NMBA to Offer Level 4 Qualification Assessment
Posted on:
13
Sep
2011
by Huw Thomas
The New Model Business Academy has revealed that it is to offer a work-based assessment route to Level 4 qualification.
The Diploma in Professional Financial Advice (Alternative Assessment Method) complies with the FSA’s learning requirements and allows candidates to demonstrate their knowledge through assessment of their work and professional experience.
The new qualification route is the result of The Alternative Assessment Project Group, which has been working with the FSA since early last year. The group was founded by Simplybiz chairman Ken Davy and featured industry figures such Peter Hales, formerly of Aviva and the CII, and former LIA president Len Warwick.
“Alternative assessments should not be viewed as an ‘easy option’ and the new NMBA work based assessment is well structured, thorough and meets all the qualification requirements,” Davy said. “Throughout education generally, it is increasingly recognised that not all learning is done in the same way. The traditional examination route is not the only measure of an individual’s level of knowledge and ability, and whilst two other alternative assessment routes are already available, they are overly complex and costly, being around £2000 to complete.
“I believe that the introduction of the NMBA’s alternative assessment option will mean that many experienced financial advisers who have been put off by examinations will now be able to achieve their Level 4 qualification rather than needlessly being forced out of the profession. This will benefit not only these advisers but also the enormous number of clients who would otherwise have lost access to their financial adviser.”
