Major international honour for CII’s RDR Gap Fill Tool
The Chartered Insurance Institute (CII) RDR Qualification Gap Fill Tool has received international recognition by winning a prestigious 2012 Brandon Hall Excellence in Technology Bronze Award.
The Award, for Best Advance in Learning Management Technology for Compliance Training, was presented to Unicorn, who designed and built the Gap Fill Tool to help financial advisers meet the huge challenge of the FSA’s Retail Distribution Review ahead of the 31 December 2012 deadline.
The RDR is the largest regulatory initiative in the UK in 30 years, to enhance consumer confidence in the UK retail investment market. It has major learning and development implications for individuals who advise on retail investment products.
To ensure RDR compliance and to continue practising from 1 January 2013 all financial advisers must achieve the required standards and been issued with a Statement of Professional Statement (SPS) certification.
Launched free to CII members in August 2010, the tool has enabled members to identify where knowledge gaps exist, and manage the process for filling gaps and attaining their SPS. A remarkable 85% of advisers studying for their SPS are doing so through CII. By the end of 2012 over 25,000 adviser members have used use the tool, and 90% had completed their gap fill and submitted their records for verification.
Steve Aspinall, Head of Corporate Development, CII, said: “This award is testament to the robustness and effectiveness of the Qualification Gap Fill Tool and CII Financial ASSESS in helping guide our advisers through what has been a very turbulent and uncertain period for the financial advice industry.
“With Unicorn, we delivered a unique, engaging and practical online professional development experience that’s assisted firms and advisers in meeting the immediate compliance requirements of the RDR, and it continues to address the issue of ongoing competence in line with the FSA wish for a more principles-based regulatory approach.”
Brandon Hall Group is the pre-eminent research and analyst organization focused on developing research driven solutions to drive organisational performance.
All entries were evaluated by a panel of independent senior industry experts, Brandon Hall Group Senior Analysts and Executive Leadership based upon criteria including what the product’s breakthrough innovation was, what makes the product unique and how it differs from any competing products, what problem the product solves/need addresses and the benefits customers can expect as a result of using this product.