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Positive Solutions has agreed to finance every one of its members through to diploma qualification, as a sign of its commitment to raising levels of qualification.

Speaking to an audience of press and providers today (4 July), chief executive officer (CEO) Jim Reeve unveiled the network’s new Learning Academy.

He described the training drive as one of the most "influential and advanced learning initiatives the financial services industry had seen in decades".

Lee McGrath, head of the learning academy, estimated that about 70 of the network’s ,1700 members currently held the diploma qualification, which costs around £1,500.

McGrath said: "If two thirds of our partners were to take advantage of the initiative, their total savings would be £1.8m."

Developed in conjunction with the Chartered Insurance Institute (CII), the academy aims to set the benchmark for professional development within the financial services sector and will be delivered through a new online training platform, which goes live on 29 July.

Reeve said: "This is a journey that individual IFAs will decide whether to take or not. We will not mandate participation to join the learning academy, but it is in the interests of partners to do so."

He added: "It is founded on the principle that 'competence drives competence' –by giving our partners the professional and personal skills to feel confident about their business, we will give clients the security of knowing they are receiving the best advice possible."