This paper examines the underlying assumptions that competency-based frameworks are based upon in relation to leadership development. It examines the impetus for this framework becoming the prevailing theoretical base for developing leaders and tracks the historical path to this phenomenon. Research suggests that a competency-based framework may not be the most appropriate tool in leadership development across many organisations, despite the existence of these tools in those organisations, and reasons for this are offered. Varying approaches to developing effective leaders are considered and it is suggested that leading is complex as it requires both competencies and qualities in order for a person to be an effective leader. It is argued that behaviourally-based competencies only cater to a specific part of the equation when they relate to leadership development.