Advice DVD (error DVD)
The DVDs last around 3 hours and include three scenarios of a two-stage advice process.
The three different scenarios are: investement, mortgage and pensions.
It is recorded in high definition and includes a 'tape counter' so that sections can be easily identified.
It has been designed to be used for three potential purposes:
1. The FCA requires firms to be able to demonstrate that their staff are competent. For supervisors, FCA guidance says that they should be able to assess prior to undertaking the role, and on an ongoing basis.
The DVD can be used as part of training or assessment to enable the supervisor to demonstrate their ability to assess accurately using an observation form. Two of the three scenarios have missing or deliberately non-compliant areas.
2. They can be used as part of training or coaching to demonstrate and develop adviser skills.
The advice process is RDR compliant.
3. They can be used as a part of an annual competence assessment for advisers who demonstrate their competence by being able to identify the non-compliant behaviour.
Sample DVD clip