Experienced mortgage advisers will be able to become Chartered Members under a new pathway launched by the London Foundation for Banking and Finance (LFBF) and LIBF.
The two organisations have developed the route to give mortgage professionals an opportunity to demonstrate higher levels of professionalism, ethics and continuing professional development.
Qualified mortgage advisers on the FCA register with the required professional experience and CPD will be eligible to apply for the designation.
It marks the first time LFBF and LIBF have offered a specific route to Chartered status for mortgage professionals.
FOUR YEARS OF CPD
Applicants for Chartered Member status will need to demonstrate four years of continuous CPD and complete a new ethics e-learning module.
The initiative is designed to support higher professional standards within the mortgage sector and comes as firms continue to focus on customer outcomes under the FCA’s Consumer Duty.
The Chartered Member designation will also become available to experienced trade and transaction banking specialists.
LFBF’s existing Chartered Associate and Chartered Fellow criteria will remain unchanged. Chartered Associate typically requires a Level 6 qualification, while Chartered Fellow requires applicants to meet the Associate criteria and have at least 20 years’ relevant banking and finance experience, including five years at senior level.
Chartered status is awarded by LFBF and administered by LIBF.
‘HALLMARK OF PROFESSIONALISM’
Harry Weber-Brown, director of partnerships at LFBF, said: “Chartered status is the hallmark of professionalism, recognising not only technical expertise in banking and finance but also a steadfast commitment to ethical practice, continuous professional development and delivering positive outcomes for customers.
“We’re delighted to partner with LIBF to create a pathway to Chartered status for skilled and experienced professionals.
“As the organisation responsible for awarding Chartered status, we’re proud to recognise the highest standards in banking and finance. We hope this pathway will enable more professionals to achieve Chartered status and further strengthen trust, excellence and professionalism across the sector.”
“Consumer trust and professional standards are under the microscope like never before.”
Chris Ray (main picture), chief operating officer at LIBF, part of Walbrook Institute London, added: “Consumer trust and professional standards are under the microscope like never before, and the mortgage firms we’ve spoken to are incredibly supportive of this development.
“As the biggest provider of mortgage qualifications in the UK, we’re committed to raising the profile of the sector, and opportunities for individuals to demonstrate their professional standards and ethics. We’re proud to work with LFBF to offer this additional Chartership route to experienced mortgage advisers with LIBF qualifications and offer them a clear pathway to higher professional recognition.
“I’d encourage as many of our mortgage advice members as possible to take a look at our website and make a plan for how they can become Chartered.”
