Shifting away from the status quo of compliance-focus and process-driven learning and curating a culture of lifelong learning focusing on opportunities in innovation-based education technology should be part of a new continuing professional development (CPD) framework, according to Kaplan Professional.
In a newly-released whitepaper, ‘Lifelong learning – The future for professional financial advisers,’ Kaplan said CPD in its current form needed reassessment and advisers wanted it’s focus broadened.
“We want to change the value of CPD beyond compliance and move towards a lifelong learning mindset, standardise recognition and accreditation models, and recognise innovation CPD delivery methods,” said Kaplan head of CPD, Jennifer Hornsey.
“After speaking to…corporates, licensees and advisers of all ages and experience about what they want to do with their learning in the future and what they want out of CPD it prompted us to think.”
A suggested practical framework for financial adviser CPD requirements, assessment, and accreditation was outlined within the whitepaper.
Recommendations included:
- Learning events assessed and points allocated based on learning outcomes,
- A point-based system to determine an individual’s CPD requirements,
- Providers to have learning events assessed and points awards for CPD; and,
- Points no longer allocated based on hours or number of words within learning materials.
The new framework also touted the uses of adaptive learning, artificial intelligence (AI) and micro-learning technologies within the realm of education technology to provide more personalised CPD accreditation experiences for advisers.
“It creates consistencies and clearly defines the accreditation and measurement of CPD,” said Kaplan chief executive, Brian Knight.
“Advisers will be able to learn in the most effective and efficient way, while being able to tailor their learning to their own personal needs, level of experience, and career aspirations.”
Knights said an independent framework would benefit the industry and provide better practical and flexible options for advisers.
