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MS poll: 60% of brokers believe DipMAP is the future

by: Mortgage Solutions
  • 08/12/2010
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The latest Mortgage Solutions poll has found that 60% of brokers see the ifs Diploma in Mortgage Advice and Practice (DipMAP) as the future for mortgage professionals, helping to boost standards in the industry.

However, 30% of respondents disagreed and 10% were still unsure about the higher level qualification, which offers advisers the ability to advance their learning beyond CeMAP.

Simon Jackson, managing director of MoneyQuest, said: “I think the ifa Diploma will help to improve professionalism by offering some standardisation, but much more can still be done to help the industry.

“There should be on-going monitoring of advisers and occasional assessments to make sure they can boost their knowledge and help improve the customer experience.”

Jackson added that the Diploma would have little meaning for the customer.

He said: “Currently, I don’t think that consumers get what the qualification is about and they’re also quite cynical about what they read about in the press.

“However, by going to a broker, consumers are likely to get good advice therefore the industry needs to back these positive measures, to help improve the industry’s reputation.”

Lorraine Tiwari, spokesperson from ifs School of Finance, said: “We are delighted that so many advisers have welcomed the launch of DipMAP. The qualification can help advisers evidence high levels of competence, and enhance their ability to consistently deliver the best solutions for clients.

“This can really help mortgage advisers stand out from the crowd in an increasingly competitive market, and we are pleased to be at the vanguard in launching a qualification that gives advisers everywhere this opportunity.”

DipMAP is a distance learning course that runs over nine months, divided into two units – Financial Services, Regulation and Ethics, and Advanced Mortgage Advice.

This week’s poll looks at which way house prices will go in 2011, after predictions ranging from remaining flat to falls of 10%.

Have your say in the poll here

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