The Money Guidance Competency Framework
Technical knowledge domains

7. Investments

It is important that you are aware of where the regulated boundaries are and do not go beyond them (please refer to ‘The boundaries of the service and of your role’ and the description of advice). Guidance should provide information and/or options on the customers’ choice of investment option (e.g. trader funds, shares etc.), without making an explicit recommendation.

7.1.1Awareness of what an investment is
7.1.2Awareness of the concept or risk versus reward and how this applies to investments
7.1.3Awareness of scams and what to do if a customer has been the subject of a scam
7.2.1Knowledge of different types of investment products
7.2.2Awareness of investment principles
7.2.3Awareness of trader funds
7.2.4Awareness of what ‘shares’ are
7.2.5Awareness of the rules of the use of Individual Savings Accounts (ISAs)
7.2.6Awareness of the practice of ‘wrapping investments’
7.3.1Knowledge of regulated and unregulated products
7.3.2Knowledge of asset classes and diversification
7.3.3Knowledge of how shares and investments work
7.3.4Knowledge of different funds and how they are valued
7.3.5Knowledge of investment charges
7.3.6Knowledge of where to get detailed information about investments
7.3.7Knowledge of the types of fees of Independent Financial Advisers (IFAs)
7.3.8Knowledge of the importance of using an IFA

Here you will find further information to help meet the competencies in the framework and in doing so your customers too.

It includes relevant training and qualifications to the particular domain (identified by a mapping exercise carried out in 2019). These links are provided for your information and should not be interpreted as approval or endorsement of the materials.

It also includes links to further information on a range of relevant domain topics. Many of these links go to the MAS website, where you can get up to date information on most of the topics along with links to other organisations and sources of support.

This information is by no means exhaustive but our intention is that it will strengthen and grow over the course of the future programme.

We have put together a directory of further information to help you meet the competencies in the framework that will also support the people you help too.

It includes relevant training and qualifications for each domain (identified by a mapping exercise carried out in 2019).

The links to training and qualifications are provided for your information and should not be interpreted as approval or endorsement of the materials. Before signing up, it is important to check the credentials of the organisation if you are not familiar with them.

Things to think about include:

  • Will you get professional or recognised accreditation?
  • Can you get recommendations from your network?
  • Could you negotiate discounts by grouping together with other practitioners?

There are also links to further information on a range of relevant domain topics. Many of these links go to the MAS website, where you can get up to date information along with links to other organisations and sources of support. You can signpost people to these sources or use them as a basis for direct guidance. This information will be very useful for supporting your skills and knowledge in Tiers 1 and 2 technical domains.

Bear in mind this information is intended as a starting point and we plan to add further resources as we become aware of them to create a comprehensive database that will strengthen and grow as the programme develops.

Please do let us know of any training, qualifications or information resources that you use and think would help other practitioners by sending an email to MoneyPractitioners@MaPS.org.uk.

Qualifications

CISI Level 4 Diploma in Investment Advice

LIBF Level 6 Diploma in Financial Advice

CISI Level 6 Certificate in Private Client Investment Advice & Management

CII Level 4 Certificate in Securities Advice and Dealing

The Open University – You and Your Money (DB125)

Training

The Money Advice Trust – Wiseradviser – Introduction to money advice (England & Wales)

The Money Advice Trust – Wiseradviser – Introduction to money advice (Northern Ireland)

The Money Advice Trust – Wiseradviser – Introduction to money advice (Scotland)

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