Ascentric, the independent wrap platform, has launched its own Driving Test. This is a new training service for Financial Advisers that assesses their knowledge and understanding of the Ascentric platform, and ensures they are confident in explaining its functionality to their clients.
A key benefit of the Ascentric Driving Test will be to provide adviser firms with documented evidence of their training programme which could form part of a wider platform policy.
The Ascentric Driving Test takes place once the adviser has undertaken an extensive training programme. The Test is taken in two parts: theory and practical. The theory test consists of 25 questions, has a pass mark of 80%, takes 25 minutes, and can be done on a group basis.
The practical test is an assessment by the trainer that the user is capable of accessing and navigating the Ascentric website and is also able to explain the process to a client. The practical test is done on a one-to-one basis, and the individual is given a pass or fail from the assessor based on their performance.
Those who pass both parts of the Ascentric Driving Test receive a certificate as evidence of their success and those who fail have the option to re-take one or both of the modules as appropriate.
Commenting on the new training service, Richard Goodall, Ascentrics Sales and Marketing Director said, Our Driving Test will ensure advisers have a clear understanding of the processes that underpin the Ascentric platform so that they can clearly communicate its features to clients. It also makes sense that Financial Advisers who invest time and therefore money in training their staff, are then able to test their knowledge. I firmly believe this will accelerate the adoption of our platform.
Also, the approach of the regulator to the platform market is now evolving at a fast pace. My view is that the FSA will expect adviser firms to have something along the lines of a platform policy which will cover a range of activities all designed to demonstrate good practice, and clearly one example of this will be training.
D.C.