Advisers can specialise in 30 days
The recommended time for CeCM is 40 to 60 hours, with those already CeMAP-qualified and familiar with commercial lending practises having a study time closer to 40 hours. Those completely new to the subject are likely to need a full 60 hours.
ifs believes that the many advisers who spend at least 30 minutes commuting each day could use that time to study. Two sessions of 30 minutes spent studying on the way to work each day, and a further 20 minutes at lunchtime or in the evening, would enable a competent adviser to gain the qualification in 30 days.
CeCM can also be taken as part of Advanced CeMAP.
Mark Roberts, head of faculty financial regulation at ifs, said: “Successful advisers are already busy doing their job for at least 40 hours a week and are put off gaining specialist qualifications because they believe they are simply too busy. The new learning materials are very user-friendly and we even offer Saturday exams in some places to make it even easier for advisers to take our qualifications.”
Andy Frankish, managing director of Mortgage Talk, said: “We all have to undertake personal development and the most reputable brokers want to expand their knowledge. All in all, it sounds like a good qualification. There’s a danger in any commercial market, as it’s unregulated – if we gain a better knowledge of the sector then it would help. This would definitely be something we would recommend to our brokers.”