Up to scratch? How networks are testing advisers' competence

Independent financial advisers need to be ‘willing and able' to advise on all retail investment products, so the Financial Conduct Authority (FCA) rules dictate. This includes staying up-to-date on product knowledge and maintaining advice skills. To monitor advisers' progress the FCA asks for 35 hours of continuing professional development (CPD) each year, of which 21 hours must be 'structured learning', judged by way of self-assessment. Accredited bodies such as the Chartered Insurance Institute and the Institute of Financial Planning, then issue required Statements of Professiona...