LevyOct 22 2020

Read it Now: CII exam woes & FSCS levy up 174% for an adviser

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Read it Now: CII exam woes & FSCS levy up 174% for an adviser

Chartered Insurance Institute exam candidates were hit by more problems at test centres this October, with advisers reporting system failures across the UK.

Candidates sitting their R06 exams in Leicester, London, Newcastle and Preston reported several technical issues, including being kicked out of the system a few times. 

Some candidates also reported that invigilators at their test centres did not allow them to use their own non-programmable calculators during the exam, despite the CII advice to its invigilators that this would be allowed. 

The candidates instead had to use the computer system's inbuilt calculator, which they had not practiced using. 

The CII has urged any advisers who believe these issues may have negatively affected their ability to sit their exams to contact the body.

On page 2 of this week's Financial Adviser, another chartered financial planner has revealed a 174 per cent increase in his Financial Services Compensation Scheme levy bill, despite the fact his firm does not carry out defined benefit transfers and only has "plain vanilla" clients with basic financial planning needs.

Also in Financial Adviser this week, senior reporter Rachel Mortimer unveiled a rise in demand for paraplanning services at St James's Place, brought about by a sharp increase in protection business over the past few months. 

On page 40, she reports how one firm, which supplies paraplanning services to the FTSE 100-listed company, has seen a "boom" in demand for its services this year. 

Elsewhere in Financial Adviser, freelance commentator Simon Read questions the financial newsletter launched by Nigel Farage, the Top 100 Advisers are revealed in full, and a warning is sounded on stamp duty land tax refund claims. 

To read all this, as well as exclusive commentary, interviews and community news, click on this week's digital edition here

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Simoney Kyriakou

To find out more about our #KeepFeesFair campaign, email simoney.kyriakou@ft.com