SJP says the framework “demonstrates a commitment to ongoing learning via externally validated CPD standards set by the sector’s largest Chartered body.”
Now a “benchmark within the wealth management sector,” the framework was first introduced across SJP partner practices in August 2018 and was accredited last month.
The scheme serves to “upskill practice support specialists” (PSS) through technical, business, systems and process training and is designed to provide “a mark of quality and specialist expertise for staff.”
It is delivered through a combination of face-to-face, e-learning, webinars, audio presentations and reading packages.
PSSs can also choose to recognise their professional development by taking an Accreditation – a quality mark of competence and formal recognition, by the CII, of high quality learning.
These have been designed and created in line with specific PSS roles.
The firm said the introduction of the new framework was “a significant milestone in the continuing professional development available to St. James’s Place Partner Practices, helping to enhance further the services provided to clients and drive higher professional standards across the industry.”
It added that “no other wealth management firm has invested as much in the development of non-employed staff, and it is the first time the CII has supported a framework such as this.”
Steve Jenkins, CII development director, said: “St. James’s Place has adopted a proactive approach to promoting professional standards right across its Partnership.
“It is important that existing and prospective clients have trust in their adviser and the organisations that they work with.”
Hugh Morton, executive director PSS at St. James’s Place, said: “We are committed to ensuring that people across the St. James’s Place Partnership have access to quality training, allowing them to improve their working experience and maintain high professional standards.
“We acknowledge the need for solid infrastructure in an age when our Partners are having to deal with more complex financial solutions and increased regulation.
“The new framework will be an essential tool to support the firms that do not always have the resources to meet this challenge alone, while enabling continuing professional development of all staff.”
He added: “We believe the framework and Accreditation will also generate a positive impact on client experience and quality of service by ensuring access to the highest levels of knowledge and expertise available.”