The programme leads to a CeMAP Professional designation intended to help advisers to differentiate their skills and services. It involves 15 hours of CPD a year, which can include mortgage-related seminars and workshops, webinars, technical updates, e-learning and professional studies.
Advisers can train towards two levels of designation:
• CeMAP Professional – for advisers who hold CeMAP or Advanced CeMAP qualifications.
• CeMAP Advanced Professional – for advisers who’ve achieved the higher level CeMAP Diploma or DipMAP qualifications.
The programme costs £35 a year for members of the London Institute of Banking & Finance and £55 a year for non-members.
Nationwide BS, Intrinsic, Sesame and Leal & General are among the organisations supporting the programme pushing the active individual progression and professionalisation of UK advisers.
Finding a quality adviser
The programme offers a publicly searchable register to check adviser’s credentials.
Brian Wilkinson, managing director, corporate and professional qualifications at the London Institute of Banking and Finance, said: “The mortgage market is changing constantly and it’s vital for advisers to be able to demonstrate that they are keeping up with developments.
“The recent FCA call for it to be easier for consumers to compare advisers and products shows how important it’s becoming for advisers to differentiate.”
On Friday last week, the FCA called for an adviser database and plans to consult on a variety of metrics which would help consumers differentiate between the quality of broker services.
Wilkinson added: “And there are other factors at play. With the liberalisation of the market, advisers need to continually develop their professional skills, knowledge and practice to ensure they give their clients the best possible advice.
“We also signpost advisers to other areas they may want to explore to take a more holistic view of their clients’ needs as our society ages – such as equity release and pension transfers.”
Over 100,000 professionals have now qualified as mortgage advisers with the Certificate in Mortgage Advice and Practice (CeMAP) and around 3,000 people study CeMAP every year.