The ifs School of Finance has launched a new qualification aimed at mortgage advisors.
Those who has already passed their CeMAP exam will have recently received, or be about to receive, a letter explaining a new qualification for mortgage advisors.
The CeMAP is the benchmark qualification that you need if you want to become a mortgage advisor. Recently, the FSA (Financial Services Authority) has issued proposals to make the CeMAP compulsory for anyone involved in the sale of a mortgage, from the call centre advisor to the administrator. Now, the DipMAP has been launched. The DipMAP offers a more advanced knowledge level than the CeMAP but is not necessary for people working in mortgages and as yet, there are no plans to make it such.
According to the ifs, the DipMAP is expected to help mortgage advisors to build a more advanced level of product knowledge and an understanding of the market to help them in the modern, more complex and constrained marketplace that we see today.
Anne Kiem, vice principal at the ifs School of Finance, said: “We are proud to be at the forefront in providing advisers with a qualification that allows them to differentiate themselves in a challenging and increasingly competitive commercial environment.
“While the financial crisis has brought many challenges to the mortgage market there still remains opportunity for growth and diversification, particularly in the area of highly specialised mortgage advice. Increased regulation in the advice sector is here to stay, and there can also be little doubt that product complexity will continue to increase across mortgage types in years to come. In such an environment advanced qualifications like DipMAP can really come to the fore in helping advisers stand out from the crowd.”
The regulated advice sector is undergoing much change at the moment. Financial advisors are seeing the introduction of the DipFA, which will be a compulsory qualification from 2013, as well as the CeFA qualification. CeMAP and CeFA training remain at the core for both mortgage and financial advisors.