OpinionOct 1 2015

’Old school’ dismissal of exams has held us back

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In response to Ken Davy’s piece on adviser qualifications (FA, 17 September), I am absolutely bewildered by the ‘old school’ attitude that passing exams does not produce better outcomes for clients.

This sort of attitude has held back the advisory community for decades as we look to be held in the same esteem as solicitors and accountants. We are currently being rocked by ballooning FSCS fees and will no doubt be receiving interim levies throughout this year as Sipp, Ucis, Arch and Keydata claims start to bite.

Does passing exams and achieving chartered or certified status guarantee a better outcome for a client? Absolutely not. There is nothing that can provide that guarantee. But achieving chartered, or certified status, is an investment in the best piece of kit that an adviser can put in front of a client, the piece of kit that sits between an adviser’s ears. Let’s be honest, who would not always want to deal with a business that invested in the best piece of kit that it possibly can?

Mr. Davy makes a case for soft skills being just as important as passing exams. Imagine if you are ill and have a choice about who you can see for a consultation/diagnosis – a doctor with a terrible bedside manner and soft skills or a witch doctor with a brilliant bedside manner. I think you might be behind me in the queue Mr Davy.

The answer is undoubtedly to have a relentless drive for chartered status throughout the industry.

As Yogi Berra once said: “You don’t know what you don’t know until you know it.”

Philip D. Stevenson

Chartered financial adviser,

ARK Financial Planning Limited,

Cheshire