18/02/2009 - SimplyBiz and Compliance First to Refund CII Exam Fees

SimplyBiz and Compliance First have today launched a comprehensive package of support for
the CII study and examinations, including the news that they will be refunding the CII exam fee for successful candidates. This commitment to support increased professionalism and deliver practical help is designed to kick-start the study and exam take up well in advance of the RDR.  With the introduction of this initiative all advisers in firms served by The SimplyBiz Group will be able to claim a full refund from SimplyBiz of their CII fee for every successful exam pass as they move from FPC to Diploma level during 2009.
 
Chairman Ken Davy commented:
 
“We support the RDR’s focus on increased professionalism and whilst it is clear that Diploma level will be the likely requirement, the cost implications of this for firms and individuals have so far been ignored.  We believe this initiative will address this issue by providing all advisers served by SimplyBiz and Compliance First with a full examination fee refund for every pass as well as delivering a subsidised comprehensive support package.
 
According to research undertaken by the New Model Business Academy, we are expecting over 5,000 exams to be taken this year by advisers served by SimplyBiz and Compliance First.  Clearly this offer will cost SimplyBiz a substantial amount of money however we believe it is important that we help firms and advisers achieve their goals by kick-starting the exam and study process in conjunction with the CII and PFS.
 
The timescales to reach Diploma level, as currently proposed, are much shorter than we think is equitable.  However, we are determined to help ensure that the advisers we serve get into good shape for the opportunities the future will bring.”
 
Steve Jenkins, CII Director of Financial Services said “We are absolutely delighted to be working with SimplyBiz and Compliance First in this major initiative.  We believe this will make a very significant contribution to raising standards in the market and will provide advisers with a comprehensive programme of support.” 
 
This scheme will be in force throughout 2009 and will benefit all existing firms served by SimplyBiz and Compliance First.  Every new firm or adviser joining either company will also be eligible for the SimplyBiz comprehensive CII support package along with a full refund of their exam fee at the PFS member rate.
 
 
Editor’s Note:
The SimplyBiz Group provide compliance and other business support services to over 2000 financial services firms and 5000 individual advisers nationwide.
 
The CII
The Chartered Insurance Institute is the world’s leading professional organisation for insurance and financial services. Its 93,000 members are committed to maintaining the highest standards of technical competence and ethical conduct.
 
A robust framework of learning and development solutions enables the CII to support corporate partners and individuals across the industry.
www.cii.co.uk
 
The PFS
The Personal Finance Society is the leading professional organisation for financial advisers and those in related roles. With over 25,000 members, it promotes the highest standards of professionalism in the industry.
 
It sets the standards for technical knowledge, customer service and ethical practice across the entire financial advice community. To achieve its aims, the Society provides its members with access to technical qualifications, learning materials, support services and practical benefits.