What is the background to this programme?
The Financial Advice market consists of c19000 SME businesses split approximately 75% financial advice, 25% mortgage advice. These SME businesses are supported by umbrella organisations known as networks who provide a range of support services to the individual businesses including technology, compliance, technical & consultancy support. Due to recent changes, more administrative support is required by firms in order to provide an efficient, high quality and compliant service to their clients. The Financial Administrator standard responds to this demand whilst also providing an ideal entry point for a career in the sector, with progression routes leading to a number of roles with full professional qualifications.
What qualification is achieved?
The apprentice has the opportunity to undertake a Chartered Insurance Institute (CII) unit, either the UK financial services, regulation & ethics (CF1) or Financial services, regulation and ethics (RO1).
What is covered?
- Financial Services market – Broad understanding of the structure of the Financial Services market, including the role of the financial adviser and product providers, customer outcomes, support services and platforms.
- Regulatory & compliance – Understands the Financial Services regulatory framework, the ethics and key principles of the advice process.
- Products – Understands the purpose and technical content of the financial services products and services provided.
- Systems & processes – Understands all systems & processes required to deliver the role outcomes & has awareness of how these fit within the wider company & industry.
