I worked with Neil on the development of the Oil & Gas Industry specific Corporate Award Training Programme for the Chartered Institute of Purchasing & Supply (CIPS). Neil was the CIPS Senior Consultant, Customer Development and he did exactly what it said on the tin.
The initiative was dragging its heels a bit until Neil came on board. His limitless tenacity, energy and attention to detail meant that the initiative regained its focus and the programme was launched in November 2010 with more programmes in the pipeline with commitment from a broad range of companies.
In simple terms, if Neil Young makes you a commitment to do something, then it is Neil Young who delivers. In any development programme, there are times when some of the people involved become tired or disengaged for a number of reasons. Neil's character and drive kept the momentum and it is no understatement when I say that if Neil had not come on board when he did we may well, as of today, still been at the 'thinking about it stage'. I don't think 'give up' has a place in the Neil Young vocabulary 
Steve Johnson MSc, FCIPS, FCILT Head of Global Procurement & Supply Chain Management, Prosafe Offshore Ltd
The Retail Distribution Review (RDR)
The 6 FSA outcomes that the Retail Distribution Review should meet:
- An industry that engages with consumers in a way that delivers more clarity for them on products and services.
- A market which allows more consumers to have their needs and wants addressed.
- Standards of professionalism that inspire consumer confidence and build trust
- Remuneration arrangements that allow competitive forces to work in favour of consumers.
- An industry where firms are sufficiently viable to deliver on their longer term commitments and where they treat their customers fairly.
- A regulatory framework that can support delivery of all of these aspirations and which does not inhibit future innovation where this benefits consumers.
The Retail Distribution Review (RDR) and the introduction of new minimum qualification requirements
The RDR has proposed the introduction of new minimum qualification requirements for financial advisers to improve their professionalism, and build on their existing level3 qualifications evidencing a higher standard of skills, knowledge and behaviours through the completion of QCF (qualifications and Credit Framework) accredited level4 qualifications.
So in order to advise customers on investments you must obtain a level4 qualification or no longer be able to practise
Please visit our RDR Training Section for related RDR information.
So you do not have a lot of time…
The FSA issued a table showing the confirmed QCF level4 legacy and current qualifications in consultation paper CP09/31. If you hold either a legacy QCF level4 qualification eg the CII’s AFPC, or a current QCF level4 qualification eg the ifs DipFA you will only need to “top-up” via CPD to be RDR compliant post the end of 2012.
Existing advisers are those individuals who are deemed competent at or before the 30th June 2009.
The New Entrant definition is for investment advisers who do not fall under the definition of existing advisers. They still have to attain a level4 qualification, but are not subject to the 2012 deadline.
The mandatory subjects for all QCA level4 qualifications are:
- Financial Services
- Regulation & Ethics
- Personal Taxation and Investment and Risk
A planning module appropriate to the industry that an adviser works in must also be taken.
There are a number of routes to achieving this qualification. These include Institute of Financial Services (ifs) route in the form of The Diploma for Financial Advisers (DipFA), The Chartered Insurance Institute route in the form of The Diploma in Regulated Financial Planning and there are a number of other qualification routes as well.
