Providing Financial Advice & Financial Planning

National Occupational Standards for Providing Financial Advice & Financial Planning

 

Background information

National Occupational Standards for Providing Financial Advice were approved in 2006, which meant that much of the research underpinning them took place during 2005. Being more than three years old, an incremental review of them was launched in 2009 to ensure that their content remains topical and relevant.

This review included a gap analysis of the NOS against current industry needs, to ensure that the Standards continue to reflect good industry practice, and also included their extension to cover all the competencies required for activities in giving financial advice and preparing a financial plan for a client.

 

The National Occupational Standards

These NOS have been developed in accordance with the following Key Purpose statement: ‘To provide recommendations that help clients to manage their financial affairs'. They cover individuals whose advice may be tied to a particular organisation's products and services, multi-tied to a limited range of providers, or independent.

Under the Retail Distribution Review, the benchmark for certain advisory functions will be set at Level 4. This has impacted on the competencies in these NOS (the outcomes of effective performance), which have been enhanced to reflect this raised benchmark.

The National Occupational Standards for Providing Financial Advice & Financial Planning can be downloaded below.

The units can also be downloaded individually from the NOS Directory, at http://ukstandards.org.uk/Find_Occupational_Standards.aspx?NosFindID=4&SuiteID=2162.
 
 

Further information

For further information about these NOS, please contact the NOS team by emailing [email protected] or calling 0845 618 2379.

 

Your feedback

We welcome feedback on the National Occupational Standards which we have produced. If you would like to comment on the NOS for Providing Financial Advice & Financial Planning, please complete and return the feedback form (which can be downloaded below) to [email protected].

 

 

 


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