The Financial Services Skills Council (FSSC) has published a final draft version of the national occupational standards (NOS) for providing financial advice and financial planning.
There are eight units in this suite of NOS comprising:
- PFAFP01 Engage the client for financial advice and/or planning.
- PFAFP02 Gather and validate financial information.
- PFAFP03 Analyse the client’s financial circumstances.
- PFAFP04 Research and select appropriate financial solutions to inform recommendations.
- PFAFP05 Advise on appropriate financial solutions and agree the next steps.
- PFAFP06 Implement financial solutions.
- PFAFP07 Review and respond to the client’s changing financial needs and circumstances.
- PFAFP08 Maintain your own performance, personal development and financial services industry awareness.
The FSSC states that the final draft version was submitted for approval to the UK Commission for Employment & Skills at the end of January 2010. The FSSC warns that the final version might be subject to some further amendments.
View National Occupational Standards for Providing Financial Advice & Financial Planning, 11 February 2010