Aifa criticises FSA consultation paper on exam

Aifa has criticised the FSA Consultation Paper on the IFA examination framework for lacking clarity, criticises its lack of clarity. In Aifa's response, director general Paul Smee said an example of this is the absence of any clear indication of the number of modules which an adviser operating in today's market would need in order to achieve qualified adviser status. Aifa estimates it could be as many as seven, which is four more examinations than currently required. He said broader, more in-depth examinations are needed, but clearer guidance must support this.