The Chartered Institute for Securities & Investment (CISI), the professional body for Certified Financial Planners, has thrown its weight behind a new national training campaign, the Financial Services Commission’s (FSSC) Skills Compact.
The CISI, which has 57,000 global members in Financial Planning, wealth management and capital markets, says it supports the initiative which will see more than 20 financial services firms taking part, including CISI members.
The firms and organisations have pledged to invest in their staff, develop 'talent pipelines' and collaborate to close the sector’s skills gaps, particularly in the areas of new and emerging technology.
The CISI says the financial services sector, with around 1m workers, has the potential to be a key driver of UK economic growth.
Mandy Gill, CISI executive director of learning said: "As part of the HMT Steering Group, we welcome the opportunity to support the Financial Services Skills Compact on behalf of our members, stakeholders and the future talent coming through, who are critical to the lifeblood of our profession.
"Financial services play a vital role in the UK economy, and its future depends on the talent, skills and ambition of the people within it. I'm delighted to have been involved in the development of the skills compact, which provides a clear statement of shared intent and a basis for collective action across the sector.
"Our sector is undergoing immense change, with AI at the forefront and customer confidence being central to the equation. Technological change in particular needs to go hand in hand with trust, with ethical frameworks being integral to both AI development and to our profession-wide skills and training. People are at the forefront of the skills evolution and we are here to support our members in navigating and leading those changes.
"The Financial Services Skills Compact is a testament to the power of joined up thinking between government, professional bodies and business. We look forward to working for our members across the UK regions as they upskill and reskill their people and deliver on the Compact’s goals.”
The compact is now available to CISI member firms and sector stakeholders and is expected to support further collaboration on education, skills development, recruitment, retention and progression.