status.

In a significant step to help drive up professionalism in the industry in response to the Retail Distribution Review the move follows confirmation from the Financial Services Authority that completing existing Level 4 Qualifications Credit Framework qualifications will be a 'no regrets' action for advisers.

Any shortfall between these qualifications, such as the Chartered Insurance Institutes' Diploma, and the new RDR requirements which will be announced in the first quarter of next year can be bridged through Continuing Professional Development (CPD).

This key partnership, where Honister Capital Group companies includes Burns Anderson, Sage Financial Services, Willis Owen and Honister Partnership, will give nearly 1500 IFAs free access to study planning tools, an online resource centre, workshops, subsidised CII course material and exam entry for CII's diploma.

Established in 2008 Scottish Widows Academy and Professional Advisory Study System (PASS) has been developed in partnership with the Chartered Insurance Institute to provide IFA's with a clear, structured and cohesive study framework with which to gain their Diploma.

With over 71,000 hits to Scottish Widows Academy to date and over 6000 registered participants it's a proven and valuable resource.

George Andrew, Head of Market Relations at Scottish Widows said: "More and more advisers are picking up the baton in anticipation of higher levels of qualifications for investment advisers being announced by FSA in quarter one 2010.

Although we don't know exactly what the qualifications requirements will be, we've a strong direction of travel on the core subjects.

We're delighted to partner with Honister and believe the academy will benefit their advisers, helping them prepare for 2012 by when the new qualifications will need to be completed.

Alan Easter, Strategy and Business Development Director with Honister Capital said: "We are delighted to announce this new venture with Scottish Widows.

There are many uncertain areas of the proposed regulatory changes, but two are clear.

Firstly that increased qualification requirements will be required for most Advisers, and secondly, it is far easier to manage the transition with the support of our manufacturing partners than without it.

This initiative supports the Advisers within the Group with a quality training solution which, in line with our recently announced Training team in support, will make the journey easier for our clients.

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