The Government is to pay the full cost of training new second and third tier of financial advisers, ...
The Government is to pay the full cost of training new second and third tier of financial advisers, according to David Jackman, chief executive of the Skills Council an offshoot of the Department of Education and Skills.
The Government is also to abolish the title of IFA and introduce a new higher tier of adviser to be known as financial planners. This tier will have to fund its own training.
Under the new Sandler regime there will be three tiers of financial advisers and the Government will pay for the training of the first two, Jackman told Investment Week. The lowest tier of advisers will work on an information giving role and will be allowed to sell the Sandler range of stakeholder products.
The second tier, which currently covers all IFAs, will have to go through a new, tougher training regime and are to be known as financial advisers.
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