Expert considers the benefits of the initiative
The Chartered Insurance Institute’s (CII) Society of Mortgage Professionals launched an accreditation mark to assure the quality of Continuous Professional Development (CPD) activities for mortgage advisers.
The mark recognises CPD hours with a specific focus on mortgage advice, providing formal recognition that a training programme meets the CII’s CPD accreditation standards.
So, are more CPD activities for advisers a good thing?
Liam Atkins (pictured), chief compliance officer at brokerage Simply Lending, said advocating for a more prominent role of CPD within the industry is a cause he believes in.
The initiative taken by The Society of Mortgage Professionals to elevate standards, Atkins said, sets a precedent that should inspire the entire sector to follow suit.
“At Simply Lending, we initiated measures 18 months ago to enhance our CPD records, including quarterly file audits, attention to CPD log content, and a proactive approach to providing our advisers with new and relevant material,” he said.
The Society of Mortgage Professionals' proactive stance, Atkins suggested, is a significant stride towards raising the professional bar.
Atkins said embracing accreditation opportunities presents a chance for the entire industry to evolve further and improve consumer outcomes through brokers having greater knowledge of the sector, as a whole.
“Our commitment to continuous improvement aligns seamlessly with the principles driving this accreditation initiative,” he said.
As the positive implications of this move become evident, Atkins reasoned, it will become clear that regulated firms should be open to exploring and adopting opportunities that enhance professional standards.
“Implementing rigorous CPD practices, such as quarterly file audits, has been instrumental in ensuring the quality and relevance of our learning initiatives at Simply Lending,” he said.
This approach reinforces compliance, Atkins noted, and advisers play a pivotal role in the process, frequently seeking new and pertinent material to enhance their knowledge base.
Moreover, Atkins believes that this dynamic exchange of information fosters a culture of continuous improvement.
“The notion that accreditation is an avenue for brokerages to further excel is grounded in the belief that raising standards benefits the entire industry,” he said.
It is not merely a regulatory requirement, Atkins said, but a strategic investment in the expertise and proficiency of the sector’s professionals.
“The Society of Mortgage Professionals has set the tone by taking the first step, and it is incumbent upon regulated firms to seize the opportunity to propel the industry forward collectively,” he said.
While regulatory compliance is imperative, Atkins pointed out, the willingness to explore and leverage opportunities for improvement distinguishes industry leaders.
“The landscape of the mortgage sector is dynamic, and a proactive approach to embracing change is key to sustained success; accreditation, in this context, is not just a checkbox but a strategic move to fortify the foundations of our industry,” he said.
In conclusion, Atkins said the call for a more robust role of CPD in the mortgage industry is not just a personal belief but a shared responsibility.
The proactive steps taken by The Society of Mortgage Professionals, he added, underscore the transformative potential of such initiatives.
“As regulated firms, we must collectively explore and embrace opportunities for accreditation, recognising that this is a crucial step towards a more proficient and resilient industry,” Atkins concluded.
What is your view on the Society of Mortgage Professionals launching a new accreditation mark? Let us know in the comment section below.
