The Chartered Insurance Institute (CII) has revealed that only 2% of independent financial advisers currently hold the qualifications necessary to advise on long-term care. Only 427 advisers have passed the CII's CF8, which becomes compulsory next year for those seeking to advise on long-term care.
Specialists have warned that there could be a shortage of advisers once the rule comes into force in October 2006. The CII is launching a tie-in with City & Guilds next year, that will make its' examinations available online for advisers, so they can take exams at their convenience rather than waiting for a scheduled sitting.
The Institute of Financial Services confirmed that the take up for the long-term care exam had been low, although numbers for this exam will not be known until next month.
Our view
We are qualified! Examinations form a major part of the development program here at . All our current advisers have passed a relevant Long Terms Care qualification, in addition, they have all also sat and passed the new Lifetime Mortgages (equity release examination). This is of course, on top of our requirement to have the full Advanced Financial Planning Certificates.
Learn more about Long Term Care in our dedicated website Care Fees Adviser.com.
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