Tuesday 25th October 2016                 Change text size:

Over 2,400 complete course to raise ethical standards of financial services

Kees Romkes via Flickr

Over 2,400 finance professionals have completed a new course that aims to develop their understanding of the often complicated financial world, and increase the trustworthiness of the industry as a whole.

Some 3,000 piloted the new course, called the Claritas Investment Certificate, from December 2012 until April 2013. It is run by the Chartered Financial Analyst (CFA) Institute, which is named after the CFA programme, a global certification scheme in the investment industry.

With over 117,000 members globally, most of whom have gone through the CFA programme, the CFA Institute provides the financial services sector with knowledge, education, professional development and connections.

Managing director of education John Bowman stressed the importance of education within the financial services industry, saying, “We are really about advocating higher ethics and higher standards across the financial services industry.

“We strive to ensure that interests are put first and clients’ motivations are prioritised.”

Bowman added, “We’ve tried to play a bolder and louder role. More recently we have a public crisis of trust within the industry. This is most concerning to us.

We think the role of the industry is to serve society, by connecting people that have capital with people who need capital, to fund hospitals and schools and entrepreneurial ideas.”

The Claritas Investment Certificate is aimed at providing higher ethical standards to those in support roles, but who still have an influence on the direction of funds of investors.

Bowman said, “Everyone within the industry is a steward of funds in one way or another, and educating everyone within the industry is paramount.”

Further reading:

Graduate training programme launched to stop IFAs fleeing the market

Online course launched to promote sustainable investment advice

 The Guide to Ethical Financial Advice 2013


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