A temporary dispensation has been applied to the Financial Services Administrator version AP01 for this apprenticeship. The dispensation will last from 1st September 2022 to 1st September 2024 but may be withdrawn if the standard is revised sooner or the dispensation is no longer necessary.

The key changes are:

The Certificate in Insurance from the Chartered Insurance Institute (CII) has been added to the current mandated qualifications

This apprenticeship is in the process of being revised. In the meantime, the version below remains approved for delivery. Further details of this and other occupational standards and apprenticeships in revision are available in the revisions status report.

Overview of the role

Providing administrative support to a financial organisation, to provide a high quality and compliant service.

Financial services administrator

Reference Number: ST0177

Details of standard

Role / Occupation:

Financial Services Administrator (Adviser firm or Network)

‘Adviser Firm’: An SME business providing regulated financial planning / mortgage / insurance advice

‘Network ’: An umbrella company providing support services to groups of Financial Adviser Firms


The Financial Advice market consists of c19000 SME businesses split approximately 75% financial advice, 25% mortgage advice. These SME businesses are supported by umbrella organisations known as networks who provide a range of support services to the individual businesses including technology, compliance, technical & consultancy support. Due to recent changes, more administrative support is required by firms in order to provide an efficient, high quality and compliant service to their clients. The Financial Administrator standard responds to this demand whilst also providing an ideal entry point for a career in the sector, with progression routes leading to a number of roles with full professional qualifications.

Typical activities that this role might carry out are listed overleaf.



What is required

Financial Services market

Broad understanding of the structure of the Financial Services market, including the

role of the financial adviser & product providers, customer outcomes, support services & platforms

Regulatory & compliance

Understands the Financial Services regulatory framework, the ethics & key principles

of the advice process


Understands the purpose & technical content of the financial services products &

services provided

Systems & processes

Understands all systems & processes required to deliver the role outcomes & has

awareness of how these fit within the wider company & industry


What is required

Quality service delivery

Consistently develops and delivers excellent service to customers, colleagues &

advisers, supporting the products / services provided and adhering to ‘Treating

Customers Fairly’ principles at all times

Customer communication &


Develops effective relationships with customers & key contacts, handling & resolving

issues through effective verbal/written/IT skills.

Team working &


Understands role within team & impact on others. Consistently endeavours to

support colleagues & collaborate to achieve results

Planning & prioritising

Successfully analyses and plans in order to deliver good outcomes for the business.

Using systems & processes

Consistently adheres to systems & processes using proficient IT skills, including risk,

regulatory and governance requirements


What is required

Honesty and Integrity

Truthful, sincere in their actions and doing the right thing (even when not the easiest)


Willingness to accept changing priorities and work patterns when new jobs need to

be done, or requirements change


Shows drive and energy in their work, when things are going well and when

challenges arise


Meets personal commitments and expectations, eg completing work, timekeeping

Personal commitment

Proactive in their own development; commitment to the job and the industry

Typical Activities that may be carried out by, but are not exclusive to this role include:

Providing general office administrative support including filing/scanning/photocopying, banking/post/franking, processing premium payments, answering the telephone, note/message taking

Maintain customer / policy records through the customer management system and associated IT solutions Support the account handling team in delivering a full customer service proposition in a professional, timely and efficient manner including new business, mid-term adjustments and renewals.  Transact with insurers and customers accordingly.

Communicate all information necessary to ensure customers are fully aware that their needs have been met and contract certainty achieved.

Manage instalment and credit provisions for customers.

Ensuring that formal complaints /potential formal complaints are referred immediately to Managing Director

Ensuring that all compliance procedures are adhered to on a day to day basis. Ensure customer files are complete in accordance with procedures.

Manage new and existing claims and complete any claims analysis as is necessary, working with the Claims



The apprenticeship will typically take 12 – 18 months to complete

Entry requirements

Individual employers will set the selection criteria for their Apprenticeships. Most candidates will have Level 2 Maths

and English, ideally as part of 5 GCSE A-C grades. Other relevant or prior experience may also be considered as an alternative. Employers who recruit candidates without English or Maths at Grade C or above must ensure that the candidate achieves this standard prior to the completion of the Apprenticeship.


This is an entry level role which provides the foundation knowledge skills & experience for progression into a

number of career paths including Senior Administrator, Paraplanner, Financial Adviser or Mortgage Adviser.


Professional qualifications within this apprenticeship are listed below – one of:

UK financial services, regulation & ethics (CF1) – Chartered Insurance Institute (CII) CII Certificate in Insurance - Chartered Insurance Institute (CII) UK financial regulation (UKFR) – The London Institute of Banking & Finance (LIBF) - Financial Services regulation and Ethics  - Chartered Bankers Institute (CB)

Introduction to Securities and Investment; UK financial regulation; Administration of settlements and investments – Chartered Institute for Securities and Investments (CISI)

In addition, the role may require completion of an exam specific to the line of business worked in eg Life, Pensions, General Insurance, Investments, Long Term Care.  These are typically provided by the CII, LIBF and CISI.

Alternatively where employers feel that there is evidence of higher academic aptitude, the apprentice could opt for a more demanding higher level qualification that would enable fast tracking through the progression routes available on completion of this apprenticeship.

Financial services, regulation and ethics (RO1) – CII Financial services, regulation and ethics (FSRE) The London Institute of Banking & Finance (LIBF).

Link to professional registration

This apprenticeship provides the first step on the pathway to professional membership of the Chartered Insurance

Institute, The London Institute of Banking & Finance (LIBF) , Chartered Institute of Securities and Investment.


Level 3


The apprenticeship should be reviewed after a maximum of 3 years.


Crown copyright © 2024. You may re-use this information (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence. Visit www.nationalarchives.gov.uk/doc/open-government-licence

Status: Approved for delivery
Level: 3
Reference: ST0177
Version: 1.0
Date updated: 24/08/2022
Approved for delivery: 12 November 2014
Route: Legal, finance and accounting
Minimum duration to gateway : 12 months (this does not include EPA period)
Maximum funding: £12000
LARS Code: 8
EQA Provider: Ofqual

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Contact us about this apprenticeship

Employers involved in creating the standard: Financial, Openwork, Sesame, Bankhall Group, Simply Biz, Tenet

Version log

Version Change detail Earliest start date Latest start date Latest end date
1.0 Approved for delivery 12/11/2014 Not set Not set

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