A PFS member director has apologised for the "mistake" the body made teaming up with St James's Place (SJP) to create a vulnerable client qualification, and offered a behind-the-scenes look at the situation.
In September, the Chartered Insurance Institute (CII) - of which the Personal Financial Society (PFS) is part - launched a vulnerable client qualification exclusive to SJP partners and advisers. The qualification was initially set to be exclusive to SJP for two years before being rolled out to the wider sector, but following backlash from advisers, the CII and SJP agreed to open up the pilot more widely. SJP had been working with the CII for the last two years to develop the Level 6 qualification. It was initially designed to help SJP advisers develop a detailed and holistic understa...
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