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LIBF launches level 3 certificate ‘to fill an advice gap’

8 September 2020

The London Institute of Banking & Finance has launched a new Level 3 Certificate in Protection to provide consumers with confidence in the sector.

Registration opened on 7 September, with the qualification due to start on 5 October.

Mark Heaton, managing director of professional education at The London Institute of Banking & Finance (pictured), said the qualification would fill an advice gap in the protection industry and would provide consumers with confidence that advisers have the right understanding and experience to select the appropriate protection.

Heaton said: “We regularly get feedback from the sector about the challenges and issues advisers face. Protection has always been a hot topic, but even more so in the current climate. There’s a real need to build consumer resilience but they often don’t understand the value of protection products and need confidence that advisers have the knowledge and skills to ensure they have the appropriate protection in place.

“This certificate will help advisers meet the demands of a growing market. As an entry level certificate, it can be the foundation of a professional career as a financial adviser and further develop the skills of mortgage advisers.”

The Certificate in Protection will cover the different financial protection needs in the event of a death, illness or disability as well as an introduction to the range of protection products available and their suitability. It will also explore the application and underwriting process, the range of protection provided by the state and insurance details for the home, landlords and self-builds.

LIBF said the Certificate will allow advisers to develop skills in critical thinking, analytical skills and communication and will be accredited into CeMAP.

In January, LIBF launched a Level 4 qualification in paraplanning which Heaton said was designed to recognise the “skills and knowledge being demanded of paraplanners, particularly post MIFID II.” The qualification, which was designed in close partnership with the industry, replaced the LIBF’s Level 3 Certificate in Paraplanning & Financial Administration.

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