Advisers are now largely clear on what they need to do to meet the requirements of the Retail Distribution Review (RDR) from 1 January 2013. However, there are still a few queries arising, particularly regarding less conventional scenarios. The Personal Finance Society (PFS) has put together a definitive guide designed to answer any questions advisers may still have...
Q: What exactly are the rules? A: The RDR includes a requirement for advisers to raise their knowledge levels from the current benchmark Qualifications and Credit Framework (QCF), (or equivalent) Level 3 qualification, commonly the Financial Planning Certificate (FPC) or Certificate in Financial Planning (equivalent to A Level), to a Level 4 Diploma qualification (equivalent to the 1st year of a degree). On behalf of the FSA, the Financial Services Skills Council (now the Financial Skills Partnership), created new Appropriate Exam Standards (AES). These standards define the knowledge t...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
