[Opinion] CPD – identifying the stuff we don’t know but really should

Opinion: The Code requires advisers to do annual CPD (Continuing Professional 
Development).  I come across various questions from life advisers about CPD, so I thought the beginning of the year might be a good time to share my thoughts on those questions regarding CPD for giving life and health insurance advice (not that required for selling or running your business). 

WHY MUST WE DO CPD?

In my opinion it does not, particularly in respect of products and product recommendations, but also other matters.  As I see it, the Level 5 qualification is only an adviser’s ticket to the game.  It allows them on to the field but it’s no guarantee the Ref isn’t going to red card them.  More is needed to continually improve knowledge and hone advice skills to avoid the Ref’s pocket.  I suspect the Code Committee understood this, hence the Code requirement for CPD.

I’ve said it many times, life and health insurance advice is complex and life advisers are required by law to give advice with the care, diligence and skill of a prudent adviser.  This requires knowledge of a great many issues, and expert knowledge of some, as well as the practical understanding and experience to mold that knowledge into acceptable advice.  Constant learning is a reality for all professionals, including life advisers.